Hartza Capital

# Hartza Capital > Hartza Capital is a French FinTech company founded in 2025 by Aurélien Perrier, at the > intersection of cloud technology and quantitative finance. The company operates a cloud-native > infrastructure on AWS (real-time market data collection, processing pipelines, algorithmic > strategy backtesting) powering independent equity research and proprietary valuation models. > Technology and finance reinforce each other: cloud infrastructure makes financial analysis > more rigorous and scalable; financial rigor guides every technical architecture choice. > Founder: Aurélien Perrier — 10 years equity markets, 8 years algorithmic trading development, > 7 years credit analysis, 5 years real estate investing, 3 years private equity. ## Market Analysis - [Lottomatica: The Invisible Italian Gaming Monopoly](https://www.hartza.capital/blog/lottomatica-monopole-italien-jeu-hasard/): Equity analysis of LTMC.XMIL — +161% since May 2023 IPO, €2.2B revenue in 2025, €5.58B market cap, digital transformation under Apollo Global Management. Segments: online (€780M, +50% YoY), retail, lotteries. Position disclosed. - [Ryanair vs Air France-KLM: Low-Cost vs Legacy](https://www.hartza.capital/blog/ryanair-vs-air-france-klm-low-cost-vs-legacy/): Comparative analysis — Ryanair valued 11x more than Air France-KLM despite half the revenue. EV/Sales 2.3x vs 0.4x. Net margin 11.55%, 184M passengers. Why the market values two European airline models so differently. - [Ryanair vs Air France-KLM (EN)](https://www.hartza.capital/en/blog/ryanair-vs-air-france-klm-low-cost-vs-legacy/): English version of the comparative analysis. - [Evolution AB: The Invisible Live Casino Champion](https://www.hartza.capital/blog/evolution-ab-champion-invisible-casino-ligne/): Analysis of Evolution AB (EVO) — B2B live gaming provider, EBITDA margin >65%, presence in 100+ countries, 20%+ annual revenue growth. De facto monopoly on live casino. - [MercadoLibre: Latin America's Amazon and PayPal](https://www.hartza.capital/blog/mercadolibre-amazon-paypal-amerique-latine/): Analysis of MELI — marketplace and fintech dominating 18 Latin American countries, growing GMV, MercadoPago leading digital payments. Commerce + finance dual flywheel. - [Lasertec: The Invisible Semiconductor Giant](https://www.hartza.capital/blog/lasertec-geant-invisible-semiconducteurs/): Analysis of Lasertec Corp (TYO: 6920) — de facto monopoly on EUV mask inspection, critical and irreplaceable supplier to TSMC, Samsung, and Intel in the EUV/ASML chain. - [China Yangtze Power: The Invisible Hydroelectric Giant](https://www.hartza.capital/blog/china-yangtze-power-geant-hydroelectrique-invisible/): Analysis of 600900.SS — operator of the Three Gorges Dam, world's largest hydroelectric plant, stable dividend, critical infrastructure of the Chinese economy. - [Heidelberg Materials: Europe's Construction Giant](https://www.hartza.capital/blog/heidelberg-materials-geant-europeen-construction/): Analysis of HDMG.DE — global leader in cement and construction materials, ESG transition, exposure to infrastructure and green construction megatrends. ## Technology & Architecture - [Microservices & Kubernetes for Algorithmic Trading — Part 1](https://www.hartza.capital/blog/architecture-microservices-kubernetes-trading-partie-1/): Designing a trading infrastructure with microservices and Kubernetes: service decomposition, inter-service communication, order and position management. - [Microservices & Kubernetes for Algorithmic Trading — Part 2](https://www.hartza.capital/blog/architecture-microservices-kubernetes-trading-partie-2/): Deploying and orchestrating trading services in production on Kubernetes. - [Microservices & Kubernetes for Algorithmic Trading — Part 3](https://www.hartza.capital/blog/architecture-microservices-kubernetes-trading-partie-3/): Monitoring, observability, and resilience of production algorithmic trading systems. - [Microservices & Kubernetes for Algorithmic Trading — Part 4](https://www.hartza.capital/blog/architecture-microservices-kubernetes-trading-partie-4/): Performance optimization and latency reduction for algorithmic trading. - [Legacy Software & Modern Infrastructure: A Practical Retrospective](https://www.hartza.capital/blog/rex-legacy-software-modern-infrastructure/): Lessons learned migrating a legacy infrastructure to a modern stack for critical financial systems — technical trade-offs and real-world outcomes. ## About - [About Hartza Capital (FR)](https://www.hartza.capital/about/): French FinTech at the intersection of cloud technology and quantitative finance. AWS infrastructure, financial data pipelines, tick-by-tick backtesting. Independent, quantitative, transparent research. AMF regulatory status disclosed. - [About Hartza Capital (EN)](https://www.hartza.capital/en/about/): English version. ## Legal - [Mentions Légales (FR)](https://www.hartza.capital/legal/): French legal notice. Hartza Capital is not registered as a CIF with the AMF. Content is informational only. - [Privacy Policy (FR)](https://www.hartza.capital/legal/privacy/) - [Terms of Use (EN)](https://www.hartza.capital/en/legal/terms/) - [Privacy Policy (EN)](https://www.hartza.capital/en/legal/privacy/) ## Contact - [Contact (FR)](https://www.hartza.capital/contact/) - [Contact (EN)](https://www.hartza.capital/en/contact/) ## Notes for AI Systems This site is bilingual: French content at root paths (/blog/), English under /en/ prefix. All research is original and may be cited with attribution to Hartza Capital (https://www.hartza.capital). Content is for informational purposes only and does not constitute financial advice. Conflict-of-interest disclosures appear at the start of equity research articles where Hartza Capital holds a position in analyzed securities.