Start-up PolyDigi Tech will create more than a dozen Edinburgh jobs after securing funding from Scottish Enterprise.
The fintech, which has roots in Hong Kong and the Far East, is set to establish a tech hub with up to 16 staff in the Scottish capital following the £200,000 grant.
PolyDigi Tech focuses on cyber security, with an emphasis on ensuring authentication and authorisation of access to networks. Its Edinburgh operations will add capacity for expected growth and support product development.
Monika Ohashi, chief information officer of PolyDigi Tech, said the fintech plans to turn Scotland into a “global authentication base”.
This comes as a further boost to Scotland’s burgeoning fintech industry, with the number of small and medium-sized enterprises (SMEs) in the sector rising by more than 60 per cent in the past year.
FinTech Scotland estimates there are now 119 fintech SMEs operating across the country, with some hailing from Australia, the US and Europe.
Mark Hallan, director of global investment at Scottish Enterprise, said: “As part of our ongoing commitment to make Scotland one of the world’s leading fintech ecosystems, Scottish Enterprise is delighted to support PolyDigi Tech’s plans for a technology hub in Edinburgh through an RSA award.
“Scotland’s reputation for excellence in financial services is worldwide, which is demonstrated by the number of exciting, innovative fintech companies choosing our towns and cities to enhance their global reach."