European best destinations 2024 - Riga

Fintech company GoCardless chooses Riga for its largest business center in the EU

On April 10, global banking payment company GoCardless will open the doors to its business center in the new Class A office building Novira Plaza, located in the heart of Riga at Marijas Iela 2a. The company is expected to employ between 200 and 300 people in its flexible working arrangements. GoCardless provides banking payment services to more than 85,000 businesses, processing payments worth USD 35 billion annually.

The new business center in Riga will play an important role in the company's growth, developing it into its second head office after London. In July 2022, GoCardless acquired the Latvian financial start-up Nordigen, opening the opportunity to develop the business center in Riga and expand its open banking product offering. GoCardless provides the broadest coverage in Europe, connecting more than 2,300 banks in 31 countries. The company is headquartered in the UK and has additional offices in Australia, France and the US.

"Riga is attracting more and more global business service centers. Their location in the city promotes growth and competitiveness in research and smart technology development. Such high quality services improve the local business environment and promote business efficiency. This is also evidenced by Riga's top recognition in the prestigious CEE Business Service Awards 2024 as the most dynamically growing city of the year," said Riga Mayor Vilnis Ķirsis.

Riga solidly progressing as a business and investment hub

Ahmed Badr, Chief Operating Officer at GoCardless: "The acquisition of Nordigen in 2022 was a significant milestone for GoCardless. I am extremely proud of the contribution our Riga team has made to the company and how it brings us closer to our vision of becoming a global bank payments network. As we continue to grow, we want to attract talented employees and our new office at Novira Plaza perfectly reflects our desire to be one of the leading fintech companies in Latvia."

The global business services sector in Latvia is experiencing rapid growth, with Riga confidently emerging as a new European hub. The Latvian capital offers competitive conditions and a favorable business environment for new investors, attracting so far 54 business service centers employing around 18,200 people, with an average of 340 full-time jobs per company. The main areas of specialization in the global business services sector are IT, finance, customer service, logistics, HR and procurement.

Riga is chosen for its infrastructure, connectivity and sustainable offices

The Riga city center area provides a well-developed transport infrastructure, including easy access to important resources and services. Meanwhile, the majority of new projects and Grade A offices under development are certified according to sustainable building standards such as BREEAM* and LEED*, contributing to the city's sustainable development.

*BREEAM (British Research Establishment Environmental Assessment Method) is the world's most widely used method for assessing and certifying sustainably constructed buildings.

*LEED (Leadership in Energy and Environmental Design) is a certification program for green properties that aims to reduce the environmental impact of construction and use of buildings. LEED certified buildings are resource efficient. They use less water and energy and reduce greenhouse gas emissions.

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