Australian FinTech firm Halo Technologies is launching a new operations and development centre in Glasgow, which will lead to the creation of over 60 new jobs in the city.
Halo Technologies offers a global equities research and trading platform, providing institutional-level market insights and analytical tools to everyday investors, according to Finextra.
The company’s UK arm, Halo Invest, was formed in January following its acquisition of Resilient Funds Management. Industry expert Douglas Boyce, who has over three decades of experience, was appointed as CEO.
The Glasgow initiative, valued at £8m, has received £800k in support from Scottish Enterprise. It is anticipated to create more than 60 jobs within two years.
Boyce explained that Glasgow was selected as the location after considering several UK cities, praising its strong financial services and fintech talent pool.
Speaking on the news, he said, “We had the opportunity to locate anywhere in the UK, but Glasgow demonstrated itself as the ideal city for us to base ourselves with its well-established mix of financial services and FinTech talent.”
Scotland is home to over 220 fintech companies, making it the UK’s largest fintech hub outside of London.
Jane Martin, Managing Director of Innovation and Investment at Scottish Enterprise, emphasized the fast-paced expansion of the sector, stating, “Revenues in the fintech industry are predicted to grow almost three times faster than those in the traditional banking sector over the next three years. We see this as being an important breeding ground for new scaling businesses that will help drive Scotland’s future economic growth.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
