Rising demand for mobile payment protect is triggering huge growth at tech start-up Omlis, which is poised to treble in size in 2015.
The mobile payments security experts, based on Newcastle Quayside, have secured contracts worth more than £20m over the next five years which is set to see recruitment take place, taking headcount to more than 120 by the end of the year.
The firm, founded by Markus Milsted, said the contracted revenues were secured in its first year of trading, which got under way in February 2014, through partner and client opportunities across Europe, South America, the Middle East and Africa.
The firm focuses on mobile transaction security, through a unique encryption solution which means businesses can deliver convenient and secure mobile payment transactions for customers.
And since setting up through private investment, demand for such security has seen the firm grow from a team of two to 43 employees.
Mr Milsted, founder and chief executive officer, said: “It’s hard to believe that the company has expanded so quickly.
“Our chief commercial officer John Stuart previously shaped the commercial strategies for world class organizations including S1 and Verifone, securing orders in excess of $350m (£294m) in competitive global markets. The Omlis team is growing and the talent is immense.”
Newcastle-born Mr Milsted was given the opportunity to set up operations in other UK regions but he said he decided to base all the firm’s operations in the centre of his home town.
He attributed the firm’s growth to the continuous and rapid increase of global payment fraud issues which has followed the mass adoption of mobile solutions by convenience driven consumers.
He added: “The North East has a very vibrant and dynamic tech scene and Omlis leads the way in mobile payments innovation in the region.
“Omlis has recruited highly skilled, world-class talent, creating over 30 jobs in the region within its first year, and is on target to almost triple the headcount in 2015.”