BFS Capital, a leader in small business lending, has officially launched a data science and engineering hub in Toronto as the company accelerates its plans to develop best-in-class digital financial products for small businesses across the globe.
The hub, a new workspace that will eventually employ up to 50 people and is located in Toronto’s downtown core at University and King, will enable BFS Capital to leverage the city’s advanced data science and machine learning talent as the company develops the next generation of financial products.
“Toronto is fast becoming an epicenter of data science, artificial intelligence and technology and is an ideal place to expand our team and capitalize on our vision for intuitive, user-centric and digital-first financial services,” said BFS Capital CEO Mark Ruddock. “After having spent the past few years leading organizations overseas, I’ve been incredibly impressed by the rise of Toronto into one of the top technology centers in the world.”
Key BFS Capital functional areas will be represented in the Toronto location: technology, data science, customer operations and digital marketing. The center will operate like a tech startup within BFS Capital, an established company with over a decade of commercial lending experience to small businesses.
“Toronto is now ranked one of the top cities in North America for tech talent and is one of the global markets we serve. We’re investing here in order to further our mobile-first digital transformation and bring a seamless experience to our small business customers,” said Fred Kauber, Chief Technology Officer and Chief Product Officer at BFS Capital.
At the Toronto hub, BFS Capital will be hiring a cross-functional team of developers, UX designers, data scientists, software developers and engineers, and business operations professionals.
“Building a data science team with the right skills is critical to driving business value. This new workspace gives us a centralized capability for data and advanced analytics so that we can create our digital future,” said Eric Weiner, Chief Risk Officer at BFS Capital. Weiner. Weiner will relocate from the company’s Coral Springs, Fla., headquarters to Toronto.
According to CRBE, Toronto is now North America's No. 3 market for tech talent following the San Francisco Bay Area and Seattle. The city has added more than 80,000 tech jobs in the past five years, a 54% increase.
BFS Capital has issued more than $2 billion in financing to over 23,000 businesses across the U.S., Canada and, through its United Kingdom subsidiary, Boost Capital. The company welcomes inquiries about the Toronto-based data science and engineering hub.