Bay Area-based financial-technology companies such as Stripe are building a New York presence.
When Irish brothers Patrick and John Collison started Stripe Inc. in 2010, there was little question about where they should put their headquarters. It had to be California.
The city has long been a hub for finance, and more recently for tech. “New York is a global leader,” said David Singleton, Stripe’s chief technology officer. “It’s just an important market for entrepreneurialism and start-ups.”Stripe is one of many Bay Area-based fintech companies now building up a New York presence:
Brex Inc., the business credit card start-up most recently valued at $2.6 billion, has permanently relocated its chief financial officer to Midtown, according to a person familiar with the matter who asked not to be identified discussing information that’s not yet public. Often, financial technology companies that are just getting started set up shop in San Francisco to be close to tech workers with experience designing products at big companies, said Mark Goldberg, a partner at Index Ventures. San Francisco’s resident tech giants include Uber, Lyft Inc., Twitter Inc. and Airbnb Inc. But “what they don’t understand is the industry,” he said, adding that eventually, many fintech companies look eastward for hiring.
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