Fintech startup company Tomo will locate its corporate headquarters in Stamford, Connecticut. The project is expected to create 100 jobs by the end of the year.
According to state officials, 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 headquarters, with additional corporate offices in Seattle and Austin. The company has recently launched in the Seattle, Houston, and Dallas markets.
“It has been a pleasure to work with Governor Lamont’s office, the Department of Economic and Community Development, and AdvanceCT as we build out our company in Stamford,” Greg Schwartz, CEO and co-founder of Tomo, said. “Innovative, growth-oriented companies like Tomo are attracted to the state by the business-friendly environment and the deep talent available here. 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.”
Tomo will be the first platform in the residential real estate space that is buyer-centric, 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.
“We welcome Tomo to our vibrant fintech ecosystem here in Connecticut,” said Peter Denious, president and CEO of AdvanceCT. “Tomo is a great example of an industry disruptor, and we are thrilled they chose to establish their headquarters in Stamford. Their growth trajectory is exciting, and we look forward to supporting them in the coming months.”
The Governor’s Office noted “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 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,” David Lehman, commissioner of the Connecticut Department of Economic and Community Development, 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.”