NewTech Friday: invoport – Digitally performing funds administration tasks

Luxembourg fintech startup invoport is one of the five winners of the fourth edition of the LHOFT Catapult: Kickstarter program. Its Founder, Mohammad Khair Arrab, tells us about his solution that makes the job of investment fund administrators and managers much easier.


What led to the creation of invoport?

I believe in the role of technology for the well-being of mankind. I have the passion to digitalize and automate the work we must do to have a better work environment.

When I started working in the fund industry, I realized that the work is very complex and done manually without the support of any tool other than Excel, which leads to many mistakes and loss of data.

The daily life at my workplace was very stressful, so I made a challenge to myself to employ all my programming skills to develop a tool that would help professionals in the market have a good work environment, to meet the increasing demand which followed the market expansion after Brexit, and to compensate for the shortage of qualified human resources. Indeed, I must admit, this required much courage as I had to learn a lot to be able to create such a tool.

I decided to make it online, as the internet has changed our lives incredibly and this is the trend of all emerging solutions nowadays.

I built invoport as an MVP and started doing demos for my colleagues, who were really impressed.

One day, I showed invoport to a colleague of mine who liked it and introduced it to his former employer, who became our pilot client and so we tested invoport on real data. Apparently, it worked!

We set up the company and started the development of invoport as a transfer agent tool, covering different aspects to serve more investment funds and to help with different types of investment funds.