Firm gets €900k early-stage funding

Irish-based fraud management firm Xintec has secured €900,000 in funding from Kernel Capital through the Bank of Ireland Seed and Early Stage Equity Fund.

Xintec was founded in Luxembourg, but moved back to Ireland in 2011 to take advantage of the growing start-up culture here.

Xintec founder Sean Killeen said Luxembourg was very risk averse, compared with the start-up scene in Ireland. “I think overall a sense that to benefit from the high level of start-up support and funding for start-ups in Ireland. Ireland has a stronger entrepreneurial culture. Not to put Luxembourg down, but risk taking is a big no no there.”