Irishman launches €1m fund to help new innovators

A Co Meath man who left school at 17 and started his first business at his kitchen table has launched a €1 million innovation fund to invest in the next generation of home-grown entrepreneurs.

UK-based Noel Moran and his wife Valerie are behind the money pot which aims to find innovative new technology solutions in the FinTech (Financial Technology) industry.

Their company, Prepaid Financial Solutions Ltd. (PFS), is one of the fastest growing e-money institutions in Europe and employs 175 people across four locations.

Last year it processed just under €1 billion and is one of the largest issuers of Mastercard prepaid cards throughout Europe. Recently it created 28 jobs at the Innovation Centre in Noel’s native hometown of Navan, Co Meath.

The fund also provides for ideas from post-primary business students with a school prize of €10,000 worth of IT equipment and an iPhone 8 for each winning team member.

“We’re seeking technology-driven solutions which will complement the services currently provided by Prepaid Financial Services,” noted, Noel Moran, chief executive officer of PFS.

“Some of these areas include open banking, prepaid cards and e-wallet solutions, face recognition and biometrics, Blockchain payment solutions and fraud, as well as AI and data intelligence.

“We’ve set aside up to €1m to invest in new technology and solutions that will enhance our existing offerings and we would like to start by giving our local community a chance to be a part of this new innovative department. We can help turn your ideas into reality and we can provide mentoring along the way.”

More information on the fund can be obtained at prepaidfinancialservices.com

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