Fintech

Irish fintech Prommt eyes further US expansion after demand surge

Founded in 2016, Dublin-based Prommt scored some high-profile clients last year, including a Premier League football club.

Irish payment request platform Prommt has begun the new year with a bang as it is set to grow its US customer base after significant increase in demand in its core European market.

After completing a Series A funding round at the end of last year, Prommt reports that it hit a key milestone of three million payment requests in Europe over the Christmas period.

Prommt pitches itself as a ‘pay-tech’ company that is on a mission to improve the way enterprises request, collect and report remote customer transactions. It gives companies the ability to send secure and branded payment requests to customers.

It counts among its clients several new high-profile customers, including a Premier League football club. Last year, Prommt launched an open banking feature called Pay by Bank via its partner Token – which it said was adopted by 20pc of customers within six months of launch.

“Prommt has seen some major achievements over the past 12 months, and we are excited for what’s in store for 2023,” CEO Donal McGuinness said.

“With recruitment and expansion on the horizon, even in uncertain times globally, demand for new fintech and digital payment solutions continues to rise.”

The company intends to use the funds from its latest round and recent surge in demand to further expand its existing customer base in the US and Canada. It also wants to push further into hospitality, sports services, retail and building material suppliers across North America.

Prommt will also expand its team with a potential recruitment drive this year to fill roles in sales, marketing and product development.

“I believe we will see a continued shift to open banking payments in 2023 with significant growth continuing year on year,” McGuinness said of the fast growing sector Prommt is now increasingly invested in.

The company was founded in 2016 and is based in Dublin.

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