According to Paulius Insoda, CEO of NFQ Technologies, the goals for the new team remain consistent with NFQ’s global mission: to help ambitious companies lead in their industries, create meaningful opportunities for NFQ talent, and strengthen the company’s reputation as a trusted technology partner.
The Canadian team consists of experienced consultants, engineers, project managers, and QA specialists. The division is led by Marc Somma, a seasoned entrepreneur with over 20 years of experience in building and scaling startups.
The mission of the new team is to establish NFQ’s presence in the Canadian market, continue on a path of organic and sustainable growth, and build a reputation as a strategic technology leader in the region.
With this latest expansion, Canada becomes the 10th country where NFQ operates. The company also has teams in Germany, Lithuania, Poland, Vietnam, Thailand, Singapore, and Egypt, with Denmark and Saudi Arabia added to the list last year.

NFQ continues its international growth by launching operations in Canada. This marks not only a new continent but also the 10th country where NFQ has established a presence.

NFQ Expands to North America

Through this collaboration, Euroleague Basketball aims to enhance the digital experience for its global fanbase by implementing solutions across its digital ecosystem. The partnership will focus on platform integration and enriched statistical data — a key area in the sports industry — to deliver a seamless, more engaging fan journey.
&#8220;NFQ was founded in Kaunas, the heart of Lithuanian basketball, where people live and breathe the game. As avid fans of the EuroLeague and the EuroCup, our engineers are beyond excited to join forces and create unparalleled experiences for fans worldwide. Together, we&#8217;re set to support Euroleague Basketball and its teams expand their reach and deliver more value to their partners,&#8221; states NFQ&#8217;s Head of Strategic Partnerships Lukas Inokaitis.
Platform integration will play a key role to enhance the fan digital experience with the integration of EuroLeague.TV, the league&#8217;s premium streaming service, directly into the Euroleague website, enabling fans to watch live Turkish Airlines EuroLeague and BKT EuroCup games without switching platforms. Other key improvements include a complete revamp of the website&#8217;s stats and standings sections, offering advanced statistic options that provide in-depth player and team performance analysis. Additionally, the platform architecture has been optimized to implement these changes without disrupting existing services.
&#8220;The key to implementing these changes and managing the complex architecture of the platform is avoiding the disruption of existing services. We believe that the solutions we developed and implemented will not only improve the fan experience but also grow revenue,&#8221; explains Mr. Inokaitis.
Further upgrades will include enhanced sponsor visibility, multilingual content streaming options, and an updated user login system. Fans will benefit from improved personalization features, localization in more than nine languages, faster performance, and new interactive features.
“NFQ are true software &amp; digital experts with extensive experience in delivering solutions to companies across different industries. This expertise, matched with their deep understanding of the sport of basketball and the expectations of its fans has been the perfect combination to achieve significant success in a very short time,” stated Alex Ferrer Kristjansson, Euroleague Basketball Marketing and Communication Chief Officer. “We have a long list of enhancements to be deployed in the upcoming months that we are confident will elevate the whole experience to a new level.”
This collaboration reinforces Euroleague Basketball&#8217;s digital strategy, positioning its platforms at the forefront of innovation. Last season, Euroleague.net saw an 8% increase in page views, reaching a record 97.9 million, while EuroLeague.TV has experienced a 37% subscribers growth during the current season, solidifying its place as a premier destination for basketball fans worldwide.
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<h3>About NFQ</h3>
NFQ Technologies is a strategic technology partner providing advisory and digital solutions to forward-thinking companies seeking digital transformation at scale. Operating in e-commerce, omnichannel retail, transportation, logistics, the sharing economy, travel, and finance, NFQ has a global presence in 9 countries across Europe, Asia, and the Middle East. With worldwide reach and expertise, NFQ&#8217;s technical teams have played a pivotal role in the success of startups and corporations, including HomeToGo, KAYAK, Shopware, valantic, and home24. 
<h3>About Euroleague Basketball</h3>
Euroleague Basketball (EB) is a global leader in the sports and entertainment business, devoted to running the top European competitions of professional basketball clubs under a unique and innovative organizational model. Owned and administered by some of the most successful and historic clubs in the world, EB manages the continent’s two premier men’s basketball competitions, the Turkish Airlines EuroLeague and the BKT EuroCup, as well as the sport’s premier under-18 showcase, the Adidas NextGen EuroLeague.
The EB competitions bring the elite of European basketball to all five continents and to the entire sports community through the OTT platform EuroLeague TV. EB also organizes a series of community and educational activities, led by the One Team program, in alignment with the United Nations Agenda 2030 Sustainable Development Goals. On the academic side, the EB Sports Business MBA trains future professionals in sports

