Mohammad Arrab, founder & CEO of Invoport;
Chronicle.lu recently had the opportunity to speak with Mohammad Arrab, founder and CEO of Invoport SARL, about this Luxembourg-based online platform which aims to facilitate the digital execution of fund administration tasks.
This article forms part of a series of interviews with "newcomers" (i.e. new startups) hosted at the Luxembourg House of Financial Technology (LHoFT), where Invoport has been present since 2 February 2023. The startup is also an alumnus of the latest edition of LHoFT's CATAPULT: Kickstarter fintech acceleration programme.
Chronicle.lu: Please introduce your company and the products/services it offers.
Mohammad Arrab: Our platform, Invoport, includes different modules to digitise the daily administrative services of fund administrators and managers. For instance, it helps the users with the investor services by interacting digitally with the investors during the onboarding process and performing the periodic review, [which] makes the process accurate and painless, as well as organising the capital notices, the dividend distributions, the capital account statements, the register and communicate the NAV [net asset value] and periodic financial reports to the investors over the lifetime of the investment fund.
Additionally, it includes functions that can be used internally for planning, coordinating, oversight purposes in addition to the performance review [that] makes the decision more data-driven to be more effective and add value for the business. It also helps interact digitally and [in] real time with different parties who can be external parties such as lawyers, auditors and fund and investment managers.
Chronicle.lu: What led to the creation of your company?
Mohammad Arrab: I believe in the role of technology for the well-being for mankind. I have the passion to digitalise and automate the work we must do to have a better work environment. When I started working in the fund industry, I realised that the work is very complex and done manually without the support of any tool other than MS Office and simple accounting software what leads to many mistakes and loss of data. The daily life at the workplace was very stressful so I made a challenge to myself to employ all my programming skills to develop a tool that helps the professionals in the market have a good work environment to meet the increasing demand following the market expansion post Brexit and the lack 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.
Chronicle.lu: Why Luxembourg?
Mohammad Arrab: Luxembourg is the biggest fund investment hub in Europe, [which] makes Luxembourg the best market for Invoport. Our solution emerged from the challenges of the day-to-day job of fund administrators.
Chronicle.lu: What makes your company and its offer different/unique?
Mohammad Arrab: We are a passionate team having deep knowledge of both technology and fianancial services. This makes us much more efficient in the development process with focusing on the user's needs. Moreover, our efficient approach helps us make available to the clients a cost-efficient solution and make techology more accessible to the fund administrator and mananger [which], in return, helps them improve the return to the investors making their investment products more attractive.
Chronicle.lu: What's next for your company?
Mohammad Arrab: We will continue the development of our platform to include more functions. We are not only aiming to build a digital workplace for investment funds but also to robotise the platform to require less intervention from the users to deliver their services.
