Source: The LHoFT
Mash, the market leading European payment and lending company, has become the first Innovation Partner of the Luxembourg House of Financial Technology (The LHoFT Foundation), Luxembourg’s dedicated financial technology innovation hub.
Mash has been at the forefront of Fintech innovation since 2007, developing advanced risk algorithms, machine learning competence and a cutting-edge technology platform to deliver enhanced finance and payments solutions in Finland, Sweden, Poland and Spain. The company created a presence in Luxembourg in 2015.
Mash’s decision to become an innovation partner of the LHoFT is in complement to their innovation and growth strategy as they seek to rapidly build their business across Europe. Mash extended its merchant and consumer services to the Spanish market in November 2017 and has plans for further growth both in Europe and beyond. Mash’s partnership with the LHoFT will support them in their ambitious expansion and in driving Fintech Innovation within Luxembourg and internationally.
Mash’s recurring revenue in 2017 increased by 26% compared to 2016, up to 13.2 million euros while they reported a 78% increase in 1Q 2018 revenues compared to 1Q 2017. They have emphasised continuous investment in people alongside the company’s technology platform in order to enhance their product and business model, while also cementing close and mutually beneficial relationships with partners, most recently announcing a significant collaboration with market leading PoS provider, Verifone, to deploy their pay later solution to hundreds of thousands of merchants across Europe.
In June 2018, Mash was chosen from over 1800 European companies to be included in the prestigious FinTech50, substantiating it positioning as one of Europe’s hottest Fintech companies.
Further to becoming an Innovation Partner, Mash has also moved its Luxembourg staff to the landmark LHoFT facility at the House of Startups as from July 1st.
Nasir Zubairi, CEO of the LHoFT commented: “Mash is a European leader in Fintech and we are proud and excited that they have chosen to make Luxembourg a European base, and that they have committed to working collaboratively with the LHoFT in order to support each other in our mutual growth goals.”
James Hickson, Group CEO of Mash added: “Luxembourg has proved to be a fantastic location from which to grow our business and is highly complementary to our centers across Europe. Our decision to build a business development and management presence here has already proved beneficial, including the ability to attract top tier international talent, a strong investor base and a thriving FinTech ecosystem. We are proud to be the LHoFT’s first innovation partner and look forward to contributing meaningfully to the ecosystem."
About the LHoFT Foundation
The LHoFT Foundation is a public - private sector initiative that drives technology innovation for Luxembourg’s financial services industry, connecting the domestic and international Fintech community to develop solutions that shape the world of tomorrow. Senior executives from 13 leading private sector institutions sit on our board as leadership circle partners alongside representative from the Luxembourg Government, such as our Chairman, Pierre Gramegna, Luxembourg Minister of Finance, as well as leaders of the Luxembourg Chamber of Commerce, Luxembourg for Finance and PROFIL, the Luxembourg Financial Industry Federation.