QSecurities

What QSecurities does

Q Securities S.A. (trading as QSecurities) is an independent MiFID investment firm and brokerage house founded in 2012 in Poland, providing decentralised depositary services for alternative investment funds (AIFs) across three EU jurisdictions: Poland, Luxembourg, and Malta. Its core offering is AIFMD-compliant depositary services — cash flow monitoring, asset safekeeping (custody), record keeping and non-custody asset verification, and oversight functions — for diverse fund structures including private equity, real estate, infrastructure, debt, hedge funds, securitisation, EuVECA, ELTIF, and crypto/digital-asset funds. The company positions itself as an independent, non-competitive partner focused solely on the depositary side of the fund lifecycle, making it attractive to AIFMs, central administrators, and law firms reluctant to work with rival one-stop-shops. As of 31 December 2022, it reported €17 billion in assets under custody and 225 alternative investment fund clients.

The firm's principal structural differentiator is regulatory: it is the first investment firm authorised by Luxembourg's CSSF to offer depositary services under an investment firm license, giving it a broader service scope than a traditional Professional of the Financial Sector (PSF) licence and enabling it to service open-ended and closed-ended structures without the procedural burden of bank depositaries. It holds regulatory approvals across Luxembourg (CSSF), Malta (MFSA), and Poland (KNF). Beyond depositary services, the Polish operation offers brokerage, capital raising (equity and bond issuances, IPO/SPO support on the Warsaw Stock Exchange), shareholder registry maintenance, authorized advisory for the Catalyst and NewConnect markets, issuing/emission agent services, and Family Office services under the Q Family Office sub-brand. The company has announced a dedicated crypto custody and trading platform for H1 2026.

The business model is primarily recurring revenue based on long-term subscription agreements for depositary and registry services, complemented by transaction-fee streams from brokerage and capital raising and professional-services fees from advisory and family office work. Go-to-market is relationship-driven enterprise/field sales through owned offices in Warsaw (HQ), Luxembourg, and Gzira (Malta), supplemented by a referral network of law firms, administrators and auditors, and a Polish investment-firm agent network. The company targets small- to mid-sized alternative funds (e.g., EUR 20–100 million range in Malta) and leverages synergies from managing Polish AIFs for cost-efficient pricing. It is privately held, founded by investors and industry experts with no disclosed external funding rounds, and employs roughly 70–80+ people across Poland and Luxembourg.

Name

QSecurities

Legal name

Q Securities S.A.

Website

https://qsecurities.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

QSecurities is an independent MiFID investment firm providing AIFMD-compliant depositary services for alternative investment funds — private equity, real estate, debt, hedge, and crypto — across Poland, Luxembourg, and Malta, alongside brokerage, capital raising, and family office services.

Ownership category

akta.pro rank

Product category

Alternative Fund Depositary Services

NAICS

Other Nondepository Credit Intermediation (52229)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Asset-Backed Securities (6189)

akta.pro primary industry

Fund Depositary (UCITS/AIFMD & Trustee Oversight) (FSAAAOAC)

akta.pro secondary industry

Securitization Administration & Deal Services (Trustee, Custodian, Paying Agent) (FSALAFAK)

Keywords

• Alternative fund depositary
• Depositary services
• Asset custody services
• Brokerage capital markets
• Fund regulatory compliance

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Depositary Services: Core revenue stream from providing depositary services to alternative investment funds across Luxembourg, Malta, and Poland. Services include custody of financial instruments, cash flow monitoring, asset safekeeping, and oversight functions. Pricing based on long-term subscription agreements.
2. Brokerage Services: Brokerage activities in Poland including equity and debt financing, securities safekeeping, and brokerage transaction services. Also includes accepting and transmitting orders, executing orders, and keeping/-registering financial instruments.
3. Capital Raising Services: Organizing capital raising through public and private share and bond issuances, IPO support, and facilitating transactions on Warsaw Stock Exchange.
4. Shareholder Registry Services: Maintaining shareholder registries for S.A., S.K.A., and P.S.A. companies. Electronic registry services supporting dematerialization processes.
5. Authorized Advisor Services: Authorized advisor services for issuers on Catalyst (bond market) and NewConnect (equity market). Advisory on corporate governance and regulatory compliance.
6. Family Office Services: Comprehensive Family Office services including succession planning, wealth management, tax advisory, and compliance services for high-net-worth families.
7. Issuing Agent Services: Verification services for securities issuance compliance, KDPW registration support, and payment agency services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

QSecurities is an independent MiFID investment firm providing decentralised depositary services for alternative investment funds (private equity, real estate, infrastructure, debt, hedge funds, securitisation, EuVECA, ELTIF, crypto) across Luxembourg, Malta, and Poland, including AIFMD-compliant cash flow monitoring, asset safekeeping/custody, record keeping and oversight. Its offering is rounded out by brokerage, equity and debt capital markets services, shareholder register management, authorised advisor and emission agent services, and family office services through the Q Family Office brand.

