The new office, based in the same building as one of its portfolio companies, Athena Systems, is being headed up by United Fintech’s Chief Technology Officer, Erik Nordahl who is relocating to Madrid to oversee key development projects and the growth of United Fintech’s team of developers.
The developers in United Fintech’s Madrid office will focus on a range of innovative products and client projects within the capital markets sector. They will also supplement the technology teams within United Fintech’s portfolio companies – Athena Systems, FairXchange, NetDania and TTMzero.
Christian Frahm, CEO, United Fintech explains, “Sourcing technology skills in the current climate is extremely challenging. There is a fight for technical talent, which has been exacerbated by the Russia/Ukraine situation. With many of our clients increasingly questioning Eastern Europe as a resource hub for development, we have been reviewing alternative options to access the very best talent in the industry. We see great potential in leveraging Athena’s already established brand and network within the top talent IT community over the past 15 years.
“We have recently been working with a number of highly skilled developers in Madrid on a project for one of our global investment bank clients. We are opening the United Fintech office with four developers and are actively recruiting more.”
Erik Nordahl, CTO, United Fintech adds, “Our expansion in Madrid is a great strategic move, enabling us to continue to access top technology talent for our own initiatives, client projects, and to help scale our portfolio companies. The impact of our global sales force is resulting in increased activity for our portfolio companies and the need for additional resources. If they struggle to recruit developers in their respective locations – London, Berlin and Copenhagen – we can now source developers for them in Madrid.”
United Fintech acquires and scales innovative fintech companies in the capital markets space, creating a fintech one-stop-shop which banks, hedge funds, and asset managers can benefit from to accelerate their transition to the digital world. United Fintech forms partnerships with the founders of each acquired fintech to optimize their business and works closely with its institutional client base to provide elegant solutions for automating workflows, easing onboarding, delivering efficiencies, and saving costs.