Fenergo to hire 300 people in Ireland in €100m R&D expansion
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.
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