Maynooth based financial technology firm, Sentenial today announced it will hire 110 staff as the company expands to meet demand for its payment technology.
The company said that when the switch over to Single Euro Payments Area (SEPA) is made next year, Sentenial’s technology will be responsible for processing over €60bn worth of payments a year for companies and banks across Europe.
Sentenial Chief Executive and Founder Sean Fitzgerald said: “The expansion we’re announcing today will help support the rapid growth we have experienced in 2013 and the pipeline of opportunities in coming months. I am very proud to have built a successful indigenous Irish technology business from a start up in 2003, into a rapidly growing business at heart of the European payments system”
Companies are realising that the deadline for SEPA implementation is fast approaching and seeking expert advice to get their business ready. Whilst banks and large companies have invested in upgrading their systems, many SMEs in Ireland have not made adequate preparation, and could have an unpleasant surprise on 1st February finding that they are unable to pay suppliers and staff, or receive payments from customers.”
Sentenial already employs 160 staff - taking on 100 people in the past 12 months. The new roles will be filled by the end of 2014, with 30 to be advertised before Christmas.
Minister for Jobs, Enterprise and Innovation, Richard Bruton said: “As we have repeatedly said, at the heart of our Action Plan for Jobs is creating a powerful engine of Irish businesses, and we have put in place a range of measures to support more companies to start-up, expand and export. Irish businesses can compete with the best in the world.”
Sentenial is chaired by Kevin Lomax, the founder and former chairman of Misys, which was acquired in 2012 by private equity firm Vista for £1.3bn. Former EU Commissioner Charlie McCreevy joined the Sentenial board in 2011, and former A&L Goodbody managing partner and Ryanair director James Osborne has been on the board since 2006.