While significant support was provided by Investessor, the French Business Angels’ network from which the company raised almost €300k, Lingua Custodia succeeded in this new round of funding thanks to continued confidence from existing shareholders and its ability to convince new French and European individual investors.
From this initial observation came the idea of building machine translation engines specifically designed for the financial industry and specialised by type of document/linguistic sub-domain. The aim was twofold: cater to the full spectrum of industry needs and achieve a superior translation quality thanks to highly domain-focused deep learning algorithms. The result: tapping into an estimated market potential of €1 billion in Europe alone.
The company presides over accounts with more than fifty clients, including heavyweights from the French and European banking industries.
• Customised machine translation engines which learn from the specific vocabulary used by a financial institution and personalise its translations
• An innovative approach combining both artificial and human intelligence to deliver finalised, ready to use translations.
Lingua Custodia has consolidated the quality of its engines and successfully tested its business model in France, now intending to strongly accelerate its growth in the European market.
Olivier Debeugny, Founder and CEO of Lingua Custodia, said “This fundraising is a milestone in Lingua Custodia’s development. It is a testament to the quality of our research and technology and the strengths of our foundations. The combination of these elements constitutes the basis on which we will be able to grow our position in Europe, before turning to the Asian market over the next 2 years.”
Composed of a team of 15 people, Lingua Custodia - the language custodian in Latin - has been recognised as a Young Innovative Company by the Ministry of Research, certified by Finance Innovation since 2014 and is one of the founding members of the France Fintech association created in 2015. The company is also a member of the LHoFT (Luxembourg House of Financial Technology) since 2018.