After taking a financial hit during the last crash, mortgage broker Karl Deeter reinvented himself as a fintech founder. Five years later, he’s sold his company in a multimillion-euro deal.
The London-based fintech has its European headquarters in Dublin. Chief commercial officer Luke Griffiths outlines how SumUp plans to increase its market share in Ireland over the coming years.
Cynergy Bank chief Nick Fahy told The Currency in March he could look to raise around £200m. Now, the bank has appointed Perella Weinberg Partners to lead the process.
SumUp and Square have amassed significant market share in Ireland but their Irish businesses are rapidly evolving beyond just accepting payments, according to their CEOs.
The Dublin-based business was founded in 2014, developing marketing software. It is being acquired by a similar UK company for €7.5m.
The digital bank lends to businesses with a "strong UK nexus", including Irish aparthotel business Staycity, which recently secured a £77m loan. Now its head of debt finance Ben Barbanel tells The Currency why OakNorth has opted to push into the US over the EU.
London has long been dominant in fintech. Politicians, regulators, founders, and stakeholders have been plotting The City's plans to retain its leadership position.
The British fintech bank, last valued at €5.3bn, is in the process of building out an Irish arm in order to operate in the European market. It has already made a series of high-profile hires and invested millions into its Dublin entity.
There are several live WRC cases taken by former Digisure (Ireland) Ltd staff who claim they were not paid wages for six months last year. The fintech’s founder told the commission last Friday that it intends to make everyone whole in the coming weeks as held-up funds are released to the company.
Pritesh Ruparel is leading Irish fintech firm Alt21 through a shift in strategy to focus on new products amid a drop in revenue. He tells The Currency about the plans.
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