United Fintech has opened a developer hub in Madrid to focus on a range of innovative products and client projects within the capital markets sector.
Based in the same building as one of its portfolio companies, Athena Systems, the new office will be managed by Erik Nordahl, chief technology officer at United Fintech. Nordahl is relocating to Madrid to oversee key development projects and the growth of United Fintech’s team of developers.
The developers in United Fintech’s Madrid office will supplement the technology teams within United Fintech’s portfolio companies — Athena Systems, FairXchange, NetDania and TTMzero.
Christian Frahm (pictured), CEO at United Fintech, says: “Sourcing technology skills in the current climate is extremely challenging. There is a fight for technical talent, which has been exacerbated by the Russia/Ukraine situation.
“With many of our clients increasingly questioning Eastern Europe as a resource hub for development, we have been reviewing alternative options to access the very best talent in the industry. We see great potential in leveraging Athena’s already established brand and network within the top talent IT community over the past 15 years."
Erik Nordahl, CTO at United Fintech adds: “Our expansion in Madrid is a great strategic move, enabling us to continue to access top technology talent for our own initiatives, client projects, and to help scale our portfolio companies.
“The impact of our global sales force is resulting in increased activity for our portfolio companies and the need for additional resources. If they struggle to recruit developers in their respective locations — London, Berlin and Copenhagen — we can now source developers for them in Madrid.”
