Immedis, a specialist provider of enterprise technology solutions for global payroll and mobility tax services to multinationals, has secured €25m in strategic investment from Scottish Equity Partners (SEP).
SEP is a venture capital and growth equity firm backed by blue chip international investors including the Ireland Strategic Investment Fund.
Immedis is part of Terry Clune’s global financial technology company Taxback Group.
It owes its growth to its global payroll technology solution, iConnect, which has impacted the global payroll market due to its use of robotic process automation, AI and data visualisation.
Clients include Uber, Wayfair, First Derivatives, NYIT, and DCC.
This investment will enable Immedis to expand further into growing markets across the US, EMEA and APAC.
Chairman Clune said: ‘Immedis has a proven track record of delivering global payroll for some of the world’s biggest companies through our innovative technology solution. I am delighted to welcome SEP as part of our organisation to continue the enormous success of Immedis on a global scale’.
Over the past 24 months the company has grown from 10 employees in 2016 to over 170 people today. The company has ambitious plans to increase headcount further, with over 200 new roles planned over the next 18 months, making it one of the most rapidly scaling indigenous companies in Ireland’s financial technology sector.