The cross-border payment platform for businesses is building on its Asia Pacific presence by establishing a foothold in Europe.
Based in Edinburgh, TranSwap will create 54 jobs over the next three years, including Machine Learning Engineers and Full-Stack Developers roles to support their market expansion and R&D plans, it said in a statement on Wednesday.
The company will also open a global R&D centre at the University of Edinburgh to create a talent pipeline for local graduates and post-graduates to enter the fintech market, the statement said.
Spearheading TranSwap's efforts in the region is Grant Mackenzie, who joined the company in May 2020 as U.K. director and country head, following stints at Pay.UK, HSBC, Metro Bank, Halifax, Sainsbury's Bank, Lloyd's and RBS.
Important Market
TranSwap called the U.K. a «pivotal market» to accelerate the firm's next phase of expansion. «U.K. has been on the cards for years as it is one of the world’s leading financial centers and remains a source of global economic development,» Benjamin Wong, co-founder and CEO of TranSwap, said.
Established in 2017, TranSwap has offices in Singapore, Hong Kong, Malaysia, Vietnam and Indonesia. Among its investors are Quest Ventures and the AMTD ASEAN Solidarity Fund. According to the company, its gross transaction value increased by 100% in 2020 from the year before.
