United Fintech is opening a new office in Spain's capital city, Madrid. The office will be in the same building as one of its portfolio companies, Athena Systems.
Erik Nordahl will relocate to Madrid to monitor the developments of key projects and United Fintech's developer's team. The team will concentrate on developing projects that focus on capital markets.
In addition, the development team will support United Fintech’s portfolio companies, Athena Systems, FairXchange, NetDania and TTMzero.
Fight for Technical Talent
Christian Frahm, the CEO of United Fintech, elaborated: “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, the CTO of United Fintech, said: “Our expansion in Madrid is a great strategic move, enabling us to continue to access top technology talent for our own initiatives, client projects as well as 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 fintech companies in the capital markets sector and creates a one-stop-shop that hedge funds and asset managers may benefit from while accelerating the transition to the digital space.
