LUXHUB raises EUR 7.4 mln in internal funding round

The round was led by its founder banks, Raiffeisen Bank, BGL BNP Paribas, POST Luxembourg and SPUERKEESS. According to the official press release, the funding will be used to accelerate the development of LUXHUB’s proprietary Open Banking and Open Finance products, and further catalyse their pan-European growth aspirations.

LUXHUB emerged from the combined vision of four Luxembourg-based banks to become a catalyst of the European financial industry’s evolution towards Open Banking. LUXHUB’s initial objective was to provide an effective PSD2 compliance product for financial institutions in Luxembourg and throughout Europe.