Paysend, the global FinTech with 7 million customers, today announced that it has opened its new European Technology Center in Belgrade, Serbia. The new technology hub will focus on software and product development and embraces Serbia’s reputation as Europe’s next technology hotspot, with a growing community of established brands, venture capital firms and FinTech startups being drawn to the country to take advantage of its convenient location and domestically-grown, internationally acclaimed technology talent pool.

The technology sector has become a critical part of the social and economic fabric of Serbia and will be crucial to the country’s ongoing development and economic growth. Openness to innovation, willingness to adopt new ideas, and the prioritization of digital transformation have been foundational pillars for the current Government of the Republic of Serbia, with Prime Minister Ana Brnabić taking an active role in building close relationships with the IT industry, start-ups and entrepreneurial companies in Serbia.

Her Excellency Ms. Ana Brnabić, Prime Minister of the Republic of Serbia, said: “Digitalization and the fourth industrial revolution has provided a unique opportunity for Serbia and its citizens to leapfrog other countries, particularly in the fields of technology, innovation, foreign direct investment and R&D. Serbia’s ability to attract leading technology and FinTech companies, like Paysend, is evidence of the strategic investments we have made in recent years to develop and strengthen the technology and startup ecosystems in Serbia.”

In addition to a committed government and political stability to support digital transformation Serbia has excellent talent from world-recognized universities and prestigious tech multinationals, a strategic location able to simultaneously support European, American, and Asian operations, and an undersaturated market for technology development with room for growth.