Cashing In: Ireland’s FinTech Leaders

Powered by Cpl Recruitment: We’re all about FinTech in Ireland these days.

New FinTech startups are emerging monthly, with the encouragement of organizations like the Citi Accelerator Hub for FinTech startups, Accenture’s FinTech Acceleration Lab, Mastercard’s Start Path, and the NDRC’s FinTech incubator, plus Ulster Bank’s involvement with the development of the vaults under Dogpatch Labs at Dublin’s CHQ Building. Elsewhere, Web Summit have expanded into FinTech-specific conferences, staging MoneyConf in Belfast this year, and international success stories like CurrencyFair and Fenergo are announcing major funding rounds.

In addition, this month sees the launch of The FinTech and Payments Association of Ireland (FPAI), a new trade association for all stakeholders involved in financial technology and payments in Ireland. The FPAI’s stated aim is to position itself as a catalyst for creating the most compelling environment in which both indigenous and multinational FinTech and Payments companies can excel; their board includes Chairman Colm Lyon, formerly of Realex Payments and now Pay with Fire, Anna Scally of KPMG, Morgan Lynch of Senddr and Colm Rafferty of Maples and Calder.

Read on, for our primer to one of the most exciting fields in Ireland’s tech industry:


Founded in Dublin in 2006 by CEO (and winner of the 2014 Ernst & Young Entrepreneur Of The Year award) Mark Roden and David Shackleton, Ding* offer a mobile alternative to money remittance channels, accessible via the ding* app and 500,000 retailers worldwide. They are now connected to 300 mobile operators around the world, with a global reach of three billion phones. @dingHQ

Founded in Dublin in 2009 (with offices in Sydney and Boston) by Ruth Fletcher, Pail Kerry, Marc Murphy, Stan De Schepper and John Purdy, Fenergo provide client Lifecycle Management software solutions for investment banks, capital market firms and private banks. In July they announced $75 million in investment from New York-based private equity firm Insight Venture Partners. @Fenergo

Founded by Colm Lyon in 2000, with offices in Dublin and London, Realex provide gateway services and process transactions in excess of €28 billion for over 12,000 clients including Virgin Atlantic Airways, Vodafone and Aer Lingus. The business was acquired in March 2015 for €115m by Global Payments. @RealexPayments

Founded in the US in 2011 by Limerick brothers Patrick and John Collison, secure payments platform Stripe is one of the biggest news stories to emerge from Irish tech in recent times. To date it has raised around $300m from the likes of American Express, Visa, Sequoia Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Elon Musk and Peter Thiel, reaching a valuation of $5bn. Never far from the headlines, they recently entered a partnership with Twitter to let shoppers purchase products directly with a tweet. They’re currently recruiting staff for a Dublin office. @stripe


Acquirer Systems
Acquirer Systems provide test software for real-time payments systems, with clients including SwissCard, Standard Bank, MBNA and First Data. With branches in the US and across Europe, the Middle East, Africa and Asia, they were founded in Dublin by Robin Hilliard and Aidan Corcoran in 1997. @Acquirer

Barracuda FX
Founded by Kieran Fitzpatrick & Maurice Curran in Dublin in 2009, Barracuda FX specialise in the development of FX trading and risk management software for the banking industry worldwide. Headquartered in the International Financial Services Centre (IFSC), last month they announced plans for a major new R&D facility in (FYR) Macedonia. @barracudafx

Brite:Bill offer a platform for presenting and managing billing communications. Named a ‘Cool Vendor’ by Gartner Inc and ‘Emerging Company of the Year’ by ISA, Brite:Bill was founded by Alan Coleman in 2010 and currently has offices in London, Madrid, Shanghai, Toronto and San Francisco along with its HQ in Dublin. Earlier this year they landed a major contract with US telecoms giant Sprint. @britebill

Claim Vantage Founded by Leo Corcoran in 2008, Claim Vantage provide claims technology addressing complete claim-cycle functions and improving claim outcomes. Their head office is in Dublin, with an additional office in Portland, Maine. @ClaimVantage

CurrencyFair In the headlines this year for their €10 million Series A funding round (led by Octopus Investments and Frontline Ventures), CurrencyFair offer a global marketplace for the exchange of currencies. The company was founded in 2009 by Jonathan Potter and Brett Meyers, and has offices in Ireland, the UK and Australia. @CurrencyFair

FTI Treasury Specialist treasury company FTI provide management tools and systems to international corporates, banks and public sector treasuries. Founded in 1988 by Emmet Scully and Joseph Gavin. FTI are based in Dublin’s IFSC, with subsidiaries in Sofia and South Africa. @FTITreasury

Pay With Fire (Fire Financial Services) The latest venture from Realex founder and CEO Colm Lyon, Fire Financial Services (branded as Pay With Fire) is a regulated Payments Institution offering consumer and business payment accounts. @PaywithFire

With offices in Ireland, France, Italy, Spain, the US, Canada, Hong Kong, Australia and New Zealand, TransferMate provide international payments, focusing mainly on the B2B market. Launched in 2010 and led by Managing Director Barry Dowling, this Kilkenny-based company has done over $5 billion in foreign currency transfers. @TransferMate

One of the big Irish success stories of recent years, having successfully expanded into the US market, Trustev was founded in Cork in 2012 by Chris Kennedy and Pat Phelan. It updates the process of online fraud prevention with real-time identity verification drawn from dynamic data sources. @trustev


