In this week's Newcomers article, we introduce InvestSet company. We had a conversation with Gyorgy Varga, Partner at InvestSet, who shared insights about the company's origins, unique features, and plans for the future.

1 - Please introduce your company and the products/services it offers.

Our wealthtech that connects investors to a global database of investment funds, stocks, ETFs and bonds. We offer advanced portfolio management tools like optimization, backtests, tracking and performance reporting. These tools are backed by a user-friendly cloud-based SaaS platform accessible on mobile, desktop, APIs, Excel links and white label solutions.

Portfolio:

- Asset Comparator - a free tool for comparing assets and generating concise reports.

- InvestSet Uno- a robust product that not only provides asset comparison tools but also offers a range of analytical features.

- InvestSet White Label - a fully customizable solution that can be integrated into client’s platforms.

We also provide solutions involving automation of complex document-based workflows, using intelligent document processing systems and machine learning.

2 - What led to the creation of your company?

We've been in the technology scene for the financial market for quite some time. Our team has a lot of experience in other markets, like Latin America, where we've developed solutions that are used by the big players.  This led us to explore opportunities for expansion.                                                                                                                                                                                                                        

 During our market analysis, we identified a gap in both the European and Asian markets. The data we gathered highlighted a competitive landscape dominated by a few major players, but with limited customization options and high prices. This reinforced our belief that our technology could fill the existing void in these markets.

3 - What is the most difficult or unexpected thing you've had to overcome on your journey?

Launching a new business is never easy - I've encountered this scenario multiple times in my journey as an entrepreneur and investor. In our case, we face the challenge of reaching out to major players who could benefit from InvestSet's products. Despite our active participation in numerous industry events and strategic missions, sometimes it's still tough to get clients to engage in negotiations. Go-to-market strategies are always a challenge for startups. Furthermore, the cultural dynamics within certain markets have compelled us to make strategic pivots in our business approach. For instance, the country that had the best fit with our background wasn't the most open to business rounds.????

4 - How is your offering different from your competitors and other market players?

Despite the presence of major players, we conducted a detailed market assessment to develop a unique value proposition. 

The first area where we truly stand out is by offering a highly customizable service. Imagine our portfolio as a set of Lego bricks, where clients can select the asset classes and analytical tools that best fit their specific needs.

The second point is our customer service, backed by a team of experts in technology and finance. Our dedicated team possesses deep knowledge in both domains, enabling us to truly understand the dynamics of the market and address the unique needs of our clients.

5 - What did you find at LHoFT / What did LHoFT bring you?

Lhoft offers a great infrastructure and visibility, fostering the growth of fintechs and financial market companies. Since our establishment, we have nurtured robust connections, actively engaged in industry events, and expedited our European expansion thanks to Lhoft's instrumental support.

We are confident that selecting Luxembourg as the location to establish our company was the right decision. We have already formed partnerships with esteemed institutions such as the Luxembourg Stock Exchange, and our prime location within Lhoft offers exceptional infrastructure specifically designed for fintechs, startups, and companies operating in the financial market.

6 - What's next?

We have successfully moved past the product-market fit phase and have a robust and valuable solution for the market. Our focus is on expanding our client portfolio and establishing ourselves as a significant player in the European landscape.