PAYSLIP, the Irish software multinational founded in 2016, has chosen Cantabria for its newest international expansion. The company, with operations in Ireland and Bulgaria, contacted SODERCAN through the www.investincantabria.com platform, initiating a process of analysis and negotiation that has successfully culminated in the creation of PAYSLIP Spain, a subsidiary of the Irish parent company, domiciled in our Community.
The Minister of Industry and president of SODERCAN, Javier López Marcano, highlighted that the arrival of this multinational in Cantabria is the result of the project to attract foreign investment ‘Invest in Cantabria’, which SODERCAN launched some months ago to raise awareness of the potential and opportunities the Autonomous Community has to offer.
PAYSLIP was interested in expanding into Spanish-speaking markets and Cantabria was one of many possible options. According to the company, a key factor in their decision was the support offered by SODERCAN to potential investors in setting up new business projects: potential locations, regulatory procedures, grants and subsidies, global assessment, etc.
Mr. Marcano explained that PAYSLIP currently employs over 90 people and has great growth potential. The company develops bespoke software solutions for the creation of global payroll platforms for large multinationals, providing its clients with detailed data analysis, automation and integration for the efficient management of the legal complexities of global payrolls.
The Minister of Industry thanked PAYSLIP for its decision to locate in Cantabria and noted that the company aims to end this year with some 20 employees, the majority software developers and IT engineers drawn from graduates in our region.
The forecasted growth prospects of PAYSLIP are very high and the company is expected to become a reference within the ICT sector in our community.
López Marcano announced an upcoming visit to Cantabria of PAYSLIP founder and CEO Fidelma McGuirk, who will hold a number of meetings with representatives of the Government of Cantabria, SODERCAN and other institutions in the field of innovation and new technologies.
The company currently works with a number of large multinationals, including AIRBUS, NITRO, AMCS, GOTO, WAVE, CLOUDERA, PHOREST and TEAMWORK. With a solid and well-balanced financial structure, PAYSLIPS’s shareholders include a number of investment funds specialised in new technologies, such as MOURO CAPITAL (with the involvement of Banco Santander), MIDDLEGAME VENTURES, FRONTLINE, ENTERPRISE IRELAND, TRIVAL.VC and BLOOM EQUITY.
The Minister of Industry noted the intense competition to attract international investment, where the decision to invest depends on multiple factors. Within this scenario it is essential not only to offer ‘tangibles’ to potential investors but also to offer the right tools that are accessible to all to facilitate the process, such as the “Invest in Cantabria” website.