From 32 desks to 259: How CoLab at ATU fuelled FinTrU's rapid growth in Donegal

In just two years, FinTrU has gone from a modest office space in CoLab at Atlantic Technological University (ATU) Letterkenny to a cutting-edge, 21,000-square-foot premises with 259 desks.

This rapid expansion highlights not only the company’s ambitious growth trajectory but also the pivotal role that CoLab and ATU played in helping FinTrU establish and scale its operations in the Northwest region.

FinTrU first arrived at CoLab in August 2022 with just 12 desks in a single room. Within months, the company had expanded to 32 desks, a testament to the dynamic environment fostered within CoLab. The innovation centre provided more than just office space – it created a network of like-minded businesses and entrepreneurs that helped FinTrU flourish in a collaborative and fast-paced setting.

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“CoLab at ATU has been essential to our growth,” said Sylvester Clancy, Site Lead FinTrU Ireland and Alumnus of ATU. “It’s not just about the physical space; it’s the networking opportunities, access to top-tier talent, and the innovative culture that’s been built here. That combination allowed us to expand quickly and integrate into the local business ecosystem.”

The strong connection with ATU was instrumental in FinTrU’s rapid rise in Donegal. Of the company’s early career recruits this year, 75% were ATU graduates, reflecting the university’s role in providing a pipeline of talent that met the demands of a growing fintech company. CoLab's close proximity to ATU also enabled FinTrU to forge partnerships that went beyond recruitment, including collaborations with academic staff on curriculum development and work placements for students, ensuring they were well-prepared for the workforce.

Patsy Donaghy, CoLab Centre Manager added, "The CoLab ecosystem is designed to promote growth and innovation. Housing over 60 businesses, the centre serves as more than just an office space; it’s a hub where entrepreneurs, start-ups, and established companies can exchange ideas, mentor one another, and collaborate on projects. This environment allowed FinTrU to gain crucial early momentum and establish a firm landing pad to expand its business in the Republic of Ireland."

"Working within CoLab allowed us to leverage the resources and knowledge of other businesses, and it was this culture of support and networking that helped us grow from 12 desks to needing 259 in just two years,” added Clancy. “It’s a place that encourages growth and fosters innovation. It has helped us to create a foundation which our employees can build a long-term career upon as we look to the future."

As FinTrU’s footprint expanded, so too did its impact on the local economy and the opportunities it created for professionals in the Northwest. The company's ability to offer global careers while staying rooted in Letterkenny has drawn in talent both locally and internationally and boosted the region’s reputation as a growing fintech hub.

FinTrU’s recent move to its new 21,000-square-foot premises at Windyhall, last month, marked a major milestone in its growth. The facility boasts cutting-edge technology, collaboration spaces, and dedicated areas for training – a far cry from the small office the company occupied at CoLab just two years prior. The new building not only accommodates the 100 staff members FinTrU has recently added but provides ample room for future growth.

John Andy Bonar, Vice President of Research, Equality and External Affairs said, "The relationship between FinTrU and ATU is an example of how a university-driven innovation hub like CoLab can support the development of a global company. ATU’s emphasis on being industry-led, combined with its strong pipeline of graduates, positioned CoLab as an ideal landing pad for FinTrU’s expansion into the Republic of Ireland. ATU’s continuous effort to equip students with the skills necessary for the modern workforce has provided companies like FinTrU with a steady stream of capable and ready graduates."

The expansion of FinTrU from its beginnings in CoLab to its new state-of-the-art headquarters is not just a success story for the company, but a reflection of the strength of the CoLab and ATU partnership. Together, they have helped position the Northwest as a region capable of attracting and sustaining global businesses while nurturing local talent and fostering innovation.

As FinTrU looks to the future, its continued success in Letterkenny will serve as a model for other companies seeking to scale quickly in a supportive, entrepreneurial environment. For the region, it demonstrates that with the right infrastructure, partnerships, and talent, the Northwest can continue to thrive on both a local and global scale.