With a head office in Dublin, as well as offices in Florida and Santiago, Antuar create transaction processing systems, notably InBranch Transact, a branch teller solution. The company was founded in 2011 by Michael Furlong and Frainc Reid; in January, they were one of six early-stage startups to take part in the inaugural FinTech Innovation Lab. @Antuar

Another participant in the FinTech Innovation Lab, B-Secur were founded in 1996 by Peter William Spratt and Richard Anderson. This Belfast-based security technology company utilizes cutting-edge biometrics to authenticate users for mobile banking, as well as automobile and building access. @bsecurtech

Founded earlier this year in Dublin by Dave Anderson, Charles Dowd and Clive Foley, Bynk are set to release a ‘money messenger’, which lets phone users chat one-on-one and in groups, then send money instantly from within the chat programme, secured via biometric Touch ID security and Facebook log-ins. UPDATED: Bynk are now Plynk!

Chasing Returns
Chasing Returns provides risk management to retail traders, offering a platform where traders can manage their losses more effectively. Founded in Dublin last year by Ann Hunt, the company was incubated within the NDRC’s Launchpad programme. @chasing_returns

Founded in 2014 by Alan Mullen and Peter G. Ledbetter and headquartered at NovaUCD (the centre for new ventures and entrepreneurs at University College Dublin), Corlytics provide risk-focused financial compliance intelligence, utilizing data and real-time technology. To date they have secured €1 million in investment, and operate from Dublin, London, Boston and New York. @corlytics

Fund it
This popular Irish crowdfunding website for creative projects was founded in 2011 by Martin McNicholl in partnership with arts consultants Business to Arts, the non-profit who manage the site. It maintains a 70% success rate, with 55,000 individuals pledging over €3 million to make 760 plus projects a reality over the past four years. @fund_it

Founded in Dublin and supported by Enterprise Ireland, FundCalcs offer a cloud-based application for calculating and reporting performance fee figures. The company was founded in 2012 by Alan Quigley and Michael Thomas Brennan. @FundCalcsLtd

Fund Recs
Founded by Alan Meaney and Padraig O’Scanaill in 2013, Fund Recs develops cloud-based reconciliation software for use by the funds industry. With offices in Dublin (at DIT’s Hothouse Innovation Centre) and Waterford, investors include Enterprise Ireland and Telefonica. @FundRecs

GRID Finance
GRID Finance build financial products for banking clients in Ireland and worldwide; their P2P financing platform the GRID has proved successful with a number of Irish businesses, amongst them KC Peaches and The Art of Coffee. The company was founded by Derek F. Butler and Sean O’Riordan in 2013. @GRIDFinance

Based in Galway and founded in 2014 by Alan Coyne, iCrowdfund was launched by Western Webs, joining a platform that also includes and Utilising Stripe, the site enables crowdfunding efforts by encouraging small amounts from large numbers of funders, with a primary focus upon socially aware projects. @iCrowdfund_ie

Offering an online marketplace for invoice trading, InvoiceFair was founded in Dublin in 2014 by Helen Cahill and Philip Hickey. @invoicefair

Based at Dublin’s Digital Hub and founded in 2014 by Eoin O Ceallachain, Cian O Cuinneagain and Tim Byrne, Juggle enables users to manage their personal finances using personal data and analytics to create an individual ‘action plan’. @Juggle247
This Alternative Finance company was founded in 2010 by Peter O’Mahony and Conor McAleese: Ireland’s original P2P lending site offers Irish SMEs (they have over 100 on their books) a route to finance via online P2P crowdfunding. To date, they’ve helped SMEs to raise over €8.8m in loan financing. @LinkedFinance

Founded out of NovaUCD in 2012 by former Vodafone managers Emmet Savage and John Tyrrell, Rubicoin aim to simplify the investment process via a series of user-friendly phone apps, giving users the option to invest in real life. @rubicoin

Salmon Software
Founded by CEO John Byrne in 1985 and celebrating thirty years in the software business, this veteran Irish FinTech outfit produce Treasury Management System (TMS) software used by a client base that includes Bord Gais, Elan, Airbus, Fexco and Ryanair. Headquartered in Dublin, they also have an office in the Czech Republic. @SalmonSoftware

Founded by brothers Malcolm and Morgan Lynch in 2012, Senddr is a secure document exchange system which allows for instant transfer of invoices and related documents between trading partners. Noteworthy clients include Facebook & Easons. @senddirect

Signatur Labs
Signatur Labs was founded in 2014 by Kevin Loaec and Alex Beregszaszi. They offer a series of secure hardware solutions for cryptocurrency apps, including ‘The Card’ for blockchain-based payments in real life locations, and ‘The Vault’, a wireless hardware wallet which stores keys. @Signatur

TouchTech Payments
Founded out of Trinity College Dublin’s Launchbox incubator, TouchTech Payments was established in 2014 by Shekinah Adewumi and Joseph Kuye to design and implement ID authentication software for use by financial institutions. @touchtechp

Way2Pay is a pay by mobile service that automates, audits and manages school payments. Founded by Denise O’Grady in 2013, investors in the company include Enterprise Ireland, Suretank Group Ltd founder Patrick Joy and Jenson Solutions’ John Aiken. They raised €500,000 in a funding round earlier this summer. @way2payireland

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