Fintech start-up QPS has cleared a blueprint for expansion in the European continent by launching its services in the United Kingdom. The company has announced to invest £10 million in the UK market, a move that is likely to create 100 new jobs, including several high skilled positions in the tech and fintech industry.
“The United Kingdom is one of the fastest-growing fintech markets in the world and is ideal for QPS to showcase its technological prowess. We truly believe that technology could be the defining factor that would enable us to capture 20% of the card-issuing market within the first two years. We are also looking at clocking up revenues to the tune of £100 million in the next three years by targeting the overall BFS industry of The United Kingdom,” QPS founder and CEO, Vinay Kalantri said.
QPS is one of the top B2B service providers offering a fully managed card issuance and processing platform, which is integrated with the banks as well as payment servers.
“We are the latest entrant in this highly competitive and fast-growing ecosystem and have managed to scale our operations by purely focusing on technology disruption. We believe in innovating our technology-based solutions as per the actual needs of the users, rather than developing solutions on the existing technology,” Kalantri said in a statement.
According to Kalantri, the UK is one of the fastest-growing fintech markets in the world and is ideal for QPS to showcase its technological prowess.
The Mumbai-based company Incorporated in February 2019, has also a back-office stationed in Chennai. It has a team of 20 members based in India and one member based out of Dubai.