Fenergo reduced losses in 2021 but recruitment issues pose central business risk

The homegrown software company recorded a deficit of €98.9 million in the year up to March 2021

Though the fintech and regtech firm increased turnover in the most recent financial year, its total deficit in equity still comes close to €100 million, which it attributed largely to the continued effects of a 2019 share buyback scheme. Picture: Getty

Fenergo , the Irish-founded fintech, said that difficulties associated with recruiting tech talent and paying their salaries are among the principle risks to its business, prompting it to embrace hybrid working so that it can hire people based outside of its Dublin headquarters.

In a financial statement for the year to 31 March 2021, the company noted that one of the key business risks relates to its ability to acquire and “retain the necessary expertise ...