Cascade Lab, a Luxembourg based Fintech/Regtech firm providing Administrative, Compliance and Governance solutions today announced the completion of a €1 million funding round. Cascade will use the funds to keep up with the fast growth of its clientele in Luxembourg and internationally, and develop the new features required by broader than expected client categories.

The funding round was oversubscribed and led by the Digital Tech Fund, a joint public-private seed fund managed by Expon Capital that supports ICT start-ups in Luxembourg, with participation from LBAN, Luxembourg's business angels’ network, and Project Rise, a Luxembourg Investment Initiative providing mentorship, alongside funding, to entrepreneurs. Additional investors in the round included several key industry players.

Cascade's mission is to help small and medium size teams and companies from or linked to the Financial Sector to digitize client related data, automate numerous day-to-day activities and most importantly ensure regulatory protection, thanks to a well-designed and complete AML/KYC and Compliance framework. It replaces dozens of excel files and expensive external applications used by operational teams, thus ensuring better control from team management point of view. 

Since its inception, Cascade has won several prestigious awards - Young ICT Revelation Company of the Year 2021, APSI Start-Up Award 2020 - and joined sought-after acceleration programs - Fit4Start #11 (2021), EYnovation by EY (2021).

“Cascade’s team is extremely good at execution and solves real pain points faced by customers. We are convinced that its solution is addressing an attractive market opportunity and excited to support the founders throughout the journey”, said Lily Wang, Principal, Expon Capital.  

"We had the chance to meet the team during the Fit4Start program and were amazed at what they had built. We are excited to back this round and to support the team in becoming a major player in their target market", stated Romain Hoffmann, Head of Investment, LBAN.

"Maciej and Declan have managed to convince us right from the start. It's amazing what they have built so far, and we are looking forward to helping them make Cascade a huge success", commented Thibault Britz from Project Rise and founder of Sedai.lu.

"This fund raising will allow us to increase our team and not just enhance the existing solution, but to bring new products, making the whole offering more complete’’, said  Maciej Waloszyk and Declan O’hAnnrachain, co-founders & Managing Partners at Cascade.

For further information, please visit www.cascade.lu

Picture: Declan OhAnnrachain & Maciej Waloszyk, co-founders & Managing Partners at Cascade (from left to right)