Valerie Moran, head of operations, Ecomm Merchant Solutions
I听was born in Zimbabwe to a family of听five听children.听My听mother was a听beautician听and听my听father ran several businesses simultaneously: a听butcher鈥檚, bakery, school uniform factory and property investments.听听
When I was growing up, he听worked extremely hard听– and听this work听ethic听passed to me.听My mother also pressed upon me the importance of education in achieving independence and success, and听I听went on to听study听programming and became a systems analyst.听
I wanted to set up a business in my native Zimbabwe, but market conditions in the country weren’t ideal, so I moved to the UK.听When I met my husband Noel, I saw the potential in his idea [of prepaid credit cards]. I believed in his idea so much, I quit a good job to join him.听
We didn’t have capital at the start听and ran the business from a kitchen table. We were super–stretched and doing several jobs each, and听only recruited staff as we needed them.听听
Listen to Valerie and Noel explaining their journey from bootstrapping to a bumper payday on the FastForward podcast (below)
Thankfully, the business听enjoyed 12 years of consecutive growth and this led to听our听HQ on Regent Street and offices in Wilmslow, Ireland and Malta.听Then late last year we were taken over by听EML Payments [in a 拢281 million deal], which saw us listed on the听Australian stock exchange.听听
When we started out, we knew at some point we would sell the business. However, it was not about just selling the business to anyone. It was about finding the right business that would bring us to be a listed company, have shared synergies and one that would bring PFS to new markets that our licence could not tap into.听听
The team’s mindset is to constantly provide innovative solutions which are best fit the ever-changing and fast-paced FinTech space and pioneer into new markets: the听company听today听also听provides e-wallets and digital banking software.听听
PFS is constantly improving and being innovative with its technology to remain at the forefront of contactless, mobile payments, wearables and 24/7 real-time solutions.听
Whilst PFS was our main business, we also听set up Ecomm Merchant Solutions in 2014 in the acquiring space. Ecomm鈥檚 growth has accelerated very well and our focus has been tapping into the Irish, Greek, Cypriot听and UK markets. We have now left PFS behind to focus on that business.
An听innovative platform for our clients, it has a big focus on automation and analytics.听We built听the听solution to provide a full end–to–end solution where we are the payment gateway, the processor and the acquirer.听The intention is to grow Ecomm Merchant Solution organically like we did with PFS.听
I believe in taking a leap of faith and taking a risk to move forward.听It is imperative that as an entrepreneur you are constantly thinking of your next project, never resting on our laurels and not settling.听