A deep-tech start-up besides a new €20 m venture capital fund aimed at Irish Fintech is established in Dublin by Finch Capital.
Having offices in London, Singapore, Dublin and Amsterdam, Finch Capital is an early-stage venture capital firm.
With commitments of €110m, Finch Capital closed its second fund in 2018,
Enterprise Ireland is in the support of the new fund with an investment of €10m.
According to an Announcement made at the ‘Appetite for Disruption’, a fintech event at Talent Garden in Dublin, the new fund is focusing on deep-tech sectors and early-stage companies in the fintech, including InfoSec, AI, and internet of things.
According to Radboud Vlaar, Ireland has established itself as a leading European fintech and technology hub and Fintech Capital recognises that, and that they are delighted to be establishing a presence in the Irish market to support bold entrepreneurs transforming the financial services industry.
When considered the legacy of payments and other technologies from homegrown start-ups in Ireland, the timing of the new fintech-oriented fund is auspicious. These include players like Fexco in Kerry as well as Realex, Fire, CurrencyFair and TransferMate. Acquired by Mastercard in 2009 was one Irish fintech called Orbiscom and today Mastercard Labs in Dublin is the global centre for R&D for the card giant. Another one which has gone from three founders to employing several hundred people in less than a decade is regtech player Fenergo.