Two FinTech Firms Set Up In North Texas With Plans For Rapid Growth
The Dallas-Fort Worth tech hub and workforce are attracting more fintech companies to the region.
Wyndham Capital Mortgage, a Charlotte, North Carolina-based mortgage fintech founded in 2001, was granted the keys to its office at Cypress Waters three weeks ago. She already has 50 loan officers in her Dallas office and wants to move between 150 and 175 loan officers by the end of 2022, said Tony Muchow, her regional sales manager.
“It’s too early to give numbers, but we saw a pretty big influx of new loans right off the bat,” said Muchow, who moved to Dallas from Scottsdale about five years ago and has been in the industry since. 20 years.
Wyndham uses technology to deliver fast loan closing experiences, which means its loan officers can do more business than competing companies, Muchow said. The company is also investing in building the individual brands of loan officers.
“It’s a different approach, but we’ve found that investing in their brand over ours makes loan officers happier who want to work here longer,” Muchow said.
This will be Wyndham’s fifth office, joining spaces in Charlotte; Phoenix; Kansas City., Missouri; and Salt Lake City. It has more than 700 employees in 30 states, including about 500 at its head office in Charlotte, about 50 each in Phoenix and Kansas City, and about 30 in Salt Lake City.
About 15 minutes northwest of Cypress Waters, OrangeGrid, a workflow-based solutions fintech, signed a lease for 9,684 square feet at the Lakeside International Office Center in Flower Mound. OrangeGrid will move its headquarters from Southern California to this space.
The fintech company chose Dallas for similar reasons, citing the region’s conducive business environment, cost of living, and pool of skilled talent.
It also has ambitious growth plans, with a goal of doubling its local staff in the near future, OrangeGrid CEO Todd Mobraten said in a statement. The company declined to disclose the number of employees it had already hired in Dallas.
OrangeGrid plans to occupy the new space by January 2022.
FinTechs are riding the digital wave caused by the pandemic. The second quarter of 2021 was the largest funding quarter on record, as fintech companies raised $ 30.8 billion globally, shattering the previous record set in the first quarter of 2021 by 30%, according to the platform. intelligence of the technology market CB Insights.