A fast-growing financial technology firm with offices in London and New York has opened a new base in Newcastle.
Singletrack is a leading capital markets CRM and research distribution platform. Headquartered in London and with a US office in New York, Singletrack’s technology is used by investment banks and brokers around the world.
Hoults Yard will be the base for the initial team of four who will provide the company’s dedicated technology support operation. Further growth of the team is planned which will enable Singletrack to continue its expansion in the US and Asia.
Paul Dyson, Chief Technical Officer at Singletrack, said: “Newcastle has thriving financial and tech sectors, it gave us great confidence that there is a wealth of customer and IT support experience in the region. We hope to add to the team quickly and given our growth in the last three years, a team of 10-15 in Newcastle by 2022 is achievable.
“The support of Invest Newcastle was invaluable during our expansion into Newcastle. There was a great range of office types and locations available, and we found a number of quality candidates looking for new roles.”
Inward investment agency Invest Newcastle supported Singletrack’s move to the city. The team developed a business case for Singletrack’s expansion, assisted with locating an office and made introductions to recruitment agencies and local networks.
Ciara Slack, Senior Investment Manager at Invest Newcastle, added: “It’s great to be able to welcome an international company like Singletrack to Newcastle. The Singletrack team was impressed with positive case studies and feedback from those already established in Newcastle and we’re looking forward to watching them grow here.
“Singletrack joins Newcastle’s growing fintech sector, which already includes well-known names such as True Potential, XE.com, Kani Payments and WorldPay. The North East currently has an estimated workforce of 53,000 in the financial services and technology sectors, and it is an area that will continue to grow.”
Cllr Ged Bell, Cabinet Member for Employment and Culture, Newcastle City Council said: “We are really proud of the north east’s growing fintech cluster, with more and more businesses choosing our city as a place to locate and grow. This move from Singletrack is further validation of the confidence the sector has in our city, seeing the opportunities for growth and bringing more skilled jobs to our region.”