CHARLOTTE, N.C. (WBTV) - It’s a rather small fish in the growing pond of Charlotte mega-companies but the announcement to bring “Better.com” to Charlotte checks a lot of boxes for city leaders. Mainly, that taxpayers aren’t fronting the bill with any incentives for the company to set up shop in the Queen City.
“Better” is a financial technology company that partners with Ally Financial. If you were to go online to Ally and apply for a mortgage or to refinance, Better handles your experience online.
Better has just 20 employees at its office in The Railyard SouthEnd building on S. Tryon but the plan is to hire 100 by the end of the year and 1,000 in the years to come. Better CEO Vishal Garg says starting salaries are $65,000 with benefits that take it north of $100,000.
Garg said starting an office location in Charlotte was an easy decision.
“It’s a dynamic place and we want to be where dynamic, young people who want to help American consumers re-imagine home ownership are,” Garg said.
“We’ll be in downtown Charlotte for the years to come."
It was an easy decision for Garg after a little coaxing from city leaders. City councilman and local Fintech promoter Tariq Bokhari told WBTV that Ally had informed him Better was looking for a new home and needed a little love from a city that wanted them to be there.
"I had a call with the founder and spent some time making the case for why Charlotte is where millennials want to move today.” Bokhari said.
Bokhari is the President of Carolina FinTech Hub, a non-profit that works with Charlotte’s local banks in developing and attracting FinTech talent to Charlotte. He believes that it’s getting companies like Better to move to the Queen City that offers the most potential.
“I think this is where we ultimately see the highest growth,” Bokhari said.
“We love our large companies, we love the Honeywell, the Lowes deals but a lot of our economy is built on these small, high growth companies like Better.”
“Today its 20 jobs, by the end of the year its 100 and before you know it’s a 1,000,” Bokhari said.