Ireland’s fintech sector has delivered exceptional growth despite global economic headwinds, attracting almost €1 billion in investment over the past five years, and cementing its reputation as one of the world’s leading financial innovation hubs.
While European fintech VC deal activity levelled off in 2023, Irish fintech experienced an exceptional year with the second-highest year for deal volume in a decade, attracting €266.3 million in investment.
The findings come from a new Enterprise Ireland report, powered by PitchBook data, which will be launched locally at the Australia Ireland Finance Forum in Sydney today and is available online now.
The Forum will bring together leaders from both Australia and Ireland to explore sector challenges, opportunities, and collaboration between the two nations’ thriving fintech ecosystems.
The Australia Ireland Finance Forum is organised by Enterprise Ireland in collaboration with Consulate General of Ireland NSW and IDA Ireland.
Enterprise Ireland is ranked among the top three most active European fintech investors in 2024, driven by strategic focus on early-stage companies where the organisation excels.
The robust investment activity reflects Ireland's growing position as a global financial services hub, now hosting over 400 international financial firms – including half of the world's top 50 banks and over 200 Irish-born fintech and financial services companies.
Anna-Marie Turley, Head of Enterprise Ireland’s Fintech and Financial Services portfolio who is visiting Australia for the Forum, said the report highlights both the diversity and resilience of the sector:
"Ireland’s dynamic landscape of fintech companies, particularly in the areas of regtech, payments, digital identity, sustainable finance, and AI highlights the strength, innovation and diversity present in Irish financial services. Critically, there is a very strong level of R&D investment in the fintech space in Ireland. Enterprise Ireland’s fintech clients have invested over €600 million in R&D between 2018 and 2023.
“With fundraising budgets tightening globally, Enterprise Ireland’s strategic investments, and the Irish government’s support for innovation, will help firms to scale further and ride out disruptions in the global trading environment. The Australia Ireland Finance Forum is an important platform to showcase the scale of fintech innovation from Ireland, which is delivering for a global industry, “she continued.
A natural partner for Australia
Ireland’s global position as a financial services hub offers strong parallels with Australia’s own fintech strengths. Both countries share highly skilled workforces, open economies, and growing reputations for producing globally relevant innovation.
The Australia Ireland Finance Forum will showcase opportunities for collaboration between the two markets, bringing together entrepreneurs, investors, regulators, and technology leaders to explore new partnerships.
Over 17 Irish fintech companies are participating at the Forum this year including industry heavy weights Fenergo, Fexco, FINEOS and DAON and rising stars such as Fundrecs, Quantmatics and Asora.
Tiarnan McCaughan Enterprise Ireland’s Senior Market Advisor for Financial Services Australia and New Zealand says, “It’s hard to overstate the strong the linkages in the financial sector between Australia and Ireland. Irish fintech and regtech companies have quickly made deep and resilient partnerships with Australian financial institutions and businesses. The VC activity Enterprise Ireland drives in the sector is a signal of our belief in this sector, and the Forum is bringing together all that success in Australia”.
About us:
Enterprise Ireland is the Irish government’s agency responsible for the development and growth of Irish companies in global markets. We invest in the most innovative Irish companies through all stages of their growth and connect them to international customers across multiple industries. Our goal is to build successful, long-term business relationships between international companies and Irish partners. With 40 offices worldwide, Enterprise Ireland’s teams of industry experts consult with international businesses to understand and solve their business needs. https://www.enterprise-ireland.com/
Contact details:
Louise Nealon, PR With Purpose, T: 0403 569 177