Modulr expands into fintech scene

Published: 24 September 2018

High-growth UK payments fintech, Modulr, has opened a new office in Edinburgh to take advantage of the city’s burgeoning fintech scene and grow its software engineering, customer support, risk and compliance, and finance teams.

Modulr recently completed its latest funding round, led by the UK’s leading digital venture builder, Blenheim Chalcot which brought the total investment in the company to £10.5m since its formation in January 2016.

Edinburgh is a burgeoning hub for talented software developers. Combine this with the city’s unmatched financial services heritage, and we have a recipe for success for ambitious fintech leaders like Modulr...

Stephen Ingledew, CEO , FinTech Scotland


The investment in Edinburgh is enabling key additional capacity and capability to support Modulr’s significant growth. Modulr accounts provide an alternative to bank accounts for business payments, making them faster, easier and more reliable than legacy technology solutions.

Having undertaken a review of the various technology hubs across Europe, Modulr chose Edinburgh for its excellent talent pool, support from industry and government bodies such as FinTech Scotland and Scottish Enterprise, and for being the UK's 2nd largest financial services centre. 

Edinburgh is the ideal home: its developer population grew by 8% in the second half of 2017, reaching nearly 20,000. Modulr will look to recruit directly from this talent pool, as well as from the city’s three renowned academic institutions: The University of Edinburgh (including the world-leading School of Informatics), Edinburgh Napier University and Heriot-Watt University...

Full story via SBNN News



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