United Fintech opens a developer hub in Madrid

United Fintech, a quickly growing fintech firm launched by Christian Frahm, today revealed it is opening developer hub in Madrid this week.

According to the official announcement shared with LeapRate, the new office is located in the same building as one of its portfolio companies, Athena Systems. Leading the new office will be United Fintech’s Chief Technology Officer, Erik Nordahl. He will move to Madrid to oversee key development projects and the growth of the firm’s developer team.

The team in the new office will focus on a range of products and client projects within the capital markets sector. They will also strengthen the technology teams within United Fintech’s portfolio companies –  Athena Systems, FairXchange, NetDania and TTMzero.

Christian Frahm, CEO, United Fintech commented:

Christian Frahm, United Fintech

Christian Frahm

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.

United Fintech announces new office in Madrid

Erik Nordahl, CTO, United Fintech added:

Erik Nordahl, United Fintech

Erik Nordahl

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.

A fintech ‘one-stop-shop’

United Fintech has been focused on its rapid expansion through acquiring and scaling fintech companies in the capital market space. The firm highlights its plans to build a fintech ‘one-stop-shop’ that global banks and financial institutions can benefit from.

Through establishing partnerships with the founders of each acquired fintech, United Fintech aims to optimise their business. Additionally, the firm works closely with its institutional client base to provide solutions for automating workflows, easing onboarding, delivering efficiencies, and saving costs.

United Fintech bought a 25% stake in Athena Systems in the beginning of year and in November 2021, the firm also acquired a stake in London-based FairXchange.

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