Empowering investors to make a difference: Moniflo launch party

Luxembourg must continue to evolve and reinvent itself in order to stay ahead of the curve, said finance minster Gilles Roth (CSV), speaking at Moniflo’s launch event in late February. As a “homegrown fintech startup,” the values-based investing platform “ticks several boxes at the same time.”

“Our future demands bold, collective action now,” said Ala Presenti, co-founder, head of finance and ESG lead of the value-based investing platform Moniflo, which held its official launch party at Brasserie Abtei on 29 February 2024. “Sustainability isn’t just a trend. It’s an imperative for a better tomorrow.”

“Three years ago, Moniflo was an idea that was sparked by the urgent need for a shift on how we approach investing,” she explained. And that idea is now a reality. In late February, the Luxembourg-based fintech that allows users to filter funds by financial criteria, sustainability, social impact or personal values. “It’s a sustainable investment platform designed to empower investors--big and small--to make a real difference.”

Moniflo “ticks several boxes” for Luxembourg financial sector

“Luxembourg, as a financial centre, must continually evolve and reinvent itself to stay ahead of the curve,” said finance minister (CSV) in his introductory remarks to the event. “We are witnessing a rapid digitalisation and also a disintermediation in financial services, which presents both challenges and opportunities for our economy.”

“I’m encouraged to see ambitious projects emerging from the Luxembourg ecosystem--projects that are driven by local entrepreneurs and supported by local angel investors, tech suppliers and early adopters from the asset management sector,” he continued. “As a homegrown fintech startup focused on sustainable investments, you [Moniflo] tick several boxes at the same time.”

“It combines several areas that are strategically important to the Luxembourg government: sustainable finance, digitalisation and leveraging blockchain technology in capital markets, and with the aim to ultimately lower the costs of financial services for retail clients.”

“Must embrace innovation”

As old business models become obsolete, economies must adopt, Roth argued. “Luxembourg has become the dominant fund distribution centre thanks to being a first mover. Today, as technology accelerates, we must embrace innovation such as blockchain and AI to maintain our competitive edge.” He added that as finance minister, he intends to introduce legislative exchanges to support the financial centre in its digital transition, including in areas such as digital assets and tokenisation.

I want to applaud Moniflo for its pioneering use of DLT records for Ucits fund custody

Gilles Roth, finance minister, CSV

“In this context, I want to applaud Moniflo for its pioneering use of DLT [digital ledger technology] records for Ucits fund custody,” said Roth. “Importantly, this is achieved with the approval of the CSSF [Luxembourg’s Financial Sector Supervisory Commission]. The government can create a conducive environment for such innovation, while our regulator can help create investor trust, thanks to a rigorous, yet forward-looking supervision.”

Continue to develop sustainable finance

But it’s up to the financial centre to “leverage” Luxembourg’s ecosystem and “seize new opportunities,” he said. “As a leading financial centre, Luxembourg has a responsibility to drive sustainable finance forward.” The country is today recognised as a “global hub” for sustainable finance, “but this is not a reason to rest on our laurels.”

“I want to further develop the expertise in Luxembourg around sustainable finance and support innovation in this area. This includes positioning Luxembourg in new and emerging fields such as gender finance, biodiversity and also transition funds… And as it so happens, Moniflo’s mission aligns perfectly with the scope,” Roth concluded, before congratulating the founders, “who had the courage to turn their ideas into reality.” “The success of homegrown startups is always also a success for the financial centre community as a whole.”

Moniflo a “pioneer”

For CEO and founder , Moniflo aims to help people invest in a way that allows them to push the world in the direction they want it to go--and earn some money. People want to understand what their money does, while sustainability means something different to everybody. Trust, he added, is very important. “If you tell people they’re not investing in oil, you better make sure they’re not investing in oil.” The solution, therefore, needs to be something that’s straightforward, customisable and ensures confidence.

Moniflo offers a transparent, easy-to-use, affordable platform that gives people the possibility to decide exactly how they want to invest their money, Bock explained. Users can filter by category, theme or UN sustainable development goals; they can exclude sectors in which they do not wish to invest; they can read articles to learn more about finance; they can see the historical performance of a fund, key performance indicators or short, Instagram-like stories from asset managers.

If there’s somebody that is pioneering, it should be our country

Georges Bock, founder and CEO, Moniflo

“Being a DLT blockchain custody provider is very important,” concluded Bock. “Why? Because as it is safe, as it is efficient, it is more affordable for clients. We could not make the same offer with other technology. That’s really what innovation is about.” Moniflo is a pioneer in this domain, but other countries are ahead of Luxembourg.

“My biggest fear is always for Luxembourg that we might miss the train.” It’s key to start moving now, he told attendees. “If there’s somebody that is pioneering, it should be our country. That’s my invitation to all of you--let’s cooperate. Let’s not sleep. Let’s make it happen.”

See who attended

Georges Bock (Moniflo), finance minister Gilles Roth (CSV), Ala Presenti (Moniflo), Martin Vogel (Waystone) at Moniflo’s launch event on Thursday 29 February 2024. Photo: Anna Albu Photography/Moniflo

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