Fintech specialist Fibonatix has established an office in the Manchester, becoming the second Israeli firm to launch a base in the city in a matter of weeks.

The company will eventually be based at XYZ in Spinningfields, but is making a temporary home at the nearby Centurion House, on Deansgate, until April.

Fibonatix follows Sanabil Digital an advertising agency with a client base including Doritos and Giorgio Armani.

"We view the North West as the developing centre of the UK’s payments industry and we wanted to be right in the centre of it," Tal Miller, chief executive of Fibonatix, told Prolific North.

READ MORE: Israeli advertising agency brings 60 jobs to MediaCityUK

"The payment solutions we offer focus on online businesses, and our staff members in Manchester have their unique areas of expertise which include compliance and underwriting, risk management and finance.

Tal Miller Fibonatix CEO

"We believe in working with and developing local talent so decided to recruit from Manchester. In the long-term, the plan is to grow our UK workforce and expand the company’s international reach.

Tim Newns, chief executive of inward investment agency MIDAS, said : “Fibonatix is a great addition to the ecosystem and they will be looking to connect with the fintech hubs across the city such as Rise Manchester and the soon to open Vault in Spinningfields."

Online advertising and social media organisation Sanabil Digital is looking to employ up to 60 people in the Blue Tower at Salford Quays' MediaCityUK

The group, which already works with brands in the Middle East, is entering new markets and aims to support existing clients in new territories with the move.