Fintech software company Lightyear is investing £1m in its business and doubling its Belfast workforce, with financial support provided by Invest NI.
Lightyear offers cloud-based procurement and invoice processing automation software to SMEs and mid-market companies across the world. Its Software-as-a-Service (SaaS) product is designed to increase workplace efficiencies and team collaboration through data extraction and customisable workflows for businesses.
The company has said that it will create 12 jobs in Belfast as it aims to grow in global export markets.
Founder and chief executive Chris Gregg said: “We have identified new opportunities in the education, retail and fuel distribution industries in Great Britain, Republic of Ireland, Australia and New Zealand, and have signed strategic partnerships with key accounting software providers that specialise in these industries.
“The 12 new roles will expand the capability of our team so that we can capitalise on these new sectors and start to break into new international markets such as the US. We have started recruiting and are already impressed with the high level of talent we have been able to add to the team.”
Invest Northern Ireland helped to secure Lightyear’s initial investment in Northern Ireland in March 2018 and has since offered support towards job creation, R&D and technical product support to develop its software product and trade assistance. This latest offer provides £90,000 towards the creation of the new jobs.
Susan O’Kane, Invest NI’s eastern regional manager, said: “Throughout the pandemic, investing in digital technology has been important for companies to remain resilient. Developed with Invest NI’s R&D support, Lightyear’s intelligent software has been met with great success, helping companies transition to remote workforces by delivering a paperless office, eliminating data entry and automating complex invoice approvals processes.
“This strategic reinvestment is a great endorsement of Lightyear’s experience in Northern Ireland so far and as we rebuild our economy, is a welcome boost for our Fintech sector. Once in place, the jobs will contribute almost half a million pounds in additional annual salaries to our local economy.”
Invest NI’s R&D support is part financed by the European Regional Development Fund.