Irish technology firm Fenergo is to create 200 jobs

Fintech company to grow workforce to 500 as part of expansion plans

Minister for Jobs Mary Mitchell O’Connor said the company had become ‘an indigenous Irish success story’.

Minister for Jobs Mary Mitchell O’Connor said the company had become ‘an indigenous Irish success story’.

 

Irish technology firm Fenergo is to create 200 jobs over the next 12-18 months as part of expansion plans.

The company, which provides software solutions for investment, corporate and private banks will grow its employee base to 500.

The new positions are across product management, software engineering, implementation, consulting and marketing. Recruitment will begin immediately. Speaking at the jobs announcement event held in its global headquarters in Dublin’s Docklands, Fenergo chief executive Marc Murphy said he was anticipating “continued significant growth” across all regions the company serves.

“The demand for Fenergo’s solutions is global and immediate, driven by regulatory change and banks’ desires to be able to comply fully with new and enhanced regulations, whilst achieving operational cost efficiencies,” he said.

“We anticipate continued significant growth across all of the regions we serve – Americas, Europe, UK, APAC and the Middle East – over the next 36 months.

“To help us meet this global demand, we are looking for the smartest, most dedicated and talented people to join the team to help us continue to improve this world-class business that we have built.

“By joining the Fenergo team, this new talent will be part of a journey to build a global Irish technology company that is at the forefront of developments in robotics and artificial intelligence for financial technology.”

Mr Murphy said the company had ambitions to float on the stock exchange by 2020. “Fenergo is well on its way to achieve this given its considerable growth over the last five years, averaging over 100 per cent year-on-year,” he said.

“During this time, Fenergo has signed significant new named deals with world-leading financial institutions, including HSBC, UBS, BNY Mellon, Scotiabank, Bank of Montreal, BBVA, Westpac, RBS, RBC, SunTrust and Nikko Americas.”

He added that the company is expecting “another stellar sales performance” this year.

Minister for Jobs Mary Mitchell O’Connor said the company had become “an indigenous Irish success story, achieving phenomenal global sales success and putting Irish fintech and regtech firmly on the global map”.

Global reach

The company has opened six new offices across the world including New York, Boston, Sydney, Singapore, Japan and Abu Dhabi and relocated its Dublin, London and Boston headquarters to cater for its growing number of personnel.

Most recently, the company took up residence in a 21,000sq feet building in Dublin’s Point Village.

Fenergo’s growth comes on the back of significant inward investment into the company. In August 2015, Insight Venture Partners and Aquiline Capital Partners together invested €85 million in Fenergo. The company is using this investment to expand its global footprint by opening new offices and increasing employee numbers across all regions.

Enterprise Ireland chief executive Julie Sinnamon said the company was “a great example of an Irish fintech company with global ambition”.