Euroleague Basketball is joining forces with the software engineering and digital innovation company NFQ Technologies to enhance the user experience of both Euroleague.net and EuroLeague.TV.

Euroleague Basketball partners with NFQ to elevate the Digital Fan Experience

Here at NFQ, we strive to positively impact society. For the past two years, we&#8217;ve been proud supporters of <a href="https://www.linkedin.com/company/passerellesnum-riques/">Passerelles Numériques</a> Vietnam (PNV), a non-profit organization transforming the lives of underprivileged youth in Vietnam through IT education. They come from disadvantaged backgrounds, including poor families (with monthly incomes around $36 or less), ethnic minorities, and remote areas where technology is something out of reach, let alone IT education. By investing in the future of these students, NFQ and our friends are helping to break the cycle of poverty and create brighter futures for youth, their families and communities.
This year, thanks to the incredible generosity poured into the #PayForward campaign by our NFQ friends, employees, and the wider community, NFQ doubled the impact to $68,950.
This donation covers 1/6 of the total budget. In half a year, it will provide 130 current students with full IT tuition fee, $45 monthly living allowance and 17 dorm rooms (around 9 students each).
The journey should not end here. Witnessing the students&#8217; joy and knowing their educational pathways are secure is our greatest reward. PNV&#8217;s mission continues, and so does our support.
Stay connected as we continue to invite you to empower the next generation of tech pioneers! 
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<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-9002" src="https://api.nfq.com/assets/uploads/2024/05/pay-forward-2-300x200.jpeg" alt="" width="300" height="200" srcset="https://api.nfq.com/assets/uploads/2024/05/pay-forward-2-300x200.jpeg 300w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-2-1024x683.jpeg 1024w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-2-768x512.jpeg 768w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-2-1536x1024.jpeg 1536w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-2.jpeg 2048w" sizes="(max-width: 300px) 100vw, 300px" /> <img loading="lazy" decoding="async" class="alignnone size-medium wp-image-9003" src="https://api.nfq.com/assets/uploads/2024/05/pay-forward-3-300x169.jpeg" alt="" width="300" height="169" srcset="https://api.nfq.com/assets/uploads/2024/05/pay-forward-3-300x169.jpeg 300w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-3-1024x576.jpeg 1024w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-3-768x432.jpeg 768w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-3-1536x864.jpeg 1536w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-3.jpeg 2048w" sizes="(max-width: 300px) 100vw, 300px" /> <img loading="lazy" decoding="async" class="alignnone size-medium wp-image-9005" src="https://api.nfq.com/assets/uploads/2024/05/pay-forward-5-200x300.jpeg" alt="" width="200" height="300" srcset="https://api.nfq.com/assets/uploads/2024/05/pay-forward-5-200x300.jpeg 200w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-5-683x1024.jpeg 683w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-5-768x1152.jpeg 768w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-5-1024x1536.jpeg 1024w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-5.jpeg 1280w" sizes="(max-width: 200px) 100vw, 200px" /> <img loading="lazy" decoding="async" class="alignnone size-medium wp-image-9006" src="https://api.nfq.com/assets/uploads/2024/05/pay-forward-6-300x189.jpeg" alt="" width="300" height="189" srcset="https://api.nfq.com/assets/uploads/2024/05/pay-forward-6-300x189.jpeg 300w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-6-1024x646.jpeg 1024w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-6-768x484.jpeg 768w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-6-1536x968.jpeg 1536w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-6.jpeg 2048w" sizes="(max-width: 300px) 100vw, 300px" /> <img loading="lazy" decoding="async" class="alignnone size-medium wp-image-9007" src="https://api.nfq.com/assets/uploads/2024/05/pay-forward-300x169.jpeg" alt="" width="300" height="169" srcset="https://api.nfq.com/assets/uploads/2024/05/pay-forward-300x169.jpeg 300w, https://api.nfq.com/assets/uploads/2024/05/pay-forward-768x432.jpeg 768w, https://api.nfq.com/assets/uploads/2024/05/pay-forward.jpeg 800w" sizes="(max-width: 300px) 100vw, 300px" />

