Fintech Twispay aims to increase its team as it moves to its new headquarters in Bucharest
Capital Financial Services, the financial institution operating under the Twispay brand, announced a new location for its headquarters in Bucharest and plans to increase its team this year.
The new Twispay office in the capital is located in the Class A office building Crystal Tower and covers a total of 1,000 square meters. The company said it worked with designer Alina Stoian, founder of 2Deco Studio, for the new headquarters.
Also, Twispay said it aims to end the year with more than 50 employees, doubling from the end of 2021.
“Twispay started as a disruptor of the regional fintech industry, a startup founded in Romania, which aimed to revolutionize the way money circulates in the world. The fact that in 5 years we have gone from a few employees to a team of almost 40 professionals is a sign of maturation both for our company and the local fintech market. We continue this growth and aim to end 2022 with over 50 employees, who work both in the office and externally, says Augustin Dobre, CEO of Twispay.
In the same statement, the company cited official figures showing that fintech is a growing industry in Romania. According to studies by the Romanian Association for Entrepreneurship and Technology, the pandemic has accelerated the growth of the fintech sector in Romania, in line with the development of e-commerce. Compared to other startups, financial technology companies currently stand out as the largest employers, providing 35.2% of existing early stage technology jobs.
According to estimates from Statista, digital payments will become the largest segment of the national fintech industry by the end of 2022, with a total transaction value of over USD 8.99 billion. Moreover, the number of users making digital payments is estimated to increase to 11.5 million by the end of 2027.
In addition, Twispay also singled out the large number of internet connections and fast internet speeds as another factor that has made the fintech space one of the fastest growing sectors.
“All these, combined with the high expertise of Romanian developers, have made our country an attraction for regional investment funds and a good partner for companies with an international presence. Romania is no longer just the place for outsourcing IT operations. We are starting to position us as a regionally relevant incubator, said Augustin Dobre.
Part of the Elrond network, Capital Financial Services, operating under the Twispay brand, is an electronic money issuing institution, the first of its kind licensed in 2013 by the National Bank of Romania. It offers electronic currency issuance and payment processing services for online transactions via VISA, Mastercard or other alternative payment methods.
(Photo source: the company)
