Wednesday 12 December 2018

Major US investment for Dundalk company revealed

Shane Brett
Shane Brett

Dundalk company Gecko Governance has got a $1million investment which will allow it to increase its workforce and grow globally.

Co founder and chief executive Shane Brett said that the funding from by tech investors COSIMO Ventures is a major boost for the company which has its headquarters in the Regional Development Centre on the DkIT campus.

This investment will allow the company, which specialises in developing software to enable fund managers and banks to meet regulatory and compliance requirements, to expand to meet growing demand.

Shane had worked in hedge funds and asset management for 20 years and realised that there was a market for software technology which would give pension fund managers a live oversight of all their funds regulation and compliance requirements.

A graduate of Dundalk Institute of Technology, he paid tribute to the support which he has received from the Regional Development Centre, the Local Employment Office and Enterprise Ireland.

'Dundalk is our main headquarters and it's where our technical team and managers are based,' he explained. 'We also have sales people based in financial centres in London, New York and Hong Kong.'

GECKO was a recipient of the 2016 'Seedcorn Competition,' Europe's largest start-up prize, and placed 10th in 2017 in the RegTech 100, a list of the most influential RegTech companies worldwide.

It employs around a dozen people in Dundalk and Shane said this funding will allow them to grow that employment to 35 plus.

'Every single member of our staff came out of DkIT and the college's technology for business course is really excellent.'

''Our Blockchain solution is agile and fully customizable, allowing us to integrate with each financial services firm's systems and set of best practices,' he said, describing blockchain as 'the future for regulatory and compliance in financial services, and we are pleased to have COSIMO Ventures' support as we expand to meet growing demand in this sector.'

'We want to be able to offer cutting edge, new tech jobs based in Dundalk,' he continued.'We have been able to employ a very high calibre of people from DkIT and are delighted to be able to offer them the opportunity of work in Dundalk.

The Argus