logo image
  • News
    • People Moves
    • Deal Wins
    • Demand Drivers
    • M&A and Funding
    • Financial Results
    • Technology
    • Academia
    • Industry News
    • Features
    • Machine Translation
    • — Divider —
    • Slator Pro
    • — Divider —
    • Press Releases
    • Sponsored Content
  • Data & Research
    • Research Reports & Pro Guides
    • Language Industry Investor Map
    • Real-Time Charts of Listed LSPs
    • Language Service Provider Index
  • Podcasts & Videos
  • Events
    • Design Thinking – February 2021
    • — Divider —
    • SlatorCon Coverage
    • Other Events
  • Directory
  • RFP Center
  • Jobs
MENU
  • News
    • People Moves
    • Deal Wins
    • Demand Drivers
    • M&A and Funding
    • Financial Results
    • Technology
    • Academia
    • Industry News
    • Features
    • Machine Translation
    • — Divider —
    • Slator Pro
    • — Divider —
    • Press Releases
    • Sponsored Content
  • Data & Research
    • Research Reports & Pro Guides
    • Language Industry Investor Map
    • Real-Time Charts of Listed LSPs
    • Language Service Provider Index
  • Podcasts & Videos
  • Events
    • Design Thinking – February 2021
    • — Divider —
    • SlatorCon Coverage
    • Other Events
  • Directory
  • RFP Center
  • Jobs

Advertise on Slator! Download the 2021 Online Media Kit Now

  • Slator Market Intelligence
  • Slator Advertising Services
  • Slator Advisory
  • Login
Search
Generic filters
Exact matches only
Advertisement
Lingua Custodia Raises USD 1.3m Ahead of Luxembourg Launch

1 year ago

July 30, 2019

Lingua Custodia Raises USD 1.3m Ahead of Luxembourg Launch

M&A and Funding ·

by Esther Bond

On July 30, 2019

1 year ago
M&A and Funding ·

by Esther Bond

On July 30, 2019

Lingua Custodia Raises USD 1.3m Ahead of Luxembourg Launch

Financial machine translation company Lingua Custodia has received funding totalling EUR 1.15m (USD 1.28m), which it will use to open its first branch outside France. Slator contacted Olivier Debeugny, CEO of Lingua Custodia, to find out more about the funding round and how the company intends to deploy the funds.

Debeugny told Slator EUR 300,000 came from Investessor, a French angel investor network, with the rest being contributed by individuals connected with the financial industry. New investors provided some EUR 0.5m, while existing shareholders contributed a further EUR 300,000.

This latest funding round brings total funds raised to EUR 2.4m (USD 2.67m). Lingua Custodia did not disclose its valuation.

Advertisement

Lingua Custodia was founded by former asset management professionals in 2011, and the company’s first engine was released almost five years ago in 2014. The company was launched with the aim of streamlining the translation process for finance professionals and now offers engines in nine languages, with Chinese and Japanese having recently been added.

Slator 2020 Language Industry Market Report

Data and Research, Slator reports
55 pages. Total market size, biz dev and sales insights, TMS & MT review, buyer segment analysis, M&A, Covid impact & outlook.
$480 BUY NOW

Debeugny explained that their machine translation engines have been developed specifically for “investment finance and corporate finance.” The company’s clients are “predominantly financial institutions on the buy-side or on the sell-side — therefore, asset managers but also brokers, custodians, private banks…,” Debeugny said. Lingua Custodia is now branching out into the insurance sector “in partnership with insurance groups,” he added.

Asked what framework Lingua Custodia uses, Debeugny said they are “experimenting and monitoring various frameworks and are currently focusing on Sokeye,” Amazon’s open-source, sequence-to-sequence toolkit for NMT. “We are also dedicating a large part of our resources to our specialized data collection, classification, and cleaning processes,” he said.

MIFID & Mainstream MT

Since Lingua Custodia’s inception, “machine translation has become mainstream and there is a strong interest for domain-specialized machine translation services,” according to Debeugny. Demand is widespread, with Lingua Custodia observing “traction in all geographies and from clients of all sizes,” he said.

“Machine translation has become mainstream and there is a strong interest for domain-specialized machine translation services” — Olivier Debeugny, CEO, Lingua Custodia

One factor driving demand for machine translation in the financial services space is the MIFID II directive, which was introduced in early 2018, Debeugny said: “The increasing cost of regulation for financial institutions is indeed a driver to reduce structural costs and this includes translation. This factor is definitely fuelling our growth.”

