Belfast-based FinTru expands in Portugal with new client delivery centre

17 Oct 2022

FinTru founder Darragh McCarthy. Image: FinTru

The new office will see the creation of 500 jobs at FinTru over the next five years, helping the regtech company offer its services to global clients.

Northern Irish regtech company FinTru has expanded into Portugal with a new global client delivery centre based in the coastal city of Porto.

Founded in 2013 by Cork native Darragh McCarthy, FinTru helps global investment banks and other financial institutions with regulatory resourcing services. It specialises in the areas of know your customer, compliance, legal risk and controls, and operations.

The new office location in Porto will help FinTru work directly with major global investment banks. The move will create up to 500 new jobs in Portugal over the next five years.

McCarthy, who founded FinTru in response to increasing global demand for resources to navigate an increasingly complex regulatory landscape, said the latest expansion is “a very important step in our company journey”.

“Having reviewed a number of European locations, we were under no illusions that Porto represented the best choice for FinTru as our next client delivery base.”

FinTru chief of staff Katrien Roppe added that “the highly educated talent, the thriving business community and top tier universities on offer” confirmed the Belfast-headquartered company’s decision.

“The client projects based at FinTru Porto will be integrated into the FinTru delivery framework, guaranteeing the high level of quality standards that we offer to our global clients,” she said.

Regarded by the Financial Times as one of the fastest-growing companies in Europe, FinTru now employs more than 1,100 people worldwide. It has offices in Ireland, Northern Ireland, England, the Netherlands and the US.

In July, the company announced plans to establish a new European centre in Letterkenny that will create 300 jobs over the next three years. It marked FinTru’s first big move into the north-west region of the island following the establishment of its Derry office in 2018.

FinTru is currently redeveloping a 3,000 sq m office in Porto. This will serve as a fully flexible and hybrid working space for employees to collaborate with colleagues both locally and globally.

“Our mission is to empower our people to drive industry-disrupting and innovative solutions, and we cannot wait to have Porto as part of that goal,” said FinTru’s Porto site lead, Telmo Fernandes.

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Vish Gain is a journalist with Silicon Republic