Top 5 Scaling Tips

by Gary Conroy, Chief Product Officer I’ve been fortunate enough to have been involved in the largest Irish FinTech deals. TransferMate Global Payments secured a valuation of over €350m at the time of a €51m minority equity investment from ING and AIB in 2017/2018, and Realex Payments was sold to Global Payments for €115m in 2015. Both companies have similar characteristics – entrepreneurial driving forces in Terry Clune, Sinead Fitzmaurice and Colm Lyon; neither is VC backed, instead choosing to grow organically through paying customers; both have been profitable since inception. What…

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The Why

A question we are asked repeatedly by kids is “why”? It can be exhausting, but they have the right idea – “Why” is the ultimate clarifying question. It demands explanation, context and support. It’s a simple question that, when asked by a 5-year-old, moves from cute to challenging to exasperating. In business this question is not asked as frequently as perhaps it should. When we don’t ask “why”, we give up the opportunity to learn critical information. We at TransferMate, would like to clarify “why” us? The answer is simple;…

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TransferMate Global Payments Partner With Accounts IQ

TransferMate Global Payments, the global B2B payments technology company partly owned by AIB and ING Group, has partnered with AccountsIQ to offer its customers a new way to access preferential FX rates for payments, saving them time and money with an automated solution within the AccountsIQ finance system. AccountsIQ’s clients include Web Summit, Gaelectric, Nuritas and Altratech. Gary Conroy, TransferMate’s Chief Product Officer commented, TransferMate is delighted to announce this new partnership with AccountsIQ. With a growing global client base, more AccountsIQ users are demanding simpler, faster and more cost-effective…

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TransferMate announces a €21m investment by ING

 And strategic partnership across the ING corporate client base Investment will help accelerate TransferMate‘s global expansion €51 million Series A funding invested in TransferMate in the past 8 months   29th July 2018 – TransferMate, (“TransferMate” or the “Company”), a leading cross-border B2B payments technology solution, is delighted to announce today a €21 million investment from ING Group N.V. (“ING”), one of Europe’s leading banks, for a small minority equity stake in the Company. TransferMate and ING have also agreed to a strategic partnership, where TransferMate services will be available…

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Blockchain, Payments and Irish FinTech

The past number of weeks in Europe have been very busy for FinTech. The beginning of June saw Money 20/20 in Amsterdam, closely followed by MoneyConf in Dublin. Both conferences had a strong focus on blockchain and cryptocurrency as emerging technologies.  Comparing this focus against the current FinTech Ireland map, only 3 companies are focused on blockchain and cryptocurrencies:   So if Irish indigenous FinTech isn’t busy with blockchain / crypto, where are the majority of the companies focused?  It’s clear from the map that there is a focus on…

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