Credit: © Kidola

Two Luxembourg startups, Kidola and Financial Navigator, recently secured significant funding for the development of their respective businesses.

Kidola

Childcare management platform Kidola has raised €1.3 million in seed funding to support tech development, team growth and expansion into France. Luxembourg venture capital (VC) firm Expon Capital led the fundraising round for the Dudelange-based startup, which was created by three new parents who struggled to notify their childcare providers when there was a change in their schedules. Leveraging their backgrounds in IT and technology, they developed Kidola as a digital solution to streamline nursery operations and enhance parent-caregiver interactions.

Kidola was founded in 2020. Five years on, more than 30,000 caregivers across Luxembourg, France and Belgium use its digital platform. The tool enables educators to log parent communication, attendance and children's activities such as meals and naps, while sharing real-time updates and photos with parents. Nursery managers benefit from administrative tools such as invoicing, business performance and reporting without requiring extensive training.

The fundraising comes after Kidola secured €600,000 in funding in January 2023 through Project Rise, an investment initiative led by seasoned Luxembourg tech entrepreneurs Christophe Folschette, Thibaut Britz and Patrick Kersten. This investment aimed to support Kidola's expansion into new markets, particularly Belgium.

Financial Navigator

Luxembourg fintech Financial Navigator has secured €1.1 million to scale its team, enhance its technology and boost go-to-market efforts. Established in 2020, Financial Navigator offers a user-centric treasury management system (TMS) tailored to the needs of mid-sized businesses. The platform supports CFOs by offering real-time cash and liquidity visibility, automation of payment processes, and seamless bank and ERP integrations.

The funding was raised under the Young Innovative Enterprise scheme, an R&D support initiative from Luxembourg's Ministry of the Economy, with support from national innovation agency Luxinnovation and private investors. The Financial Navigator team is actively hiring across development, product and commercial roles to meet increasing client demand.

The company, officially operated under the name A352, is headquartered at the Luxembourg House of Financial Technology (LHoFT).

News first published in Silicon Luxembourg.