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December 4, 2022
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Twispay announces a new headquarters in Bucharest and aims to double the number of employees compared to 2021

Financial institution Capital Financial Services S.A., which operates under the Twispay brand, announces the move to a new headquarters in Bucharest, in the class A office building Crystal Tower, located on Iancu de Hunedoara boulevard. The space, over 1,000 usable square meters space has been designed to reflect the vision and innovative spirit of the fintech company, which is part of the Elrond Network.

Designed together with the designer Alina Stoian, founder of 2Deco Studio, the current Twispay headquarters provides employees with personalized offices, in line with the collaboration and security needs of the various departments. Thus, the offices benefit from common areas, set up for development teams, private spaces, meeting rooms, as well as areas with limited access, created for compliance professionals.

The dynamism of the interior is enhanced by the play of light, LED inserts and the combination of glass and wood elements. The main attraction of the design is the games and relaxation area, designed to contribute to the well-being of employees, to increase their productivity and creativity. It continues naturally with the dining area, which is set apart by its warmth and the mix of vivid colors, in the spirit of the brand.

“Twispay started as a disruptor of the regional fintech industry, a start-up founded in Romania, which set out to revolutionize the way money circulates in the world. The fact that, in 5 years, we have gone from a few employees to a team of almost 40 professionals is a sign of maturation both for our company and for the local fintech market. We continue this growth and aim to end 2022, with over 50 employees, working both in the office in Bucharest and remotely,” said Augustin Dobre, CEO of Twispay.

Fintech, a growing industry in Romania

 

As studies by the Romanian Association for Entrepreneurship and Technology show, the pandemic has accelerated the growth of the fintech sector in Romania, in line with the development of online commerce. Currently, compared to other startups, financial technology companies stand out as the largest employers, providing 35.2% of the existing jobs in technology companies, at the beginning of the road.

At the end of 2022, the largest segment of the national fintech industry will be digital payments, with a total transaction value that will exceed $8.99 billion, according to estimates by Statista, the German market research company. Moreover, the number of users making digital payments will increase to 11.15 million by the end of 2027, the same source mentions.

The German company’s report estimates that, in Romania, the non-banking segment will also develop in the next period, as it will grow by more than 43% in 2023 compared to 2022, while the average annual transactions per user will exceed 16,730 dollars, at the end of this year.

The fintech sector contributes significantly to Romania’s gross domestic product, but also to increasing the population’s access to financial services. The fact that our country benefits from  over 27 million Internet connections, a penetration rate of almost 97% of the use of smart phone devices, among the population segment aged 16 to 64, that has Internet access, and one of the best internet speeds in Europe has turned the fintech area into one of the fastest growing sectors.

“All these, combined with the high level of expertise of Romanian developers, have made our country an attraction for regional investment funds and a good partner for companies with an international presence. Romania is no longer just the place for outsourcing IT operations. We are starting to position ourselves as a regionally relevant incubator,” said Augustin Dobre, CEO of Twispay.

 

About Twispay

 

Part of the Elrond network, Capital Financial Services, which operates under the Twispay brand, is an electronic money issuing institution, the first of its kind licensed in 2013 by the National Bank of Romania. The company provides electronic currency issuance and payment processing services for online transactions via VISA, Mastercard or other alternative payment methods.

Twispay’s clients include Fit4You Delivery, AVStore and Colete Online.

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