Fintech startup Tomo has officially selected 2200 Atlantic St. in Stamford as the home of its corporate headquarters, the latest in a recent series of companies setting up shop in the Nutmeg State.
The company had previously indicated it would open an office in Stamford, but today’s announcement makes that official.
Founded in October 2020 by former Zillow executives Greg Schwartz and Carey Armstrong, Tomo will operate its end-to-end digital mortgage and home-purchasing platform from its new Stamford location, with additional corporate offices in Seattle and Austin.
The company is officially launching today in the Seattle, Houston, and Dallas markets.
Tomo says that it will be the first platform in the residential real estate space to be “buyer-centric” by using its proprietary technology to customize the home-buying experience with features that include fully underwritten pre-approvals in hours, an on-time closing guarantee, and a price match for the lowest possible mortgage rates.
Gov. Ned Lamont said the firm chose Connecticut “because they recognize that we have the best educated, best trained, and most productive workforces in the world that are driving innovation, especially in the fintech industry, which has seen tremendous growth in recent years.
“New companies like Tomo make me excited because of the innovative products they are creating,” he continued. “I am thrilled they have chosen Stamford as the central hub where they will be making this happen.”
“Innovative, growth-oriented companies like Tomo are attracted to the state by the business-friendly environment and the deep talent available here,” CEO Schwartz said. “We intend to be the destination employer of choice for those who want to change how home buying and financial services are transacted. I am proud to be in Stamford for our official launch today.”
With one of the largest seed rounds on record ”“ $70 million ”“ Tomo is a rapidly growing company that is expected to employ up to 100 people in Stamford by the end of the year.
As the company grows, the Connecticut Department of Economic and Community Development (DECD) will be supporting the expansion with “earn-as-you-grow” incentives that provide grants in arrears as job targets are reached.
“I think we are going to see many more financial technology companies like Tomo come to Connecticut in the post-pandemic era,” DECD Commissioner David Lehman said. “We have the ecosystem that can support both the tech and finance aspects of their business and we have the talent they need to help them compete in this industry. We are aggressively recruiting companies in this sector.”
