How Fenergo turned a crisis into an opportunity Fintech founded amid financial crash has gone on to become a serious player in the sector about an hour ago
In 2008, Marc Murphy set up Irish fintech Fenergo with the intention of targeting financial institutions as customers. Just weeks later Lehman Brothers collapsed, prompting a meltdown in global financial markets. Murphy had just remortgaged his home, convinced his father to do the same, and talked his uncle and others into throwing some cash into his new enterprise. More than a decade on, their faith in Murphy’s business idea is being repaid. “We’re in a good place right now,” says Murphy, speaking from his office in Clontarf via Zoom. “But it wasn’t always the case,” he adds, sitting back and laughing.