A Norwegian financial technology business is to set up a tech hub in Edinburgh following the securing of a six-figure grant, it has been confirmed.
EedenBull will become the latest addition to Scotland’s burgeoning fintech sector, creating 20 jobs in the process.
The Oslo-headquartered company already has a presence in London, Dubai and Singapore. Its Edinburgh hub will support the development of its products and services for the digitisation of banking services and transactions.
The £225,000 regional selective assistance (RSA) grant announcement was made during a visit to the firm’s new offices in the capital’s Exchange Place business district by Scottish minister for trade and investment Ivan McKee.
Nicki Bisgaard, co-founder and chief executive of EedenBull, said: “New regulations, new technologies and new players are forever changing the way consumers and businesses think about payments.
“We want to drive change and develop new and innovative payment services. After very careful consideration we chose Edinburgh as our global technology hub. Access to talent, a thriving fintech scene and governmental support made that an easy decision.”
McKee said: “This £225k Scottish Enterprise RSA grant will help support their innovative work and support business growth. We have a growing fintech sector, with an increasing number of companies now operating in financial services across the country.”
Confirmation of the company’s push into the city comes as a Scottish fintech festival takes place this month.
Last week, FinTech Scotland said it had launched a consumer panel in what was billed as a UK first for the sector. It aims to plug consumer and citizen advocate groups into the fintech community with the emphasis on “citizen financial inclusion, problem solving and innovation”.