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Britain-Based Curve Opens First U.S. Center in Brooklyn, New York

02/11/2020
Curve, a fast-growth, London-based financial technology firm, will open its first United States office in Brooklyn, New York.

“Brooklyn is a fantastic location for Curve to launch its U.S expansion,” Amanda Orson, Curve’s new Vice President, Head of North America, said. “In the race to own the consumer relationship, we believe Curve is the right product for the U.S. market at the right time. And to be able to start this adventure from the world’s premier financial hub, and recruit from a pool of the best tech talent in the world, is exciting.”

“U.S. consumers aren’t clamoring for a different, or additional, bank, they want their financial products to provide a better user experience. Curve’s all-in-one value proposition, ease of use, and obsession on customer experience are exactly what the US market needs,” added Orson.

This represents the first international fintech company in Downtown Brooklyn, helping anchor the borough’s rapidly growing tech economy, according to Empire State Development. As part of the project, Curve will create 185 new jobs by 2024 and invest nearly $17 million in New York-based research and development over the next decade. This project supports New York State and New York City’s joint efforts to grow the tech economy and create well-paying jobs for New Yorkers.

Eric Gertler, Empire State Development Acting Commissioner and President and CEO-designate said, “New York City has long been known as the center of the finance industry, and our rapidly growing tech ecosystem is building on that strong foundation to support some of the most innovative, interesting, and successful fintech firms. Curve’s decision to open its first U.S. office in Brooklyn is a testament to everything the Empire State has to offer, and we are proud they will call New York home for years to come.”

“While New York City has long established itself as the epicenter of the finance industry, we have also become a global leader in tech innovation,” said NYCEDC President and CEO James Patchett. “As we build on that success, we’re proud of our work to attract Curve to Downtown Brooklyn, which we believe is the new frontier for a thriving fintech community that will create good jobs for New Yorkers and strengthen our city’s tech ecosystem.”

Curve now plans to expand its platform in the United States, with an expected launch this fall. In preparation for its U.S. product launch, Curve will open its first U.S.-based office in Brooklyn, creating 185 jobs with a focus on engineering, product development, data science, marketing, regulatory, and finance roles. In addition, Curve has committed to investing at least $16.7 million in research and development in Brooklyn by 2029, state officials said.

“There is so much innovation happening in Brooklyn right now and we are thrilled to welcome London’s cutting-edge Curve to Downtown Brooklyn’s growing tech community,” said Regina Myer, President of Downtown Brooklyn Partnership. “Curve’s choice to open its first U.S. office in Downtown Brooklyn speaks to the advantages of the area’s talented workforce, access to mass transit and excellent housing options, and its vibrant creative community. It also demonstrates the importance of tax incentives such as REAP in bringing good jobs to NYC.”

In order to secure Curve’s inaugural U.S. office against competition from other cities including Austin, Texas and Charlotte, North Carolina, New York State has offered a strategic package of job creation and research and development incentives. On behalf of the state, Empire State Development has offered up to $3 million in performance-based Excelsior Jobs Program tax credits over 10 years. Curve will only receive the full state incentive if they create 185 jobs by 2024, retain those jobs through 2029, and invest $16.7 million in New York-based research and development by 2029. Additionally, Curve may also qualify for up to $5.3 million in as-of-right Relocation and Employment Assistance Program (REAP) tax credits over the next 12 years.

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