This year, thanks to the incredible generosity poured into the #PayForward campaign by our NFQ friends, employees, and the wider community, NFQ doubled the impact to $68,950

130 Students Can Keep Their IT Education Dreams: #PayFoward to PNV Vietnam

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Venture Capital (VC) funds &#8211; despite the gradually deteriorating economic situation in Europe &#8211; continue to actively invest in startups on our continent. However, they are much more selective in choosing investments, and the valuations of companies have also dropped, according to research carried out by investment firm Anthemis Group. The key to the investors&#8217; money is now a good prototype of the final product, the so-called MVP, that will show its potential, said Paulius Insoda, CEO at NFQ Technologies, an international IT company helping global brands create innovation recently opened its Polish branch in Krakow.
<img loading="lazy" decoding="async" class="rounded-lg" src="https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format" sizes="(max-width: 800px) 100vw, 800px" srcset="https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 640w, https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 750w, https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 828w, https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 1080w, https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 1200w, https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 1920w, https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 2048w, https://cdn.sanity.io/images/9aew9u1d/stage/cdae26e5909b138e8e0fa04752c0e3e03ff83516-3074x1336.jpg?rect=379,0,2317,1336&amp;w=789&amp;h=455&amp;sharp=25&amp;q=90&amp;fit=fill&amp;auto=format 3840w" alt="VC funds keep on investing in European startups, but much more selectively" width="789" height="455" data-nimg="1" />
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<div class="text-content-dark [&amp;_h1]:my-12 [&amp;_h1]:md:my-20 [&amp;_h1]:text-4xl [&amp;_h1]:sm:text-5xl [&amp;_h1]:lg:text-[64px] [&amp;_h1]:font-bold [&amp;_h1]:lg:leading-[64px] [&amp;_h2]:font-bold [&amp;_h3]:font-bold [&amp;_h4]:font-bold [&amp;_h2]:my-8 [&amp;_h2]:md:my-10 [&amp;_h2]:text-3xl [&amp;_h2]:lg:text-5xl [&amp;_h2]:leading-tight [&amp;_h3]:my-6 [&amp;_h3]:md:my-8 [&amp;_h3]:text-2xl [&amp;_h3]:lg:text-4xl [&amp;_h3]:leading-tight [&amp;_h4]:my-4 [&amp;_h4]:md:my-6 [&amp;_h4]:text-xl [&amp;_h4]:lg:text-3xl [&amp;_h4]:leading-tight [&amp;_p]:text-lg [&amp;_p]:my-8 [&amp;_p]:md:my-10 [&amp;_p&gt;strong]:font-bold [&amp;_figure&gt;img]:my-9 [&amp;_figure&gt;img]:w-full [&amp;_figure&gt;img]:rounded-xl [&amp;_blockquote]:mb-8 [&amp;_blockquote]:mt-16 [&amp;_blockquote]:md:mt-16 [&amp;_blockquote]:md:mb-10 [&amp;_blockquote]:text-cream-text [&amp;_blockquote]:text-[22px] [&amp;_blockquote]:leading-[33px] [&amp;_blockquote]:md:text-3xl [&amp;_blockquote]:lg:text-4xl [&amp;_blockquote]:lg:leading-[60px] [&amp;_blockquote]:md:leading-[46px] [&amp;_blockquote]:pt-8 [&amp;_blockquote]:md:pt-0 [&amp;_blockquote]:md:pl-24 [&amp;_blockquote]:relative [&amp;_blockquote]:after:content-[&quot;“&quot;] [&amp;_blockquote]:after:pointer-events-none [&amp;_blockquote]:after:absolute [&amp;_blockquote]:after:-left-4 [&amp;_blockquote]:after:-top-20 [&amp;_blockquote]:after:text-[300px] [&amp;_blockquote]:after:text-cream-text/10 [&amp;_blockquote]:after:leading-none [&amp;_small]:text-base [&amp;_p_a:hover]:underline [&amp;_p_a]:text-primary [&amp;_ul]:text-lg [&amp;_ul]:my-5 [&amp;_ul]:list-disc [&amp;_ul]:pl-12 [&amp;_ul&gt;li]:mb-4 [&amp;_ul&gt;li]:pl-2 [&amp;_ol]:text-lg [&amp;_ol]:my-5 [&amp;_ol]:list-decimal [&amp;_ol]:pl-12 [&amp;_ol&gt;li]:mb-4 [&amp;_ol&gt;li]:pl-2 [&amp;_p]:container-article [&amp;_figure]:container-article [&amp;_h1]:container-article [&amp;_h2]:container-article [&amp;_h3]:container-article [&amp;_h4]:container-article [&amp;_ul]:container-article [&amp;_ol]:container-article [&amp;_blockquote]:max-w-[1248px] leading-9" style="box-sizing: border-box; border: 0px solid; scrollbar-color: auto; scrollbar-width: auto; --tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; line-height: 2.25rem;">
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34 VC funds operating in Europe participated in the Anthemis Group’s study, which was conducted by Yann Ranchere, a partner in the Anthemis Group. More than half of them (52.9%) admitted that they still invest in startups, but they do it much more selectively. The remaining VC funds continue their investment policy on an unchanged level. The vast majority of respondents also admitted that the valuations of startups, in particular those at further stages of fundraising, fell significantly. This trend does not apply to investments in new companies. As many as 68% of VC funds said that the valuation of new startups is comparable to the previous year, and according to 14% that it has even increased.
