Akkermans takes chair as Data4s secures funding

Akkermans takes chair as Data4s secures funding

Data4s, the risk management software spin-off of Belgium's K.U.Leuven University, has secured EUR1.75 million in a second financing round.

The funding round was led by Gevaert, the financial holding of Agfa-Gevaert with further investments from Mobistar, Telenet and KBLux. Co-investor was former S1 Corporation chairman and e-finance pioneer Michel Akkermans. Gemma-Frisius Fund, the investment fund of the K.U.Leuven together with KBC Investco and Fortis Private Equity and Data4s' original lead investor, also pledged reinvestment in the company.

Data4s provides financial institutions and telecom operators with risk analysis and management solutions for customer portfolios. The company says it will use its newly acquired funds to accelerate its international growth strategy and further product development.

Herman Verrelst, founder and managing director of Data4s, comments: “The combination of precise identification of existing or upcoming risks and the accurate measurement of the impact of individual or aggregate incidents is the basis of the efficiency and robustness of our solutions.”

Michel Akkermans will serve as chairman of the board. Data4s is his second major venture in as many months, having recently surfaced at the helm of Clear2Pay, a Belgium-based vendor of online payments software for financial institutions, which in November last year secured early stage funding of EUR1.8 million from venture capitalist Big Bang Ventures and a consortium of employees.

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