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Irish Post
20 hours ago
- Business
- Irish Post
Irish fintech company Fenergo announces creation of 300 jobs at Dublin HQ
LEADING Irish Software as a Service (SaaS) financial technology solutions provider Fenergo has this week announced the creation of 300 jobs at its global HQ in Dublin. The move is part of a €100m Research, Development & Innovation (RD&I) expansion plan supported by Enterprise Ireland. In addition to the new roles in Ireland, which will double the domestic headcount, Fenergo is creating new jobs across its international markets to meet demand for its AI-powered solutions. A total of 500 new positions will be filled by the company globally within the next three years. "This investment and growth of our Irish operations reflect our confidence in the excellent talent pool we have in this country, and a market where innovative thinking, entrepreneurship and evolving technology will propel Fenergo to new heights," said Marc Murphy, CEO and Founder of Fenergo. Fighting financial crime With support from Enterprise Ireland, Fenergo has also invested in a new RD&I Centre of Excellence, where the new Irish roles will be based, supporting Fenergo's innovation strategy. The new roles will enable Fenergo to further deliver on its mission to support financial institutions in fighting financial crime and creating a safer world. Fenergo will continue to build out its intelligent, AI-powered solutions for client lifecycle management (CLM), anti-money laundering (AML) and Know your Customer (KYC). This suite of solutions forms Fenergo's FinCrime Operating System, which addresses all anti-financial crime events and operations. The company's investment in its Irish and international expansion is expected to further bolster its ability to serve international markets while also growing its domestic business. In the year ending March 2025, 97 per cent of Fenergo's revenue was generated from exported business. 'Irish-owned, globally-focussed' Kevin Sherry, Interim CEO of Enterprise Ireland, said Fenergo's success showed how Irish companies can impact global markets. "Ambitious companies like Fenergo embody Enterprise Ireland's mission that Irish-owned, globally-focused companies will be the primary driver of our economy," he said. "Fenergo, announcing 500 new jobs today, is a great example of an innovative Irish company growing customers, adding RD&I to drive forward AI powered solutions and creating an impact in global markets. "I'd like to congratulate Marc and the team on this expansion and we look forward to working with them." Recruitment for the new roles is now underway, with candidates being sought for a wide range of mid-level engineering and R&D positions. Fenergo is also rolling out a graduate programme with the intention of appointing up to 30 university graduates. See More: Dublin, Enterprise Ireland, Fenergo
Irish Examiner
4 days ago
- Business
- Irish Examiner
Irish fintech Fenergo to create 300 jobs as part of €100m investment
Financial technology and security firm Fenergo is to create 300 jobs as part of a €100m investment at its global headquarters in Dublin. The roles are part of the Irish company's €100m Research, Development, and Innovation (RD&I) expansion plan, supported by Enterprise Ireland, as the company doubles its headcount in the country. Fenergo provides software as a service (SAAS) AI-powered solutions for companies, specialising in know-your-customer (KYC) and anti-money laundering compliance transformation for financial institutions. 'This investment and growth of our Irish operations reflect our confidence in the excellent talent pool we have in this country, and a market where innovative thinking, entrepreneurship and evolving technology will propel Fenergo to new heights,' said Fenergo founder and chief executive Marc Murphy. 'With AI at the core of our RD&I strategy, we are committed to delivering future-proof solutions for financial institutions in Ireland, across Europe, the UK, America, Middle-East and Asia - supporting them during times of intensifying geopolitical tension and regulatory uncertainty.' Recruitment for the new roles in Ireland are underway for a wide range of mid-level engineering and R&D positions. Fenergo is also rolling out a graduate programme to appoint up to 30 university graduates. Amid concerns over Ireland's dependence on foreign direct investment, Enterprise Ireland chief executive Kevin Sherry noted that Fenergo is an example of a domestic firm choosing to invest at home. Some 97% of Fenergo's revenue in the year ending March 2025 was generated from exported business. 'Ambitious companies like Fenergo embody Enterprise Ireland's mission that Irish owned, globally focused companies will be the primary driver of our economy,' Mr Sherry said. 'Fenergo, announcing 500 new jobs today, is a great example of an innovative Irish company growing customers, adding RD&I to drive forward AI powered solutions and creating an impact in global markets.' Enterprise, Tourism and Employment Minister Peter Burke said the announcement reinforces Ireland's position "as one of the largest and most important tech hubs in Europe".
