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Population
5.2M
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Online population
5M
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Currency
EUR
Population - 5.2M
At the start of 2024, 64.6% of Ireland’s population lived in urban centres, while 35.4% lived in rural areas.
Internet penetration - 99%
There were 5M internet users in Ireland at the start of 2024,
With over 400 FinTech companies and a workforce exceeding 10K, Ireland is well on its way to becoming a global FinTech powerhouse. The legal framework, characterized by a ‘Common Law’ structure similar to the UK, alongside the availability of quality talents, positions Ireland as a global leader in FinTech innovation.
In the first quarter of 2024, the Irish FinTech sector experienced a significant downturn in both deal activity and fundraising. There were only three deals made during this period, which represents a 66% decline compared to the first quarter of 2023. Additionally, the total capital raised by Irish FinTech companies amounted to $7m, marking a 77% reduction from the funds secured in the same quarter the previous year. This substantial decrease highlights a cooling in investment enthusiasm within the Irish FinTech landscape.
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Action Plan 2024 There are 13 measures detailed in Irish government's Action Plan 2024. One of these measures is the assessment of a the proposal for the establishment of a national FinTech hub. The Action Plan 2024 was published on 8 March 2024 as part of the Update to Ireland for Finance. Ireland for Finance is the strategy for the development of Ireland’s international financial services sector, extended to 2026. The Action Plan for 2024 puts a spotlight on Sustainable Finance.
FinTech Hubs foster innovation and help fintech companies with their speed to market and capacity to scale. This is a huge opportunity forIreland given our position as a leading tech centre in Europe, as well as a centre for finance and this represents a significant opportunity to support and bolster Ireland’s innovators and entrepreneurs.
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There are 53 credit institutions operating in Ireland, of which 21 hold a credit institution license authorized in Ireland, 30 are branches licensed in other EEA countries and 2 are branches in a non-EEA country. Many of these banks are international banks with operations in Ireland.