The Dublin fintech firm is merging with Australia’s Meeting Funds with an undisclosed funding from SC Ventures.
Funds platform CurrencyFair is to merge with Meeting Funds, an Australian automation firm for complicated workflows, after a strategic funding from Customary Chartered’s SC Ventures. Pending shareholder and regulatory approval, the Irish fintech’s workers will instantly develop from 90 to 160 and can additional develop to 450 over the subsequent 4 years.
CurrencyFair is predicated in Ballsbridge, Co Dublin, the place it was based in 2009. Since then, it has onboarded greater than 150,000 clients and raised greater than €20m, based on Crunchbase. Its money-matching companies handed the $1bn barrier in 2016 and two years later it acquired Hong Kong’s Convoy Funds, which allowed it to enter the Chinese language market.
Eire continues to be its largest hub and alongside Singapore and Hong Kong, will probably be house to nearly all of the job alternatives. Enlargement will probably be world, nonetheless, with vacancies additionally on the way in which for Australia and the UK throughout engineering, product, gross sales, advertising and extra.
The corporate’s CEO, Paul Byrne, will lead the newly merged enterprise, which is able to particularly cater to key ache factors within the cost course of. These embody fragmentation of cost ecosystems, regulatory compliance and information privateness and safety.
“This merger is a pure evolution for CurrencyFair as we transfer past easy transactions in direction of constructing an organization which permits companies and people to entry, construct, join and use any cost service,” Byrne mentioned.
Rimal Gokani, co-CEO of Meeting Funds, commented: “An increasing number of companies are shifting and increasing on-line and as they make investments they want complimentary cost companies together with FX, fraud administration, reconciliation and non-card funds.”
CurrencyFair chairperson Will Prendergast added: “The merged proposition will concentrate on 5 core capabilities – funds, world cost accounts, companion ecosystem, lending and settlement, and companies – to deal with the expansion alternatives within the $2trn income marketplace for funds.”
Maintain an eye fixed out for jobs information at CurrencyFair through its careers portal. At the moment, the corporate has three Dublin vacancies in buyer expertise.