Entrepreneurship

Tomo Selects Stamford As Location For Corporate Headquarters

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STAMFORD, CT — Another company is making the move to Connecticut.

Gov. Ned Lamont announced on Wednesday that Tomo, a financial technology startup company, has selected Stamford as the home of its corporate headquarters.

According to a news release, Tomo will operate its end-to-end digital mortgage and home-purchasing platform from its new Stamford headquarters, with additional corporate offices in Seattle, Wash. and Austin, Texas.

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,” the news release stated.

“Tomo could have selected any state in the country to locate their corporate headquarters, and they 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,” Lamont said in a news release. “New companies like Tomo make me excited because of the innovative products they are creating. I am thrilled they have chosen Stamford as the central hub where they will be making this happen, and I look forward to seeing their continued growth here.”

Tomo was founded in October 2020 by former Zillow executives Greg Schwartz and Carey Armstrong. Schwartz said he’s enjoyed working with Lamont’s office, the CT Department of Economic and Community Development (CT DECD) and AdvanceCT, on the move.

“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,” Schwartz said in a news release.

Tomo is expected to employ up to 100 people in Stamford by the end of the year. The CT Department of Economic and Community Development will be supporting the move with “earn-as-you-grow” incentives that provide grants in arrears as job targets are reached.

“We welcome Tomo to our vibrant fintech ecosystem here in Connecticut,” said Peter Denious, president and CEO of AdvanceCT, in a news release. “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.”

David Lehmen, commissioner of the CT DECD, said in the news release that he believes more financial technology companies will flock to the state post-pandemic.

“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 sectorm,” he said.

Read more at patch.com

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