Fintech Twispay aims to increase team as it moves to new HQ in Bucharest

Capital Financial Services, the financial institution that operates under the Twispay brand, announced a new location for its headquarters in Bucharest and plans to increase its team this year.

The new Twispay office in the capital is located in the class A office building Crystal Tower and covers a total of 1,000 sqm. The company said it worked with designer Alina Stoian, founder of 2Deco Studio, for the new headquarters.

Moreover, Twispay said it aims to end the year with more than 50 employees, double compared to the end of 2021.

“Twispay started as a disruptor of the regional fintech industry, a start-up founded in Romania, which set out to revolutionize the way money circulates in the world. The fact that, in 5 years, we have gone from a few employees to a team of almost 40 professionals, is a sign of maturation both for our company and the local fintech market. We continue this growth and aim to end 2022 with over 50 employees, working both in the office and remotely,” said Augustin Dobre, CEO of Twispay.

In the same statement, the company quoted official figures showing that fintech is a growing industry in Romania. According to studies by the Romanian Association for Entrepreneurship and Technology, the pandemic has accelerated the growth of the fintech sector in Romania, in line with the development of online commerce. Compared to other start-ups, financial technology companies currently stand out as the largest employers, providing 35.2% of existing jobs in early-stage technology companies.

According to estimates by Statista, digital payments will become the largest segment of the national fintech industry at the end of 2022, with a total transaction value exceeding USD 8.99 billion. Moreover, the number of users making digital payments is estimated to increase to 11.5 million by the end of 2027.

In addition, Twispay also named the large number of internet connections and the fast internet speeds as another factor that has turned the fintech area into one of the fastest growing sectors.

“All these, combined with the high level of expertise of Romanian developers, have made our country an attraction for regional investment funds and a good partner for companies with an international presence. Romania is no longer just the place for outsourcing IT operations. We are starting to position ourselves as a regionally relevant incubator,” said Augustin Dobre.

Part of the Elrond network, Capital Financial Services, which operates under the Twispay brand, is an electronic money issuing institution, the first of its kind licensed in 2013 by the National Bank of Romania. It provides electronic currency issuance and payment processing services for online transactions via VISA, Mastercard or other alternative payment methods.