The UK fintech’s European expansion will be led by Céline Singleton, who described Dublin as ‘a great operating hub for tech companies’.
The UK-headquartered fintech Paysend announced today (28 April) that it has opened an office in Dublin to enable its expansion into new EU markets.
A team of up to 30 employees will be hired to staff the Dublin office. Currently, there are openings for an enterprise risk specialist, a chief risk officer and head of security.
The card-to-card payment service provider recently received an electronic money institution licence (EMI) from the Central Bank of Ireland, authorising the company to operate and disburse electronic money.
The Dublin office is one of four Paysend hubs. The others are located in Miami, Edinburgh and London, which is the company’s global headquarters.
Paysend was founded in 2017 and now operates in 170 countries and has more than 7m customers.
The company’s European CEO Céline Singleton is leading the recruitment of staff for the Dublin office.
“Dublin has become a great operating hub for tech companies, with a skilled workforce and a thriving business community,” Singleton said. “We have an excellent opportunity here to attract top talent to help drive our growth into more locations in Europe.”
Before joining Paysend, Singleton was CEO of fintech Vivid and was head of payments at Ulster Bank for nearly five years.
Ronald Millar, group CEO and co-founder of Paysend, described Singleton as “well placed to take our ambitions forward as she builds the team and drives the growth of Paysend Europe”.
Millar described the opening of the Dublin office as “a key strategic move”.
“The opportunity we now have, with the support of the Irish Industrial Development Agency (IDA) and the European EMI licence that we have been granted, to expand further into Europe is exciting,” Millar said.
Minister of State at the Department of Finance Dr Jennifer Carroll MacNeill, TD, expressed delight at Paysend’s decision to set up a base in Ireland.
“The expansion by Paysend is a valuable endorsement of the future growth potential for firms in Ireland based on sound regulation and the availability of talented people here,” MacNeill said.
MacNeill leads the Government’s Ireland for Finance strategy. The action plan update for 2023 expresses “a whole-of-government commitment in collaboration with industry stakeholders to further develop the international financial services sector in Ireland”.
According to the action plan, 56,000 people were directly employed in the international financial services sector in Ireland at the end of 2022.
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