The IDA has announced the grand opening of YapStone's new international HQ here in Ireland. Yapstone is forecasted to process over $15billion in electronic payments this year, and was recently named "a unicorn in the making" by the Huffington Post. Yapstone's growing presence in Ireland highlights Ireland's recent success in attracting the hot names in payments. Stripe also just announced the opening of their new Dublin HQ, and Square recently posted its first job opening in Dublin. As the new EU Payment Services Directive (PSD2) and Interchange Fee Regulation (IFR) create new opportunities for disruption in the EU payments and fintech space, YapStone will hopefully be one of many successes like this in Ireland.
YapStone's story also highlights the importance of co-working spaces in attracting US tech companies to Ireland. The new HQ is a 16,000 sq ft space, but when YapStone first set up its Irish operations in 2012 it set up in The Mill, a co-working space in Drogheda. When SME US tech companies first expand to Ireland with one or two employees, they are essentially operating an Irish startup (with slightly deeper pockets) which can benefit greatly from working around other startups for the first few months or years in Ireland. Here in Dublin we see this with the success of US companies like Twilio, Udemy and Pivotal operating out of Dogpatch Labs. Co-working spaces also frequently have relationships with lawyers (like Leman), accountants and real estate agents which they can recommend to US companies moving to Ireland.
Global Fintech Leader, YapStone, Celebrates the Opening of its International Headquarters in Drogheda, Ireland