Xintec Raises 900k Euros

Xintec, the Dublin-based vendor of RA solutions, has raised EUR900k in finance; see the press release here. EUR350k comes from the Bank of Ireland Seed Fund, with the remainder coming from Enterprise Ireland (a government agency) and from private investors engaged in the Business Expansion Scheme (a mechanism to give tax relief to investors).

Xintec is an early stage start-up, founded in Luxembourg in 2007 by an Irish entrepreneur, Sean Killeen. The firm relocated to Ireland in 2011 after being offered support by Enterprise Ireland. Xintec’s strategy is to focus on selling RA and FMS solutions to smaller CSPs who have traditionally been underserved by vendors. According to RTE News, Xintec currently employs 8 people in Dublin and is planning to create 15 jobs by the end of 2013. The money will reportedly be used to drive growth in international markets through the recruitment of technical and marketing staff.

Eric Priezkalns
Eric Priezkalns
Eric is the Editor of Commsrisk. Look here for more about the history of Commsrisk and the role played by Eric.

Eric is also the Chief Executive of the Risk & Assurance Group (RAG), a global association of professionals working in risk management and business assurance for communications providers.

Previously Eric was Director of Risk Management for Qatar Telecom and he has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and other telcos. He was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.