The agreement allows ING Luxembourg to offer businesses extra financing opportunities on favourable terms and fits in well with its desire to support local businesses – particularly SMEs, which are key players in the development of Luxembourg’s economy.

A prime example
ING has already supported several dynamic businesses under the agreement. One of those companies is TheMarketsTrust, an innovative start-up in the FinTech and Healthcare sectors.
The company was founded in 2013 and has won numerous awards for innovation. Its projects are supported by the European Commission and the government of Luxembourg. It was elected ‘Start-up of the Year’ in December 2015 for its MyHippocrates project.

Innovation in the FinTech sector
As one of its flagship projects, TheMarketsTrust wants to create Europe’s top fully automated ratings agency: TheMarketsTrust Rating Services. TheMarketsTrust Rating Services will likely be launched during the first quarter of 2016 and will create 60 highly skilled jobs. In the longer term, it plans to create over 200 jobs.

Innovation in the medical sector
TheMarketsTrust also invests in the medical sector. More specifically, it provides secure management systems for medical data. The MyHippocrates platform lets doctors and patients share medical data securely. It therefore allows for better use of these data and better quality of care, whilst guaranteeing the confidentiality of the shared data.

TheMarketsTrust is based in Luxembourg City and currently employs 20 people. It is expanding rapidly thanks to the support from ING.

Evangelos Papadopoulos, CEO and founder of TheMarketsTrust, stressed the quality of service offered by ING: “ING does not just listen to businesses but actively supports them in their projects and closely monitors the development needs of innovative companies.”

“The projects of TheMarketsTrust are supported by the InnovFin SME Guarantee Facility, with the financial support of the European Union via the financial instruments of the Horizon 2020 programme and the European Fund for Strategic Investments (EFSI) established under the Investment Plan for Europe. The EFSI aims to provide financial assistance and implement productive investments in the European Union, whilst ensuring greater access to financing.”