16th November 2017
An Tanaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald T.D., and YapStone, a leading global payments company founded in Silicon Valley, today announced it will invest $48 million (€41 million) in the creation of 200 new tech jobs, at its International Headquarters in Drogheda, Co. Louth, Ireland.
This new investment is supported by the Irish Government through IDA Ireland.
YapStone, which first established operations in Ireland in 2012, opened a new 16,000 square-foot International headquarters in 2016 where it currently employs 125 people. The company’s hyper-growth in both Ireland and the United States has continued well into 2017, earning numerous accolades including placement on the INC 5000 List of Fastest Growing Companies, The Deloitte Fast 500, The San Francisco Business Times Top 50, and the 2018 Wealthfront Career-Launching Companies List.
Speaking in Drogheda at the announcement, An Tanaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald TD said: “ Yapstone’s initial decision to locate in Drogheda just a few years ago was a great boost for the town and I am really delighted that already the company have decided to expand its business here, with the creation of an additional 200 jobs. The Government has been driving job creation in locations which are away from the bigger cities, and this expanded operation, involving so many highly skilled technology jobs, is a great vindication of that policy. I look forward to Yapstone’s continued success in Drogheda”.
The leadership team at YapStone has decided to grow its Irish presence by establishing a Product Engineering development center at its International HQ in Drogheda with recruitment commencing in early 2018 for over 200 highly skilled engineering and technology positions over the next five years
“Partnering with the Irish Government is one of the best decisions our leadership team has made,” says Tom Villante, Co-Founder and CEO of YapStone. “We have hired tremendous talent in Ireland, and they have played a major role in YapStone’s success and international expansion. It was a natural decision for us to expand our investment in Irish talent into technology.”
Minister of State at the Department of Finance, Michael D’Arcy said: “I was delighted to meet with Yapstone in the US recently and to hear how well they’ve progressed since establishing their International headquarters here five years ago. It’s great to see them now expand operations especially as the addition of a Product Engineering Development Centre is an important strategic development, central to its future growth. It’s a huge endorsement of Ireland, and Drogheda, as an excellent location for this type of business, including the availability of a strong talent pool. I continue to work with the financial services sector in prioritising talent as a key component of the Government’s strategy for the sector, IFS 2020. I wish Deb Tenenbaum and all the team all the very best for the future.”
CEO of IDA Ireland Martin Shanahan said: “This significant expansion of Yapstone’s Drogheda International HQ to include a Product Engineering Development Centre is great news for Co. Louth and the Border region and demonstrates substantial further commitment by the company to the region. It will serve as an excellent reference site for IDA in marketing this key regional location. I congratulate Yapstone on its success in Ireland since establishing operations here in 2012 and wish them continued future success.”
“True to our nature, YapStone forges a new path by choosing to invest its international expansion in the city of Drogheda with the rich talent pool along the M1 corridor,” states Debra Tenenbaum, EVP/Chief People Officer at YapStone. “As millennials look to purchase their first home or begin their families, having a progressive employer in Drogheda provides individuals choices outside of Dublin.
She added “Up until now, YapStone has mostly hired customer service and operations talent to fill positions in its global operations center. However, this new investment will be allocated towards hiring for engineering positions, under the leadership of our esteemed Chief Technology Officer, Sanjay Saraf, who is responsible for global Product Development.”
“Irish tech talent is exceptional,” says Sanjay Saraf, EVP/Chief Technology Officer, Yapstone. “We are very excited to employ Ireland’s finest software engineers and build technology IP that will further revolutionize digital payments for shared economy and global marketplaces. YapStone is investing in cutting edge cloud enabled technology, big data, API platforms, and modern NoSQL databases and tech talent in Ireland will have an opportunity to build great products and enrich their professional careers.”
For more information about the company, visit YapStone.com. If interested in employment opportunities at YapStone, visit www.yapstone.com/careers or contact Kendra Ingram at IrelandRecruiting@yapstone.com.
About YapStone: YapStone is a provider of online and mobile payment solutions for global marketplaces and large vertical markets, powering electronic payments for sharing economy marketplaces, such as HomeAway® and VRBO®, and thousands of apartment and vacation rental companies, homeowners’ associations, self-storage companies, and hospitality establishments. YapStone processes over $18B in payment volume annually and has been recognized on the Inc. 5000 list of Fastest-Growing Private Companies for ten consecutive years. The company has raised over $110 million from investors including Accel Partners, Meritech Capital and Bregal Sagemount. Headquartered in the San Francisco Bay area, YapStone has additional offices in Santa Monica, Texas, California and Ireland.
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