“This shows that new ideas still have great opportunities to attract investors. There is nothing surprising in this because investments in companies at the initial stage of development usually have a long time horizon, which is not disturbed by the current perturbations in the economy. However, the idea itself is not enough at the moment. The key to the hearts and wallets of investors is a working prototype of your solution,” said Paulius Insoda, CEO at NFQ.
What is Minimum Viable Product?
Minimum Viable Product (MVP) is a working prototype of the final product, which despite the lack of many important features is ready to be offered on the market. As the CEO of NFQ argues, these types of solutions are now necessary to convince investors because they prefer startups that already have a working product as opposed to those with even the most brilliant idea that still needs to be implemented.
“We have also seen a great understanding of creating MVPs at the beginning of the market journey in the startups&#8217; approach for some time. It lets entrepreneurs cost-effectively test their idea on the market, without incurring huge expenses for the development of the final version of the product, which may not necessarily appeal to customers. By launching a product right away, even in a version with many limitations, they can collect valuable feedback and adjust their product to the needs and expectations of the target group,” commented Paulius Insoda.
MVP doesn’t include just the software engineers’ work
To obtain a high-quality MVP, not only software engineers but also UX and UI designers should be involved in the prototype process. This is absolutely crucial because if the first users are dissatisfied, they will certainly share their opinion with their friends, and winning them back for our solution will be a difficult task. The speed at which MVPs are created and developed is also of great importance. If a company spends too much time at this stage, the competition will notice and may start imitating their product, but in a better version, without the observed flaws.
“This is well illustrated by the example of the Minutiae app for documenting real-life situations. The app managed to attract about 25,000 users in the first 3 years of existence, of which about 40% used it every day. But then BeReal came out addressing the same problem but with one extra feature that allowed users to see photos of their friends. This feature turned out to be crucial and let the new application leap from an interesting, but small niche product, to an application that began to electrify investors,” said the CEO of NFQ.
As Paulius Insoda pointed out, paying a lot of attention to sales and marketing is also important. Startups often do not focus enough on these issues in the early stages, which leads to serious problems in the future. Finally, you should ensure excellent customer service right from the start. With so many options on the market, customers are willing to pay extra for the products of companies known for high-quality customer service, because for modern consumers not only the product matters but also the possibility of establishing a long-term relationship with a trustworthy brand.
&#8220;This is the path that some of our startups, which now have unicorn status, such as rental platform HomeToGo, or aspire to this name, such as logistics service Alaiko, have gone through,&#8221; commented Paulius Insoda.
Times are very demanding for startups
Creating a successful startup has never been an easy task, because according to <a href="https://www.failory.com/blog/startup-failure-rate">research</a>, 9 out of 10 new companies cannot break through on the market. In the coming months, achieving market success will be even more demanding, both in terms of convincing customers of your solution and obtaining financing for its development.
“According to the previously cited survey, VC funds mostly negatively assessed the financing situation of companies from the initial and seed stages that would like to move to the next rounds of raising capital. Only the best solutions that prove their potential thanks to MVP have a chance. That is why the MVP is currently the key to success in the startup market,” said Paulius Insoda.
Additional information about NFQ
NFQ is an international IT company that employs more than 800 people in all its branches worldwide. The company provides digital strategy and execution to entrepreneurs seeking scaling and competitive advantages enabled by software engineering and product development, business digitalization, business intelligence and data science. NFQ also provides UX, UI, CRO and consulting services, for travel, omnichannel retail, transport, logistics and sharing economy businesses across the globe. NFQ has successfully built high-competence software engineering teams to work on the core of KAYAK and drive technology for the world’s leading vacation rental marketplace HomeToGo. In the past NFQ has also built a leading flight search platform Swoodoo in Germany and DACH. The market at the time saw it as the best technological solution in the sector.
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Venture Capital (VC) funds – despite the gradually deteriorating economic situation in Europe – continue to actively invest in startups on our continent.

