Norwegian fintech company, EedenBull, has announced the launch of a new technology hub in Edinburgh following a £225,000 funding grant from Scottish Enterprise.
This latest addition to Scotland’s growing fintech sector will enable the creation of 20 new jobs and the technology hub, based in Edinburgh’s Exchange Place business district, will support the development of the firm’s products and services.
EedenBull is headquartered in Oslo but has a presence in London, Dubai and Singapore. Established in 2018, the firm specialises in the digitisation of banking services and transactions and has developed innovative payment solutions for companies, organisations and consumers globally.
Speaking of the move, co-founder and CEO Nicki Bisgaard said EedenBull chose Edinburgh due to its growing fintech sector, as well as access to talent.
He said: “New regulations, new technologies and new players are forever changing the way consumers and businesses think about payments. At EedenBull we want to drive change and develop new and innovative payment services.
“After very careful consideration we chose Edinburgh as our global technology hub. Access to talent, a thriving fintech scene and governmental support made that an easy decision.”
From the new technology hub, the company plans to develop a range of new products and services, which will include physical and digital credit cards, complete with an app for mobile wallets and wearables – and a business spend management programme targeting small-to-medium enterprises (SMEs).
Scottish Enterprise worked in partnership with FinTech Scotland to attract EedenBull to Scotland.
FinTech Scotland CEO, Stephen Ingledew, said: “EedenBull is leading the way in making life easier for customers through their innovative fintech solutions, and we are delighted to welcome this world-leading team to the FinTech community in Scotland.”
The RSA awards announcement was made during a visit to EedenBull’s new offices by Ivan McKee MSP, Scottish Government minister for trade, investment and innovation.
Commenting on the firm’s decision, McKee said: “This £225k Scottish Enterprise RSA grant will help support their innovative work and support business growth. We have a growing fintech sector, with an increasing number of companies now operating in financial services across the country.
“This makes Scotland an attractive location for business investment for companies like EedenBull, where they will find dedicated support from our enterprise and skills agencies like Scottish Enterprise.”