Web Summit backtracks on MoneyConf as it moves from Dublin

Founder Paddy Cosgrave last year said event would be in Dublin for ‘foreseeable future’

Despite claims by Web Summit co-founder and chief executive Paddy Cosgrave that MoneyConf would be based in Dublin for a number of years, the event is to relocate to Lisbon where it will be reintegrated back into the flagship tech conference.

The fintech-focused conference relocated to Dublin from Madrid last year, drawing some 5,137 attendees from 84 countries.

The event, which was initially part of Web Summit before being spun out by the conference’s organisers, was held in Belfast initially before moving to Madrid and then Dublin.

“We’ve built the best tech conference in the world in Lisbon, and now have the certainty that comes with a 10-year deal and an incredible venue. We feel strongly that an expanded three-day MoneyConf, to be held November 5th to the 7th, will be greatly enhanced alongside Web Summit, which already draws most of the fintech community each year, as well as more than 2,000 media from across the world,” a spokeswoman for the company said.

However, speaking at MoneyConf on its first day in Dublin in June, Mr Cosgrave said the event would be held in the Irish capital “for the foreseeable future”. He also spoke of his hope of holding other conferences in Dublin.

Web Summit departed Dublin under a cloud in 2016 when the flagship conference moved to Lisbon.

The Web Summit agreed a deal to remain in Lisbon until at least 2028 under a €110 million agreement with the Portuguese government last October.

MoneyConf is to expand from two days to three days as part of the move and the fintech-focused conference will also feature at Web Summit’s Collision event in Toronto and at Rise in Hong Kong.

The event organisers said chief executives s of fintech unicorns OakNorth, Yapstone, Fair and Monzo would be speaking at MoneyConf in Lisbon as well as the chief information officers of many of the world’s leading banks including Citi and ING.

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