Irish entrepreneur launches €1m innovation fund

The CEO of Navan-based Prepaid Financial Services has launched a new €1 million Innovation Fund for entrepreneurs, SMEs and secondary schools.

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29 September 2017 | 0

Prepaid Financial Services Limited (PFS) has launched a €1m Innovation Fund to give entrepreneurs, small to medium enterprises and secondary schools an opportunity to to get their ideas off the ground. The seven-figure fund comes as the company announces annual growth in 2016 of 45% to €47.6 million up from €32 million in 2015.

An authorised and regulated FinTech, PFS currently employs 175 people and has an Innovation Centre in the IDA Business Park in Noel Moran’s native Navan in Co. Meath. With offices in Ireland, the U.K., and Malta, PFS is now one of Europe’s fastest-growing e-money financial services companies. It has won a list of awards and nominations for next-generation e-banking solutions.

“I’m keen to encourage a new crop of Irish business technology talent with our Innovation Fund,” says Noel Moran, CEO. “It’s good to remember that my wife Valerie and I started this business on our kitchen table.

“We’ve just released our figures for 2016 which confirm yearly growth of 45%. Our €1m Innovation Fund initiative is another exciting venture as the company continues to expand. Ideally, it can provide a solid foundation and launchpad for a great business idea here in Ireland. Plus, 28 new staff have recently joined the company.

Since 2008, PFS has developed a customer base of over 2 million prepaid cardholders in 24 countries. Such is the growth at the company that it is set to issue over 1 million cards in 2017 and is one of Mastercard’s fastest growing e-money card issuers.

Further information on the Prepaid Financial Services Entrepreneur FinTech Innovation Award, Small-Medium Enterprise FinTech Innovation Award, and Junior FinTech Innovation Award can be found at: https://prepaidfinancialservices.com/en/Innovation

 

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