– PayGate cooperates with BNP Paribas to accelerate European localization.
– PayGate decides moving to BNP Paribas Lux FUTURE LAB
– Luxembourg FUTURE LAB, the first financial incubator in Europe, picks up Korean Fintech Enterprises.
In January of the next year, PayGate decides to emerge as a Nest in the Luxembourg FUTURE LAB, founded by BNP Paribas Bank.
Luxembourg FUTURE LAB is a space created by BGL BNP Paribas Bank in 2010 for global Fintech start-ups, and is also the number one space that European Fintech companies want to move into. PayGate has become the first Korean company to be selected for FUTURE Lab Incubator after an intense competitions among startups for six months from January 2017.
FUTURE Lab supports innovative start-ups that has socio-economic impact in Europe and in Luxembourg, . It doesn’t only provide a simple work space, but it also provides practical support in many areas such as education, networking, consulting, and partnerships with financial institutions.
In addition, FUTURE Lab selects financial start-ups only, so PayGate S.A. will work with various Fintech companies in the Lab. Gill, the General Manager of PayGate S.A. says “We will focus on collaborations with various Fintech companies in the Lab, so we can provide multiple financial services based on our platform, Seyfert”
BOD, the accounting firm will be responsible for audit of PayGate S.A. It expects PayGate S.A. will obtain PI license within this year. Payment Institute License is the License granted by CSSF, the Financial Supervisory Service in Luxembourg, which permits the company to provide banking services such as deposit, payment, remittance, credit card payment, foreign exchange and more. It grants all such business authority in European districts.