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New York fintech company investing £24million in Northern Ireland, creating 293 jobs

Published on 23 January 2024

DailyPay has chosen Northern Ireland for its first expansion outside the United States crediting the culture, education and people in Northern Ireland as the top reasons for choosing Belfast.

New York-based fintech company, DailyPay, has chosen Northern Ireland for its first expansion outside the United States in a major investment that is creating 293 new jobs.

The company is an industry leader in on-demand pay technology that empowers employees with choice and control over their earned pay. The £24m investment by DailyPay was secured for Northern Ireland after Invest NI’s U.S. team promoted the benefits of establishing an office in Northern Ireland and worked closely with the company to help it set up here. DailyPay’s office in Belfast officially opened its doors in 2023.

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.

“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."

Invest NI offered 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.

Welcoming the investment, Mel Chittock, Interim CEO of Invest NI, added: “The success of the NI Investment Summit showed that Northern Ireland has a clear ability to deliver a world-class experience for investors. DailyPay has joined a well-established cluster of software development companies who have come to Northern Ireland because of our talent pool, ease of access to the European market, and business-friendly environment.

“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.”

About DailyPay

DailyPay, Inc., powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone. DailyPay delivers the industry’s leading on-demand pay solution that helps America’s leading employers build stronger relationships with their employees, so they feel more engaged, work harder, and stay longer. DailyPay works to ensure that money is always in the right place at the right time for employees and employers. DailyPay is headquartered in New York City, with operations based in Minneapolis and Belfast.

Source: News Letter (link opens in new window)