Up to 15 jobs could be created in the next two years by a leading fintech company which has opened a new base in Newcastle.
Singletrack is a capital markets CRM and research distribution platform whose technology is used by investment banks and brokers cross the globe.
Now the firm, which already has offices in London and New York, has opened its newest base in Newcastle’s Hoults Yard as it takes advantage of the region’s wealth of customer and IT support experience.
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An initial team of four is providing the company’s dedicated technology support operation. But Singletrack is looking to add between 10 and 15 more staff to its Tyneside operation to enable the firm to continue its expansion into the US and Asia.
Paul Dyson, chief technical officer at Singletrack, said: “Newcastle has thriving financial and tech sectors, and it gave us great confidence that there is a wealth of customer and IT support experience in the region. We hope to add to the team quickly and, given our growth in the last three years, a team of 10-15 in Newcastle by 2022 is achievable.
“The support of Invest Newcastle was invaluable during our expansion into Newcastle. There was a great range of office types and locations available, and we found a number of quality candidates looking for new roles.”
Inward investment agency Invest Newcastle supported Singletrack’s move to the city. The team developed a business case for Singletrack’s expansion, assisted with locating an office, and made introductions to recruitment agencies and local networks.
Ciara Slack, senior investment manager at Invest Newcastle, said: “It’s great to be able to welcome an international company like Singletrack to Newcastle. The Singletrack team was impressed with positive case studies and feedback from those already established in Newcastle and we’re looking forward to watching them grow here.
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“Singletrack joins Newcastle’s growing fintech sector, which already includes well-known names such as True Potential, XE.com, Kani Payments and WorldPay. The North East currently has an estimated workforce of 53,000 in the financial services and technology sectors, and it is an area that will continue to grow.”
Coun Ged Bell, cabinet member for employment and culture at Newcastle City Council, said: “We are really proud of the North East’s growing fintech cluster, with more and more businesses choosing our city as a place to locate and grow.
“This move from Singletrack is further validation of the confidence the sector has in our city, seeing the opportunities for growth and bringing more skilled jobs to our region.”