Industry & Business

Huckletree, the pan-European co-working space operator and accelerator, has announced it will open Ireland’s first fintech co-working hub in Dublin, establishing a European Fintech Hub similar to Barclays RISE, Level39 London and Lhoft Luxembourg.

Located in The Oval, Ballsbridge, Dublin 4, the ambition for the fully equipped 23,500 sq ft space is to be a leading European base for the global financial technology ecosystem, connecting the largest financial services firms in the world with exciting Irish startups, scale-ups and investors. The hub will open at the end of the year and will be promoted globally.

Huckletree Co-founder and Dubin native, Andrew Lynch, recently revealed their new expansion strategy including the opening of three new hubs, curated by theme and sector, under the Huckletree brand in Oslo and Manchester as well as Dublin.

The accelerator’s first Irish home opened in 2017 in The Academy building on Pearse Street, Dublin 2. It hosts 40 companies, 50% of which are Irish-founded. By the end of 2019, the added expansion will see Huckletree welcome over 2,000 members into its communities across Europe.

Huckletree Co-founder Andrew Lynch.

Ireland has a long established track record in both financial services and technology. With over 400 financial services companies and more than 44,000 people employed in the Financial Services sector, Huckletree’s new fintech hub will encompass sub-industries such as regulatory technology, insurtech, cyber-security, blockchain, peer-to-peer lending, crowdfunding/equity investment, investtech, and will be the Irish base for numerous global fintech Venture Capitalists.

Commenting on Huckletree’s second location, Huckletree’s Co-founder Andrew Lynch said: “I’m excited to see us bring a global fintech hub to life in Dublin. We have seen first hand the success of focused hubs such as Level39 in London, Lhoft in Luxembourg and Stone & Chalk in Sydney, and we felt compelled to create a centre of excellence that can bring entrepreneurs together, and showcase Ireland’s thriving ecosystem to the world.

“I’ve always believed that there is so much quality talent in Ireland and a new generation of founders coming through who are not playing small – they’re thinking big and global from day one  – but what’s missing is a place where all of these fintech players can work, collaborate and do business under one roof and get on with it. Today we are excited to announce plans for a space that can match that brave ambition and give these companies the physical platform, infrastructure, social community and confidence to internationalise and scale to unicorn status.

“We are heartened by the continued support from the Irish Government through ambitious strategies such as ‘Ireland for Finance 2025’  and the continued impact being made by Enterprise Ireland and the IDA. Our hope is that this becomes a true Town Hall for all fintech players and an ‘academy’ for future global success stories. We will be vetting applications for the next few months and look forward to welcoming our first members at the end of the year and becoming part of D4’s nascent tech scene alongside our neighbours IBM, Tableau Software, and Survey Monkey – and Facebook in 2020.”

Leo Clancy, Head of Technology at IDA Ireland, said: “Ireland is currently seeing two of its biggest industries in Financial Services and Technology converge in a vibrant new FinTech sector. This space will add to the new FinTech ecosystem and create space for both of these sectors to innovate.”

Erin Platts, Head of EMEA and President of Silicon Valley Bank UK, said: “We continue to see the ongoing positive impact that Huckletree has on growing and supporting businesses in both London and Dublin, and we’re excited for their plans to establish the first fintech coworking hub in Ireland. As we continue to experience a boom in fintech across Europe, there is a growing need to now bring together the right infrastructure, innovators, capital and talent across the sector to work alongside one another, collaborate, and move the industry forward to create a thriving innovation economy.”

Martin Cass, Director of Barclays Banking Private, said: “It’s great to see Huckletree launch Dublin’s first dedicated Fintech workspace, which will further foster the collaboration and synergies needed to ensure that Irish Fintech continues to flourish. Barclays is delighted to be partnering with Huckletree to host our London Accelerator Dublin open evenings.”

Kieron O’Brien, Director of Know Your Customer and current Huckletree D2 member, commented on the curated co-working model: “During the last 14 months, we’ve seen a number of innovative companies flourish and grow within the Huckletree D2 community brought together by their passion for developing truly cutting-edge technologies. The constant evolution of members and the great success stories we’re exposed to here continue to inspire us to push forward and deliver on the extremely high standards we set for ourselves as a company.”

Lory Keohoe, Managing Director of Consensys, commented: “Ireland is the ideal location for fintech companies to base themselves. We have the talent, innovation, the infrastructure and connectivity that would rival any major centre like London, but also offering a really good standard of living too. Every day we are seeing more and more companies choosing Ireland as their regional and global headquarters. Having a dedicated fintech hub in the city centre will undoubtedly help boost the startup eco-system here in Dublin.”