Fintech leader Yapstone opens global headquarters in Drogheda
US-based fintech company, Yapstone, has held the grand opening of its international headquarters at a new, 16,000 sq ft office in Drogheda.
The company delivers online and mobile payment solutions for businesses large and small. Intended to streamline how transactions are made and collected, the company has undergone significant growth in the US and around the world. Yapstone forecasts that it will process over €15 billion of electronic payments this year.
Over the next year, the company expects to hire 40 to 50 people for its new Drogheda office. The Irish office will feature a full service offering, including engineering, product, sales, customer service and risk operations.
Fintech is acting as a major disruptor to traditional financial services and their institutions. According to a recent report by PwC, 25% of Irish financial services organisations will lose more than a fifth of their business to fintech by 2020. However, Irish banks are more well equipped to deal with the disruption that fintech offers than their counterparts in Europe and beyond, according to the report.
Attendees at the launch included Yapstone co-founder and CEO, Tom Villante, and Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD.
Villante commented: “We selected Drogheda as home to our international headquarters because of the tremendous support we’ve received from IDA Ireland and of course, the incredible talent pool in this country. We are proud to partner with IDA Ireland to contribute to the sustained growth of Ireland’s local and regional economy and look forward to our continued success.”
Minister Mitchell O’Connor said: “This is a very exciting project and I am really pleased that we have attracted this cutting-edge financial services company to a regional location and that it has ambitious plans for its new offices in Drogheda. Ireland’s strong expertise in the ICT and financial services sector means that we can provide the requisite skills for companies like Yapstone, so they are able to service their international activities.”
