Mangopay, a payment solutions provider for marketplaces and crowdfunding platforms, has announced the opening of a tech hub in Madrid. It is the company's first outside France, and will be dedicated to innovation. A selection process has been launched for the opening, and a team of 25 engineers and IT specialists, both junior and senior, will be recruited over the next few weeks.

The French company has achieved scale-up status thanks to its double-digit growth in recent years. After receiving a 75 million investment from Advent International, the aim now is to accelerate that growth by recruiting talent to develop cutting-edge technologies and improve the services offered. The choice of Madrid will also serve to strengthen the firm’s position in the Spanish market.

Technology leader and driver of growth
Specifically, the new tech hub team will be tasked with balancing efficiency and customer centricity to improve the user experience. Their key task will be to develop functionalities that contribute to the consolidation of the company’s offering, and ensure that transactions are simpler and more secure.

Mangopay's Madrid office opened two years ago. The creation of a tech hub at this point in time represents an increase in the company's investment in Spain, with a view to making it the company’s technology leader and a driver of growth throughout Europe. The choice of the Spanish capital was influenced by the quality of life it offers, a key factor in attracting qualified talent. Proximity to southern and western European talent in terms of technical disciplines, and good links to Mediterranean countries, with Italy being of particular importance to the company, were other factors taken into account.

Workforce expansion
The 25 new employees will be in addition to the eleven members currently in the Spanish team. The French company, which was founded in 2013, has 260 employees in total and plans to double that number by the end of 2023. Over 2,500 marketplaces, such as Wallapop, Carrefour and Galeries Lafayette, currently use it to manage transactions and for user verification.

Mangopay CEO Romain Mazeries said that with the Madrid tech hub, "We’re investing in order to reinforce our role as a technology pioneer, and sharpening our profile as one of the most attractive employers in the European tech sector".

Nicolas Fournié, head of the company in Spain and Portugal, explainedthat this investment is a key step, and added,, "The fact that global technology companies are investing extensively and providing world-class job opportunities, as well as strengthening the technology and e-commerce sector, is a great opportunity for Spain and for Madrid".

^{Photo: Mangopay}