Israeli fintech firm Fibonatix expands to Manchester

Israel-based global payments specialist firm Fibonatix has announced the establishment of its operations in Manchester. The fintech startup will be temporarily located in Deansgate’s Centurion House before taking permanent residence in next April, as reported by Insidermedia.

"We view the North West as the developing center of the UK’s payments industry and we wanted to be right in the center of it," Tal Miller, chief executive of Fibonatix, stated. "We believe in working with and developing local talent so decided to recruit from Manchester. In the long-term, the plan is to grow our UK workforce and expand the company’s international reach."

Fibonatix offers payment solutions that focus on online businesses and the company’s staff members in Manchester have their unique areas of expertise that include compliance and underwriting, risk management and finance.

A chief executive of investment agency MIDAS told that the expansion to UK markets demonstrates Manchester's growing reputation in fintech. "Fibonatix is a great addition to the ecosystem and they will be looking to connect with the fintech hubs across the city such as Rise Manchester and the soon to open Vault in Spinningfields," he added.