VC funds keep on investing in European startups, but much more selectively

We have been a Partner in Climate Action for five consecutive years and continue to be committed. To date, we have offset a total of 2,075 tons of CO2 and funded climate projects to reduce emissions wherever possible.
🌎 Since 2019, NFQ has actively participated in combating climate change, significantly reducing and offsetting our carbon emissions. By 2022, we had successfully offset 360 tons of CO2, and in 2023, we increased our contribution to offsetting 663 tons of CO2.
🌎 Our efforts extend beyond just carbon offsetting. We support a range of certified climate projects across Asia and these projects are certified by Gold Standard or the Verified Carbon Standard, ensuring they make a real impact.
Together, we&#8217;re steadily advancing towards a more sustainable future!
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-8999" src="https://api.nfq.com/assets/uploads/2024/05/Climate-Partner-2-300x300.jpeg" alt="" width="300" height="300" srcset="https://api.nfq.com/assets/uploads/2024/05/Climate-Partner-2-300x300.jpeg 300w, https://api.nfq.com/assets/uploads/2024/05/Climate-Partner-2-150x150.jpeg 150w, https://api.nfq.com/assets/uploads/2024/05/Climate-Partner-2-768x768.jpeg 768w, https://api.nfq.com/assets/uploads/2024/05/Climate-Partner-2.jpeg 800w" sizes="(max-width: 300px) 100vw, 300px" />
#NFQ #future #sustainability #ClimatePartner #NFQvibe

We have been a Partner in Climate Action for five consecutive years and continue to be committed. To date, we have offset a total of 2,075 tons of CO2 and funded climate projects to reduce emissions wherever possible.

NFQ's Five-Year Commitment to Climate Action: 2,075 Tons of CO2 Offset and Counting

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Upon acquiring Dlivr.io, NFQ – which has been in business for the past 20 years – now has over 900 employees across 10 divisions located on 3 continents.
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“Our reasons for choosing Egypt for expansion include the country’s experienced IT professionals, excellent English language skills, and a similar work culture. This step will help us to increase the number of IT specialists working for NFQ, and to gain access to the highly qualified African IT talent pool,” said Lars Jankowfsky, co-founder of NFQ Group.
Dlivr.io is a team of almost 30 highly qualified IT professionals working on advanced digital projects for big e-commerce and digital service providers from European and Arab countries.
“By securing access to the highly qualified African IT talent pool, NFQ will be able to strengthen its teams in Europe and Asia, which, in turn, will enable the company to further expand its client base and open the door to new markets,” Paulius Insoda, CEO of NFQ Technologies, said.
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NFQ Group, which encompasses the software development company NFQ Technologies that operates in Lithuania and Poland, continues to grow internationally. The Group already has offices in Lithuania, Poland, Germany, Vietnam, Thailand, and Singapore, and has recently become the majority shareholder of Cairo-based Dlivr.io.

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