Irish fintech start-up CreditLogic is poised for growth as it plans to add up to 60 jobs and significantly increase revenue in the next two years.
That would double the company’s current workforce; it employs about 30 senior software engineers and data scientists in its Dublin headquarters. The new jobs will be across the business.
The company has annual revenue of about €5 million. “Our international growth will see a five-time growth in our revenue in the next two years, “ co-founder Eddie Dillon said.
CreditLogic was founded by Mr Dillon, KBC Bank Ireland’s former director of innovation, and its head of development, Gavin Bennett. It has developed technology that automates the mortgage application process, which it claims will reduce the time and cost of processing new mortgages by more than half. Among its customers are AIB, ICS Dilosk and BCMGlobal, which is part of Link Group. Last year, the company signed a deal with Permanent TSB to provide a new digital application platform for mortgage applicants. Its technology has also been used in the Government’s recently launched First Home Scheme that helps people to buy new homes through shared ownership.
CreditLogic also recently secured ISO27001, a global standard for information security, which will also help underpin its international growth plans.
The business has appointed former managing director of DCC Technology Niall Ennis as chief financial officer and board director. His previous roles also include managing director of Valeo Foods and KPMG Corporate Finance.
“Niall has extensive board, corporate finance and technology leadership experience,” said Mr Dillon. “This is a hugely exciting period for the business and Niall’s appointment bolsters our executive team and ideally positions us to capitalise on the global market opportunity.”
