Bengaluru: The rate in which European companies build and expand technology centers in India is increasing, driven by the needs of traditional companies to digitize, and a unicorn surge.
This trend also fan the fire from the hot technology talent market.
Bank UK Oak North said it had made more than 120 this year’s offer since January, and was looking to fill 100 other roles at the location in Gurugram, Bengaluru and the newly opened sites in Hyderabad.
Banks supported by Softbank have raised $ 1 billion and worth $ 2.8 billion.
Ashish Nayyar, Co-Head – India in Oaknorth, said as Fintech’s scale, India has always been the main market for talent.
He said the bank employed a large number of main talents in engineering, credit analysis, data science, engine learning, and AI segments throughout the Indian office.
The England-based Revolut Fintech plans to invest 25 million pounds in India for the next five years and plan to make 300 new jobs.
Previously, this year, Nik Storonsky, CEO and founder in Revolut, said India was the core market for the company’s expansion strategy with enormous talent supplies.
Revolut has raised $ 1.7 billion and worth $ 33 billion.
The Indian Revolut spokesman told TII that the company was preparing its payment entity in India which sparked various talents, including business development.
“Apart from this, we are in the process of establishing our first decentralization engineering and product hubs in India, where we offer a challenging role to developers and world-class product managers in India,” he said.
LALLAL AHUJA, Founder and CEO of ANSR, a Bengaluru-based company that helped establish and operate the global capabilities (GCC) center in India, said Europe had opened a large road to the GCC, encouraged the company to establish an office in London recently.
“Pandemics have become a big influencer and many are driven by the fact that every work can be done from anywhere.
Pandemic has disrupted the offline business and every business is speeding up the ability of the digital.
Europe is a slung in the GCC room.
We used to have 3-4 conversations in a year , but now it has increased to 25.
Unicorn Europe with a bag in coming to India looking for talent on a scale.
We witnessed a lot of actions from banking companies & financial services, retailers, CPG (with nsumer package items), and car makers, “he said.
European Startup Chronicler Sifted said this area has 70 Unicorns now.
These wallet companies need a lot of technology talent, and are not enough available in the region.
Oak North’s Nayyar said they offer interesting compensation which includes performance-based bonuses and stock compensation.
The Indian team, he said, has played an important role in the superior company about Credit Intelligence Suite which provides instant credit analysis for commercial loans including real-time portfolio insights.