24 January 2018
visit www.ebaday.com

Earnest to create 500 jobs in Utah move

16 August 2017  |  9065 views  |  0 Server farm

San Francisco-based fintech startup Earnest is opening a second location in Utah, adding up to 500 jobs to the community and $5.6 million in capital investment over the next five years.

Earnest, which offers low-interest, no-fee loans to credit-worthy borrowers, currently has 150 employees located at its headquarters. The new Utah operation will employ team members across credit and client operations, sales and marketing, engineering and management positions.

Earnest looks beyond traditional markers of creditworthiness to consider factors such as income, savings, education, employment and credit history. Services include personal loans, student loan refinancing and home loans.

Louis Beryl, CEO and co-founder of Earnest, says: “Utah has become a thriving hub for both technology and financial services companies, with a deep talent pool across multiple areas that is complementary to what we see in San Francisco. Expanding to Utah is an important next step as we continue working to build the modern bank for the next generation.”

Supported by the promise of a $2.8 million tax rebate for setting up shop in Utah, Earnest will join other innovative fintech startups, including Varo Money and SoFi, in the state's thriving tech community.

Bloomberg reported this week that Earnest is seeking to raise $50 million in new equity and has hired Barclays in a quest to find a suitor willing to pay up to $200 million to takeover the company.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Online lender Earnest raises $275m to build 'modern bank for the next generation'

Online lender Earnest raises $275m to build 'modern bank for the next generation'

17 November 2015  |  5197 views  |  0 comments | 12 tweets | 7 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.niceactimize.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9821 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9510 views comments | 14 tweets | 14 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8546 views comments | 17 tweets | 11 linkedin
Could distributed ledgers restore the reputation of the MBS market?Could distributed ledgers restore the repu...
7054 views comments | 6 tweets | 9 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
7044 views comments | 13 tweets | 25 linkedin

Featured job

Germany, Austria or Switzerland

Find your next job