Synthesis Opens First European Office in the Netherlands
South African tech innovator is focusing on Dutch and European fintech market
The South African tech innovator Synthesis has opened offices in Amsterdam, the Netherlands. It is the company’s first office in Europe and is part of the Synthesis’ strategy to expand its services to Europe.
Synthesis is a software development and consulting company that provides solutions based on emerging technologies. It specializes in cloud computing, digital and emerging technology, intelligent data managed services, regulatory technology and payments. The company’s customers include banking and financial institutions, retail; and media and telecommunications.
In 2020, Synthesis became the first Tap on Phone solution provider in Africa when it launched Halo Dot with Nedbank. Halo Dot provides a new way to accept contactless payments with and without a pin and is accepted by several large international payment companies.
Covid-19 spurred cloud, digital and data skills
As a result of Covid-19 and the subsequent move to remote working, Synthesis was no longer constrained by country borders and could focus on cloud, digital and data skills. Due to the universal demand for these skills, Synthesis was successfully able to deliver high-impact solutions to customers in Europe.
Now, with a physical office in Amsterdam, Synthesis is even better positioned in the fast-growing finance and fintech sector in the Netherlands. Moreover, it becomes part of the cutting-edge Dutch IT & tech ecosystem, with world-leading connectivity and talent.
Support from NFIA
In the Netherlands, Synthesis’ activities will initially focus on marketing and sales. The company was assisted in its location search by the Netherlands Foreign Investment Agency (NFIA) and its local South Africa office.
‘The NFIA and Mark Reijneker in South Africa specifically, have been instrumental in our planning and execution of our Netherlands expansion – assisting and providing guidance for every step of this long and complex process,’ said Tom Wells, Synthesis Chief Disruption Officer.
When asked what advice he would give to other companies wanting to expand, Wells stated, ‘Make use of experts! The process is complex, time consuming and it’s easy to make mistakes, however we have experienced amazing support from local Dutch service providers from a legal, tax, employment, statutory and corporate perspective. This has meant that we can continue to focus on our operational activities, defining the opportunities and structures to support the future European business, while we have relied on local expertise to get the operating vehicle in order.’
Source: Synthesis and NFIA South Africa
21 September 2021