CHARLOTTE, N.C. (FOX 46 CHARLOTTE) - In a joint announcement with the city of Charlotte, Better.com announced they have chosen Charlotte for its new office and expect to hire 1,000 new employees within the next five years.
The startup is a digital mortgage lender and is opening an office at We Work's coworking space at the RailYard in South End. 100 employees will be hired by the end of the year and 1,000 by 2024.
“Opening a new office in Charlotte will help us tap into the city’s incredibly talented workforce,” said Vishal Garg, CEO and founder of Better.com. “As a rapidly growing startup, we see an entrepreneurial hunger and spirit in the city of Charlotte that is akin to what we used to see in places like downtown Manhattan in the 1980s and Silicon Valley in the 1990s. We’re thrilled to have chosen Charlotte as we enter the next stage of our company’s growth.”
The startup is the latest among companies opening offices in the area and hiring a new employee workforce. Lowe's, Honeywell, BB&T and SunTrust are among those who have expanded their businesses in the Queen City.
Better.com was founded in 2016 and now funds $450 million in mortgages per month. The company has funded more than $4.5 billion in loans and is licensed in 41 states.
Charlotte's mayor was also in attendance for the announcement. “Charlotte is a city built on innovation and commerce, with a strong educational foundation that provides optimal opportunities for fintech startups like Better.com,” said Mayor Vi Lyles. “We welcome Better.com and thank them for helping us to grow into the technology-based city we want to be.”
Ally Financial and Carolina Fin Tech Hub were also part of the announcement.