Two fintech companies move into North Texas with plans for rapid growth

Dallas-Fort Worth’s tech hub and workforce are attracting more fintech firms to the area.

Wyndham Capital Mortgage, a Charlotte, N.C.-based mortgage fintech founded in 2001, got the keys to its office in Cypress Waters three weeks ago. It already has 50 loan officers at its Dallas office and wants to grow to between 150 and 175 loan officers by the end of 2022, said Tony Muchow, its regional director of sales.

“It’s too early to give numbers but we’ve seen a pretty big influx of new loan originations right out of the gate,” said Muchow, who moved to Dallas from Scottsdale about five years ago and has been in the industry for 20 years.

Wyndham uses technology to offer speedy loan closing experiences, meaning its loan officers can do more business than at competing companies, Muchow said. The firm also invests in building loan officers’ individual brands.

“It’s a different approach, but we’ve found that investing in their brand versus ours make for happier loan officers who want to work here longer,” Muchow said.

This will be Wyndham’s fifth office, joining spaces in Charlotte; Phoenix; Kansas City., Mo; and Salt Lake City. It has over 700 employees in 30 states, including about 500 at its corporate office in Charlotte, about 50 each in Phoenix and Kansas City and about 30 in Salt Lake City.

About 15 minutes northwest of Cypress Waters, OrangeGrid, a workflow-based solutions fintech, signed a lease for 9,684 square feet at Lakeside International Office Center in Flower Mound. OrangeGrid will relocate its Southern California headquarters to the space.

The fintech firm chose Dallas for similar reasons, citing the area’s business-friendly environment, cost of living and skilled talent pool.

It has lofty growth plans as well, with a goal to double its local staff in the near future, OrangeGrid CEO Todd Mobraten said in a statement. The company declined to disclose how many employees it had already hired in Dallas.

OrangeGrid plans to occupy the new space by January 2022.

Fintechs are riding the digital wave brought on by the pandemic. The second quarter of 2021 was the largest funding quarter on record with fintech companies raising $30.8 billion globally, shattering the previous record set in the first quarter of 2021 by 30%, according to tech market intelligence platform CB Insights.