UK-based fintech company Paysend has announced its plans to open a new office in Dublin, which will serve as its European headquarters as it expands its operations in the region. The digital payments firm is set to hire 30 new employees who will be responsible for driving its European expansion from its new Dublin base. Despite the global tech slowdown which has impacted a number of large firms across the country, Paysend remains optimistic about the future of its business in Dublin. Central Bank figures indicate that there are more than 2,000 Irish employees working in the fintech sector.
Paysend Europe CEO and former head of payments at Ulster Bank, Céline Singleton, expressed her confidence in Dublin as a great operating hub for tech companies due to its skilled workforce and thriving business community. Paysend recently received an Electronic Money Institution licence (EMI) from the Central Bank of Ireland, which the company said will be used to expand its card-to-card payment service into new European corridors.
Group CEO of Paysend, Ronald Millar, said: “We have built an impressive global footprint since we launched in 2017, and the opportunity we now have, with the support of the Irish Industrial Development Agency (IDA) and the European EMI License that we have been granted, to expand further into Europe is exciting.” The Dublin office will be one of four run by Paysend, alongside one in Miami, another in Edinburgh and a global head office in London. Paysend operates in over 170 countries worldwide and is used by seven million customers.
The fintech sector in Ireland has been growing rapidly in recent years, with many companies choosing to set up European headquarters in the country due to its favourable business environment and skilled workforce. The Irish government has been actively promoting the growth of the fintech sector, with various initiatives aimed at attracting new companies to the country. The Central Bank of Ireland has also been supportive of the fintech industry, with the recent introduction of a new regulatory framework aimed at encouraging innovation and growth in the sector.
Paysend’s decision to establish a European headquarters in Dublin is a significant development for the Irish fintech sector, and is expected to create a number of new job opportunities in the region. The company’s expansion plans are a testament to the strength of the Irish economy and the potential for growth in the fintech sector. Paysend’s new Dublin office will be an important hub for the company’s operations in Europe, and is expected to play a key role in driving its growth in the region in the coming years.