Regulatory technology solutions provider FinTrU has announced plans to establish a European delivery centre in Letterkenny, Co Donegal and could create 300 jobs there over the next five years.
The Belfast company, which specialises in KYC, compliance, legal, risk and control and operations, designs technology-enabled solutions for investment banks.
It currently employs c.1,000 people at offices in Belfast, Derry, Dublin, London, Maastricht and New York and has been named by the Financial Times as one of Europe's fastest growing companies for the past two years.
The investment is supported by taxpayers through state aid from IDA Ireland, and the company has begun recruiting in the areas of compliance, legal and operations. It has also launched a graduate recruitment program, applications for which are now being accepted.
FintTrU founder and CEO Darragh McCarthy said it was "a natural step" to establish the company's EU hub in Letterkenny considering it already employs several people from Donegal.
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"The highly educated and ambitious talent based here in Donegal was a major motivating factor in FinTrU choosing Letterkenny as the next EU base," McCarthy said.
"This new location will further support FinTrU as we continue to work with the largest international investment banks across the world.
"FinTrU has forged a great partnership with IDA Ireland, Donegal County Council, Donegal Education & Training Board (ETB) and the Atlantic Technological University over the years and we are delighted to be working with them in delivering this project over the years to come.”
Taoiseach Micheál Martin said: "The new positions announced today by FinTrU are testament to the company’s growth and achievements, as it invests in and benefits from skills and talent from across the whole island."
Martin Shanahan, CEO of IDA Ireland, described the investment announcement as "a red-letter day for Letterkenny".
In its most recent accounts for the financial year ending in March 2021, FinTrU said it had increased turnover by 70% to £29m while more than doubling profit to £4.7m.
Photo: Darragh McCarthy.
