New York-based fintech company, TheGuarantors, is expanding its international footprint and opening its first operations complex outside of its headquarters with an engineering and development office in Montreal, Québec, Canada.
According to company officials, the newly created venture, Guarantors Technology Service Inc, will be dedicated to engineering, software development, and the expansion of the organization's tech capabilities. TheGuarantors, a leader in finding innovative ways to solve risk in leasing, combining its expertise in real estate, risk, and technology, specifically sought out the deep technical talent in Montreal when building its growth strategy. The Montréal subsidiary will focus on building the next generation systems that will drive new product development and power the company's growth.
"I'm excited about what this expansion means for TheGuarantors," said Sean O'Donoghue, COO. "Building a team in Montréal gives us the opportunity to tap into the incredible talent the city has to offer, to introduce our program and products to a new market, and allows us to continue to work cross-functionally as a growing team."
Backed by White Star Capital and several other prominent investors from Europe and the U.S., TheGuarantors said it is excited to continue expanding its footprint with this new team. The company is unique in its fintech approach to the real estate industry, an area not traditionally known for innovation or technology leadership. TheGuarantors partnered with Investissement Québec and Montréal International to speed its Canadian expansion and leverage the strong network offered by both groups, who are leaders in helping international companies grow to Montréal.
"Greater Montréal's financial technology sector is still going strong and will certainly have a key role in our economy in the next few years," said Stéphane Paquet, President and CEO of Montréal International. "The expertise of Greater Montréal's talent pool has played an undeniable role in TheGuarantors' decision to choose the area for its first international expansion. We're very proud that this innovative company selected our region to expand its activities."
"As the Québec economy gradually reopens, Investissement Québec is delighted to see that Montréal's appeal for innovative businesses is holding strong," said Hubert Bolduc, President of Investissement Québec International. "We welcome the decision by New York-based TheGuarantors to open an office here, a move that will help turn the spotlight on our world-class talent and vibrant ecosystem while simultaneously taking advantage of our welcoming fiscal framework. The company's expansion is a breath of fresh air for the FinTech sector, and we are pleased to be a part of the industry's consolidation."