A first step in its international expansion strategy
MONTRÉAL, May 13, 2020 /PRNewswire/ -- New York-based Fintech Company, TheGuarantors, is expanding its international footprint and opening its first office outside of its New York headquarters. 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.
Founded in 2015, TheGuarantors is making significant investments in technology to serve its customers in new and better ways, and will seek to more than double the engineering team over the next two years. "I'm excited about what this expansion means for TheGuarantors," said Sean O'Donoghue, Chief Operating Officer. "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 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. Its vision is to be the "go-to" most trusted brand for insurance products and financial solutions throughout the real estate industry, helping landlords lease and renters rent with peace of mind. TheGuarantors believes that a data-driven approach to underwriting combined with a digital, seamless customer experience, can transform the financial relationships that landlords have with their customers.
TheGuarantors have 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."
The company is actively hiring in Montréal, with all open positions listed on its website.
About TheGuarantors (www.theguarantors.com)
TheGuarantors is a fintech company that offers innovative risk and financial solutions for the real estate ecosystem. The company was founded in 2015 by Julien Bonneville, a Frenchman who once found himself unable to qualify for a New York apartment without a guarantor. With a focus on data and industry expertise, TheGuarantors has helped qualify an increasingly large pool of applicants by taking risk out of the leasing process in innovative and efficient ways. While Guaranti solves for risk on the multifamily side, Securiti is bringing commercial landlords and tenants closer together by making the security package cheaper and easier to buy.
About Montréal International (www.montrealinternational.com)
Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal and the City of Montréal. Its mandate is to attract and retain foreign investment (companies and startups), international organizations, skilled workers and international students to Greater Montréal by providing support services tailored to their needs.
About Investissement Québec (www.investquebec.com/quebec)
Investissement Québec's mission is to play an active role in Québec's economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province's administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from its CRIQ business unit. In addition, through Investissement Québec International, the Corporation also prospects for foreign investment and assists businesses with export activities.