Launched in 2013, fundtech Domos FS has significantly accelerated its growth over the past twelve months. It has built a portfolio of 20 clients. On Thursday 17 October 2019, the fundtech announced at its annual conference, held at the Luxembourg House of Financial Technology (LHoFT), that more than 5% of the AIFMD reports sent to the Commission de Surveillance du Secteur Financier (CSSF) in 2018 were produced by its solution: DOMOS.
Moving to a scale-up business
As Domos FS celebrates its sixth year in business, it is increasing its investments. As such, it is now moving to a scale-up phase.
Arnaud Vinciguerra, CEO and founder of Domos FS, says :
“We are emerging from the start-up phase due to a robust business model and our ability to innovate. Our business model, which combines financial and technological intelligence, meets a specific need in the unlisted alternative investment fund market. By automating the back and middle office processes of these funds, our solution covers the entire value chain of portfolio management, from transaction to risk, compliance, reporting and data analysis.”
“Only 4% of our R&D time is spent on fixing and debugging technical issues, proving the stability of our solutions.”
The fundtech, which is operating in the LHoFT, has a market share of more than 5% in the AIFMD Annex IV reporting to the CSSF. In other words, 5% of all the reports sent to the CSSF in 2018 originated from DOMOS.
Benoît Moulin, Executive Sales and co-founder of Domos FS, highlights :
“We know how heavy the AIFMD, the CSSF’s automatic information exchange circular 18/698 or circular 19/708 are for alternative investment fund managers. We have developed a dedicated regulatory reporting module that allows these players to automate both the production and the submission of these reports to the regulators.”
Technological and human developments
To further develop its business, Domos FS is focusing on tech solutions.
Fanny Metz, Client Services Manager and co-founder of Domos FS, summarises the developments :
“The regulatory landscape is changing rapidly, placing compliance officers in an increasingly complex role. Our new modules allow a ManCo to manage all its operations.
We have recently implemented a Compliance module to monitor ongoing activities, assess compliance in real time and manage due diligence and delegation processes.
A ManCo active in Real Estate is using our Limited Partners module. The aim is to reintegrate its transfer agent activity into its organisation.
Finally, our Investments module offers a comprehensive solution to investment management.”
Domos FS is looking to recruit new people dedicated to R&D and customer service to strengthen its current team of ten employees, based both in Luxembourg and in Paris.
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