BENGALURU: The pace at which European companies are setting up and expanding technology centers in India is accelerating, driven by the need to digitize traditional firms and the rise in unicorns.
This trend is already fueling the flames of the hot tech talent market as well.
UK bank Oak North said it has made over 120 offers since January this year, and is looking to fill another 100 roles at its locations in Gurugram, Bengaluru and its recently opened site in Hyderabad.
The SoftBank-backed bank has raised $1 billion in funding and is valued at $2.8 billion.
Ashish Nayyar, Co-Head – India at oak north, said that as a scaling fintech, India has always been a major market for talent. He added that the bank employs a large number of top talent in engineering, credit analytics, data science, machine learning and AI segments across its Indian offices.
UK based fintech Revolution There are plans to invest £25 million in India over the next five years and create 300 new jobs.
Earlier this year, Nik Storonsky, CEO and founder of Revolut, said that India is a key market for the company’s expansion strategy, with a huge supply of talent. Revolut has raised $1.7 billion in funding and is valued at $33 billion.
A Revolut India spokesperson told TOI that the company is setting up its payments arm in India, for which it is hiring a variety of talent, including business development.
“In addition, we are in the process of setting up our first decentralized engineering and product center in India, where we are offering challenging roles to world-class developers and product managers in India,” he said.
Lalit Ahuja, founder and CEO of ANSR, a Bengaluru-based firm that helped set up and operate Global Competence Centers (GCCs) in India, said Europe has ushered in a big deal for GCC, with the firm recently getting a meeting in London. encouraged to set up an office. .
“The pandemic has been a big influence and much of it is driven by the fact that anything can be done from anywhere. The pandemic has disrupted offline business and every business is ramping up its digital capabilities. Europe was lagging behind in the GCC area. We used to have 3-4 talks a year, but now it has increased to 25. European unicorns are coming to India in search of talent in a big way. We are seeing a lot of action from banking and financial services firms, retailers, CPG (consumer packaged goods) and automakers.”
European startup chronicler Sifted says there are now 70 unicorns in the region. These deep-pocketed companies need a lot of technical talent, and not enough is available within the sector.
Oak North’s Nayyar said they are offering attractive compensation that includes performance-based bonuses and stock compensation. He said the Indian team has played a key role in the company’s flagship On Credit Intelligence suite that provides instant credit analysis for commercial lending, including real-time portfolio insights.
This trend is already fueling the flames of the hot tech talent market as well.
UK bank Oak North said it has made over 120 offers since January this year, and is looking to fill another 100 roles at its locations in Gurugram, Bengaluru and its recently opened site in Hyderabad.
The SoftBank-backed bank has raised $1 billion in funding and is valued at $2.8 billion.
Ashish Nayyar, Co-Head – India at oak north, said that as a scaling fintech, India has always been a major market for talent. He added that the bank employs a large number of top talent in engineering, credit analytics, data science, machine learning and AI segments across its Indian offices.
UK based fintech Revolution There are plans to invest £25 million in India over the next five years and create 300 new jobs.
Earlier this year, Nik Storonsky, CEO and founder of Revolut, said that India is a key market for the company’s expansion strategy, with a huge supply of talent. Revolut has raised $1.7 billion in funding and is valued at $33 billion.
A Revolut India spokesperson told TOI that the company is setting up its payments arm in India, for which it is hiring a variety of talent, including business development.
“In addition, we are in the process of setting up our first decentralized engineering and product center in India, where we are offering challenging roles to world-class developers and product managers in India,” he said.
Lalit Ahuja, founder and CEO of ANSR, a Bengaluru-based firm that helped set up and operate Global Competence Centers (GCCs) in India, said Europe has ushered in a big deal for GCC, with the firm recently getting a meeting in London. encouraged to set up an office. .
“The pandemic has been a big influence and much of it is driven by the fact that anything can be done from anywhere. The pandemic has disrupted offline business and every business is ramping up its digital capabilities. Europe was lagging behind in the GCC area. We used to have 3-4 talks a year, but now it has increased to 25. European unicorns are coming to India in search of talent in a big way. We are seeing a lot of action from banking and financial services firms, retailers, CPG (consumer packaged goods) and automakers.”
European startup chronicler Sifted says there are now 70 unicorns in the region. These deep-pocketed companies need a lot of technical talent, and not enough is available within the sector.
Oak North’s Nayyar said they are offering attractive compensation that includes performance-based bonuses and stock compensation. He said the Indian team has played a key role in the company’s flagship On Credit Intelligence suite that provides instant credit analysis for commercial lending, including real-time portfolio insights.
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