DailyPay has chosen Northern Ireland for its expansion outside the United States in a key investment that is reportedly creating 293 new roles.
The Fintech claims it is an industry leader focused on on-demand pay technology that empowers workers with greater choice and more control/flexibility over their earned pay.
The £24 million investment from DailyPay was reportedly acquired for Northern Ireland after Invest NI’s U.S. team advocated for the benefits of launching an office in Northern Ireland and worked with the firm to help it set up here.
DailyPay’s office in Belfast opened for business last year.
Northern Ireland is said to provide an attractive investment location as it has a talented workforce, an affordable business sector, as well as steady support from Invest NI.
As reported by local sources, Ed Zaval, Chief Customer Officer at DailyPay, credits the culture, education, and people in Northern Ireland as the top reasons for choosing Belfast for the new operation.
“DailyPay has built an award-winning, trusted, first-of-its-kind technology platform that is revolutionizing the way employees are paid while dynamically changing the way money moves,” said Zaval. “We are thrilled to be expanding our talented team to augment the U.S. engineering and customer support functions and open up opportunities for expanding our international reach.”
As noted in the update:
“Northern Ireland offers a highly attractive investment location as it has a well-educated workforce, a cost-competitive business environment, and excellent support from Invest NI. We have already got our Belfast office up and running and recruited 100 staff and intend to have all the jobs in place by mid-2025.”
DailyPay has joined other software development firms that have come to Northern Ireland because of its qualified talent pool, ease of access to European markets, and business-friendly policies.
Invest NI has reportedly provided the company support “for the roles and advisory support on setting up an office in Northern Ireland. Many of the roles are hybrid working, with two-thirds in Customer Excellence and the remainder in product and engineering roles.”
Mel Chittock, Interim CEO of Invest NI, said:
“The success of the NI Investment Summit showed that Northern Ireland has a clear ability to deliver a world-class experience for investors….With an average compensation of £42,500, the new jobs will deliver over £12 million to the local economy in additional salaries. The jobs will enhance the capability of our workforce and, in particular our important financial services sector, by exposing it to new technologies which will contribute to strengthening our economy and deliver the Department for the Economy’s 10x vision.”