The blockchain-powered commodity post-trade processing firm has officially selected its Lisbon office as the company’s development center. VAKT has currently more than 60 employees in Lisbon and is targeting a further 30 hires in the Portuguese capital.
The company entered its first market – the North Sea BFOET oil market – in November 2018, swiftly followed by the launch of its Lisbon office the following February 2019. As VAKT browses for new collaborators capable of developing and accelerating the product roadmap as the company looks to launch into new markets and expand functionality, the firm is also looking to make new hires in the London headquarters for business and operational roles.
André Vasconcelos, VAKT Country Head for Portugal, commented: “Our experience in Lisbon so far has been nothing short of exemplary. This is a hotspot for developer talent, with first class technical institutions, a high number of local engineers and a perfect gateway from London to continental Europe. We are proud of the team we have built so far, and very confident we can achieve the new target in a few months.”
Etienne Amic, Chief Executive Officer of VAKT, said: Amic added: “We are a fast-growing and tight-knit startup working across London and Lisbon. What’s more, we are one of the few companies in the world with a deployed, enterprise grade solution underpinned by blockchain. Ours is an exciting story already and it has only just started – I look forward to discussing it with the best and brightest of Lisbon’s tech talent at WebSummit.” VAKT will be at WebSummit from 4th-7th November.
Amic was appointed CEO in February 2019 after leading commodities trading divisions of many leading banks and financial institutes throughout the years. VAKT has already received investment from commodities giant like Shell, BP, and Equinor.
“I was aware of VAKT from the start, but what impressed me was the success the company has had as a creation by a consortium of traders. To have such prestigious companies pulling in the same direction – many of them, competitors – tells you this is something very powerful that the industry really needs”, said Amic at the time of appointment.