Product overview

QSecurities is an independent MiFID investment firm and brokerage house offering a comprehensive suite of financial services across three EU jurisdictions (Poland, Luxembourg, and Malta). The core offering consists of depositary services for alternative investment funds (AIFs) as the primary business, complemented by brokerage services including capital raising, share and bond issuance, shareholder register management, authorized advisory for alternative markets, emission agent services, and Family Office services. The company also announced a crypto custody and trading platform for H1 2026. The portfolio includes services for fund types such as private equity, real estate, infrastructure, debt, hedge funds, securitisation, EuVECA, ELTIF, and crypto assets, delivered through its investment firm license which provides broader service scope than traditional PSF depositaries.

Differentiator

Problem solved

Functional benefit

Brands

• Q Family Office: Family office services offering full support for creation and management of family foundations, including succession planning, wealth management, compliance, and tax advisory services.

Products and services

• Depositary Services Decentralised AIFMD-compliant depositary services for alternative investment funds across Europe, covering cash flow monitoring, asset safekeeping (custody), record keeping and non-custody asset verification, and oversight (valuation, compliance with investment restrictions and leverage limits). Sold to AIFMs, fund managers, central administrators and alternative funds in Luxembourg, Malta and Poland.
• Brokerage Services Full-range brokerage services including equity and debt financing, securities safekeeping, brokerage transactions, accepting and transmitting orders, executing orders, and keeping/registering financial instruments; bundled with capital raising (share/bond issuances, IPOs, SPOs, tender offers), ECM/DCM advisory, emission agent, payment agent, KDPW registration intermediary and electronic bond evidence services. Sold to Polish issuers, listed companies and capital markets participants.
• Shareholder Register Services Electronic shareholder register (Rejestr Akcjonariuszy) services for Polish S.A., S.K.A. and P.S.A. companies, including dematerialisation support, register opening and ongoing maintenance, dividend payments, and certificate issuance. Sold to Polish joint-stock and limited joint-stock companies needing statutory share register administration.
• Authorised Advisor (Autoryzowany Doradca) Services Certified advisory services for issuers on the Catalyst bond market and NewConnect stock market, including due diligence, information document preparation, ongoing advisory and regulatory compliance support. Sold to Polish issuers seeking listing or continued presence on WSE/Catalyst/NewConnect.
• Family Office Services (Q Family Office) Comprehensive services for creating and managing Family Foundations, including succession planning, wealth management, business and financial planning, asset register maintenance, compliance, tax planning, real estate services and philanthropy management. Sold to high-net-worth families and family offices.

Quantifiable outcome

• Assets under custody: €17 billion
• +4 more outcomes

Named customers3 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Anna TyborminorGTM or Marketing Partner · 27 January 2026#QxTybor partnership with elite Polish ski mountaineer and international high-altitude athlete Anna Tybor. Partnership reflects shared philosophy of determination, strategy, resilience, and disciplined mindset for long-term performance. Q Securities recently reached milestone of servicing 100 funds in Luxembourg.

Scale indicators16 records

Recent moves10 records

Expansion highlights6 records

Emerging players

• Langham Hall: Langham Hall is an independent fund services firm providing depositary, fund accounting, and AIFM services primarily to private equity and real estate fund managers in Luxembourg and other European centres — a niche competitor targeting similar alternative fund clients.
• European Fund Administration (EFA): EFA is a mid-sized European fund administration and depositary group with a presence in Luxembourg, Malta, and other EU centres — overlapping with QSecurities' jurisdictions and alternative fund client base.

Direct peers

• TMF Group: TMF Group is a global provider of compliance and administrative services including depositary and fund services across 80+ jurisdictions, directly competing for alternative fund depositary clients in Europe.
• IQ-EQ: IQ-EQ provides depositary, custody, and fund administration services focused on private equity, real estate, and alternative asset managers, with a strong Luxembourg presence — a direct competitor for alternative fund depositary mandates.
• Apex Group: Apex Group is one of the world's largest independent fund services platforms offering depositary, custody, fund administration, and AIFM services across Europe including Luxembourg and Malta — directly competing with QSecurities for the same AIF depositary mandates.
• Brown Brothers Harriman: BBH is a privately held US-based bank providing investment servicing including depositary bank and custody services to alternative asset managers in Europe — competing for the same AIF and private equity fund depositary mandates.

Broad incumbents

• CACEIS: CACEIS is a major bank-affiliated asset servicing platform (Crédit Agricole / Santander) offering depositary, custody, and fund administration across European fund centres — a broad incumbent competing for institutional AIF depositary mandates.
• Universal Investment: Universal Investment is a major German fund services platform offering depositary, KAGB-compliant services, and administration across Europe — a broader incumbent competing for European AIF depositary relationships.
• Société Générale Securities Services: SGSS provides global custody, depositary, and fund administration services as part of Société Générale, including Luxembourg AIF depositary offerings — a broad incumbent with similar European AIF depositary clients.
• BNP Paribas Securities Services: BNP Paribas Securities Services is a tier-one global custodian and depositary bank serving alternative fund managers in Luxembourg, Ireland, and across Europe — competing for institutional-scale AIF depositary mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/qsecurities-global

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QSecurities