Irish Independent
4 days ago
- Business
- Irish Independent
Fenergo to hire 300 people in Ireland in €100m R&D expansion
The firm, which was acquired by European private equity interests in a €600m transaction in 2021, says that the jobs will be in engineering, AI and other areas of the business. The move would double the firm's Irish headcount. A further 200 international jobs are also planned, the company added. The hiring is scheduled over the next three years with support from Enterprise Ireland. 'The new roles will enable Fenergo to further deliver on its mission to support financial institutions in fighting financial crime and creating a safer world,' said a company spokesperson. 'Fenergo will continue to build out its intelligent, AI-powered solutions for client lifecycle management, anti-money laundering and 'know your customer'.' Fenergo has achieved global success with software that helps companies with financial compliance and regulatory rules. Majority owned by the private equity firms Astorge and Bridgepoint, Fenergo's last valuation was approximately €1bn, making it one of a handful of Irish 'unicorns', privately-held companies worth more than $1bn. Recruitment for mid-level engineering and R&D positions is now underway, the company said. Fenergo also announced a graduate programme to attract up to 30 university graduates. 'This investment and growth of our Irish operations reflect our confidence in the excellent talent pool we have in this country, and a market where innovative thinking, entrepreneurship and evolving technology will propel Fenergo to new heights,' said Marc Murphy, CEO and founder of Fenergo. 'With AI at the core of our strategy, we are committed to delivering future-proof solutions for financial institutions in Ireland, across Europe, the UK, America, Middle East and Asia, supporting them during times of intensifying geopolitical tension and regulatory uncertainty." The company was talking as Enterprise Ireland announced client company export figures for 2024 of €36.75bn, up 7pc on 2023. The agency said that all territories and major sectors recorded increases and that its previously-stated strategic target of €30bn in exports had been surpassed. It said exports to Europe grew by 8pc to €10.63bn, representing 29pc of total exports. 'This is the first time that exports to this region have surpassed the UK, making Europe now the largest export territory for Enterprise Ireland's client base,' the agency said in a statement. The UK saw €10.52bn of exports in 2024 by EI client companies, up 4pc on 2023 and surpassing the €10bn mark for the first time. The North American market saw growth in exports of 8pc to €7.3bn in 2024.
Irish Times
4 days ago
- Business
- Irish Times
Fenergo to create 300 jobs in Dublin as part of €100m investment
Irish fintech Fenergo is set to create 300 jobs in Dublin as part of a €100 million global expansion which will see 500 jobs created globally. 'This recruitment initiative is really to solidify our position as the number one in the global market in the financial technology and financial crime space,' Fenergo founder and chief executive Marc Murphy told The Irish Times. The majority of the roles will be in software engineers, senior AI engineering positions and product managers which will be created over the next three years. Hiring for the positions, which includes 30 roles on a new graduate programme for the company, has begun. Mr Murphy said the investment is aimed at 'driving the AI agenda' and would 'help with product expansion' in response to client feedback. READ MORE 'A lot of global financial institutions are looking to consolidate vendors, and they want to back, and double down on, the vendors that they trust,' he said, Fenergo develops software for financial institutions that helps them with issues such as regulatory compliance and managing client data. Its customers include many of the largest banks and insurers in the world. The company has eyed an initial public offering (IPO) a number of times in recent years, but Mr Murphy said plans had been 'slowed down' by 'turbulence in the market'. 'It is certainly still on the cards,' he said but noted there are no concrete plans for an offering. 'We just need to wait for the conditions to be better.' Likening the decision on timing the IPO to a sailing trip, Mr Murphy said: 'You're not going to take a sailing boat out in the storm, we aren't going to put our business into the IPO market with how turbulent things are.' He ruled out the company seeking an IPO in 2025 but said a decision would be made 'next year, probably spring or early summer'. He said revenue growth was strong last year, with headline figures 'in the late teens' and expects top-line growth of about 20 per cent in the coming year; hoping for its annual contract value to see slightly faster growth in the 'mid to late 20s'. Despite exports accounting for 97 per cent of the company's business, the fintech founder is not concerned about the impact of US import tariffs on the business with the uncertainty acting as a 'great catalyst'. 'In the last quarter, we've signed three of the largest five banks in the US,' he said noting they were 'some of the largest deals we've ever done'. Mr Murphy said the ongoing 'turmoil has been an incredible tailwind' as firms see his company as helping to cut costs. The company founder said the firm had become 'bloated in certain areas' after pursuing growth 'at all costs' from 2015 to 2021. 'We opened a load of offices that, in hindsight, we didn't need because we can serve a lot of these countries from Dublin,' he said.
