Over 200 jobs are to be created by an Irish company that develops payroll and tax services and software for multinational companies.

The new roles at Immedis are to be filled by the end of next year.

The firm was founded in 2016 and is part of the Taxback financial technology group founded by entrepreneur Terry Clune.

Immedis currently employs 170 people, but it has rapid growth plans and has just received a new investment of €25 million from Scottish Equity Partners (SEP).

As a result, it plans to increase its workforce to 400 within 18 months, with recruitment getting under way immediately.

The new positions will be in tax, compliance, IT, software development, marketing, finance, and sales. 

They will be located in its Dublin and Kilkenny offices and in its foreign facilities.

The company hopes the expansion will position it to take a larger slice of the $43 billion global payroll and HR market. 

Among Immedis' clients are Uber, Wayfair, First Derivatives, NYIT, DCC and Abbvie. 

In 2017 it announced a $10m acquisition of US international payroll company Expaticore.

"We are delighted to be partnering with SEP. Their investment and experience of scaling technology companies will help us further execute on our ambition to be the best in the world, continuing to balance our market leading technology and deep international tax knowledge that puts our platform to the fore of the global payroll landscape," said Immedis CEO, Ruairi Kelleher.

"Immedis has a fantastic record of growth to date, the leading cloud-based global payroll platform in iConnect and an exceptional track record of delivering for its customers" said Keith Davidson, Partner at SEP. 

He added: "Our investment is a vote of confidence in the business, helping it to continue to innovate through further investment in its product and its people."