MIFID II obliges fund managers to split out research costs from commission costs, which has prompted them to look for ways to reduce spend on research (including translation of research) since they now have to be able to justify the cost to the investor.

Lingua Custodia plans to use the funds raised to open up a branch in the European investment fund hub of Luxembourg, Debeugny told Slator. The office opening, scheduled for September 2019, will see Lingua Custodia launch its first location outside France. The company also plans to expand beyond Europe’s borders and into Asia in the next two years.

Slator 2019 Language Industry M&A and Funding Report

Data and Research, Slator reports
34-page report. Language industry M&A and startup funding. Transaction valuations, trade sales, financial backing, private equity influence, main rationale, seller verticals, geographical analysis, startup funding analysis.
$450 BUY NOW


TAGS

AmazonbankingbrokersfinanceFrancefundinginsuranceInvestessorInvestmentinvestment fundsLingua CustodiaLuxembourgmachine learningmachine translationMIFID IIMTneural machine translationNMTOlivier DebeugnySockeye
SHARE
Esther Bond

By Esther Bond

Research Director at Slator. Localization enthusiast, linguist and inquisitor. London native.

Advertisement

SUBSCRIBE TO THE SLATOR WEEKLY

Language Industry Intelligence
In Your Inbox. Every Friday

SUBSCRIBE

SlatorSweepSlatorPro
ResearchRFP CENTER

PUBLISH

PRESS RELEASEDIRECTORY LISTING
JOB ADEVENT LISTING

Bespoke advisory including speaking, briefings and M&A

SLATOR ADVISORY
Advertisement

Featured Reports

See all
Slator 2020 Language Industry M&A and Funding Report

Slator 2020 Language Industry M&A and Funding Report

by Slator

Slator 2021 Data-for-AI Market Report

Slator 2021 Data-for-AI Market Report

by Slator

Slator 2020 Medtech Translation and Localization Report

Slator 2020 Medtech Translation and Localization Report

by Slator

Pro Guide: Sales and Marketing for Language Service Providers

Pro Guide: Sales and Marketing for Language Service Providers

by Slator

Press Releases

See all
iDISC Awarded ISO 27001 Information Security Management Certification

iDISC Awarded ISO 27001 Information Security Management Certification

by iDISC

XTRF Launches a Bi-Monthly Free Networking Event for Localization Professionals

XTRF Launches a Bi-Monthly Free Networking Event for Localization Professionals

by XTRF

150 Million Words Translated: the German EU Council Presidency Translator Sets New Records

150 Million Words Translated: the German EU Council Presidency Translator Sets New Records

by Tilde

Upcoming Events

See All
  1. Memsource MT Post-Editing Pricing Models Webinar

    Pricing Models for MT Post-Editing Workshop

    by Memsource

    · February 3

    Hear a panel of innovative localization professionals share different approaches for MT post-editing pricing.

    More info FREE

Featured Companies

See all
Text United

Text United

Memsource

Memsource

Wordbank

Wordbank

Protranslating

Protranslating

Seprotec

Seprotec

Versacom

Versacom

SDL

SDL

Smartling

Smartling

Lingotek

Lingotek

XTM International

XTM International

Smartcat

Smartcat

Translators without Borders

Translators without Borders

STAR Group

STAR Group

memoQ Translation Technologies

memoQ Translation Technologies

Advertisement

Popular articles

Why Netflix Shut Down Its Translation Portal Hermes

Why Netflix Shut Down Its Translation Portal Hermes

by Esther Bond

The Slator 2020 Language Service Provider Index

The Slator 2020 Language Service Provider Index

by Slator

Top Language Industry Quotes of 2020

Top Language Industry Quotes of 2020

by Monica Jamieson

SlatorPod: The Weekly Language Industry Podcast

connect with us

footer logo

Slator makes business sense of the language services and technology market.

Our Company

  • Support
  • About us
  • Terms & Conditions
  • Privacy Policy

Subscribe to the Slator Weekly

Language Industry Intelligence
In Your Inbox. Every Friday

© 2021 Slator. All rights reserved.

Sign up to the Slator Weekly

Join over 13,000 subscribers and get the latest language industry intelligence every Friday

Your information will never be shared with third parties. No Spam.