Fintech company Stenn Technologies has chosen Barcelona for the launch of its new technology and innovation hub, and from which it plans to boost its growth plans and product development starting this year. According to the company, the Catalan capital was chosen due to its access to talent and its first-class infrastructure.

The investment, which has begun with 25 employees being hired, will serve to increase the UK company's European presence. This is its second technology hub, the first outside the UK, and Stenn plans to invest in new openings later this year to reinforce its strategic growth.

A record year
The deal follows what the company describes as a “record-breaking” year. Specialising in serving companies involved in international trade, e-commerce and digital services, Stenn boosted its US presence in 2023 by opening a sales and marketing centre and hired 136 new employees worldwide.

The action plan for the new Barcelona hub will follow in the footsteps of the London hub, where product management, engineering, security, data and design teams have been set up. As well as working on innovation and new product development, it will in this way complement the strength achieved in the British capital.

World-class talent
Stenn'sChief Product Officer, Bilal Bajwa, believes that “Barcelona's continued investment in ambitious, cutting-edge technology companies makes it the ideal place to establish our first technology and innovation centre. Thanks to the city's world-class talent, excellent infrastructure and forward-thinking mentality, we are now well positioned to continue our growth journey in 2024 and beyond.”

Bajwa also says that the launch “of Stenn's first centre outside the UK is an important moment in the company's development as we continue to grow our business and expand our global offering to customers. We are incredibly excited to bring together our talents in the areas of products, technology and data to drive innovation in the years ahead.”

Commitment to technological development
Stenn's Vice President of Engineering, Ronaldo Florence, added, “Stenn is rapidly establishing itself as a leader in the fintech industry. Our new centre shows the company's deep commitment to pioneering technological development, particularly in Barcelona. This initiative allows us to merge the best of international trade finance with innovative AI-based risk assessment, while ensuring the highest level of user experience.”

Through Acció, Catalonia Trade & Investment has collaborated with Stenn to help the fintech company establish itself in the city, and will continue to provide support to assist with new investments that will be announced this year.

^{Photo: Stenn Technologies}