Tag: Business & Financial Services

Delaware's Best Egg grows

Best Egg Experienced Record Growth in 2021

Best Egg Experienced Record Growth in 2021

Delaware's Best Egg grows

Best Egg Launches Multi-Product Platform to Help Consumers With Their Everyday Finances


Best Egg, the AI-powered, online financial platform that is owned and operated by Marlette Holdings, Inc, and its subsidiaries is pleased to share information on the success it achieved in 2021. The platform experienced a record year facilitating 437,000 new accounts and surpassing over 1.2 million total accounts since inception.

“Last year, Best Egg experienced tremendous success,” Jeffrey Meiler, CEO and founder of Marlette funding said. “In 2021 the Best Egg platform facilitated $4.6 billion in personal loans, bringing us to over $15 billion in loans since the platform launched in 2014.”

In addition to a record-breaking year for personal loans, Best Egg introduced two new products in 2021. In June, Best Egg began piloting a new Visa® credit card, offering a value proposition that provides spending controls and features that will grow and evolve as customers rebuild their credit. To date, 19,000 consumers carry the Best Egg credit card with confidence.

In December, the platform announced the launch of the Best Egg Financial Health. Free to all, Best Egg Financial Health customers initially get access to features like their VantageScore® credit score with monthly updates, credit report alerts, credit score factor explanations, a credit score simulator, financial calculators, and a Knowledge Center full of tips and ideas to help people with their finances. Since its inception, the financial health platform has welcomed more than 100,000 members.

To celebrate the launch of the Best Egg Financial Health platform, Best Egg announced the ongoing Better Credit Sweepstakes, which started on January 1 and runs through January 31 of this year. The winner of the sweepstakes will receive $25,000 to help them get their finances on track for 2022.

“Our growth has been achieved thanks to the experts and professionals who contribute their talents to our mission to build financial confidence for people who experience challenges with their everyday finances,” Meiler continued. “Marlette has been recognized numerous times as a Top Workplace within the region, a reputation that has attracted top talent. Last year we hired more than 200 employees and plan to add 350 in 2022. Our teams’ efforts place us on a path for continued and sustained growth within the next year.”

Marlette doubled the size of its team to over 400 professionals while opening a new headquarters in Wilmington, Delaware. The headquarters’ infrastructure was built to provide a pandemic-friendly workspace. The company embraces a flexible approach to the workplace, offering employees the option of using the office or working remotely. Jobs open now can be found at www.bestegg.com/careers.  

With a focus on helping consumers feel more financially confident and providing simple products that help them with the challenges they face with everyday finances. This will be achieved by continuing to use customer feedback to create value and deepen its customer base across all products, while also expanding the pool of customers it serves.

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About Marlette Holdings, Inc

Marlette Holdings, LLC, d/b/a Best Egg, is a leading financial technology provider whose subsidiaries developed and operate the AI-powered Best Egg financial platform, which aims to help people feel more confident about their everyday finances. The team mixes decades of banking experience with deep customer knowledge and smart technology to deliver digital products, services and experiences in a more relevant way. Since March 2014, the platform has delivered over $15 billion of consumer loans with strong credit performance. For more information, visit www.MarletteFunding.com or www.BestEgg.com.

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Site Readiness Fund Delaware Division of Small Business

Delaware Launches New Site Readiness Fund

Delaware Launches New Site Readiness Fund – Online Application Process

Site Readiness Fund Delaware Division of Small Business

The Delaware Division of Small Business is now accepting applications for the Site Readiness Fund from qualified businesses or local governments. Established through Senate Bill 127, the fund promotes economic growth and stability by investing in the development or improvement of commercial and industrial sites to attract job-creating businesses.

The Site Readiness Fund provides grants, loans or other economic assistance to qualified businesses or local governments that invest in constructing, renovating or improving commercial, industrial sites that are readily available to new businesses, established businesses that are considering moving to the state, or existing businesses within the state that need additional sites to remain or expand in Delaware.

“There is significant competition between Delaware and surrounding states to attract and keep vital businesses that create and maintain employment opportunities,” said Jordan SchultiesDirector of the Division of Small Business. “The Site Readiness Fund is an important tool we can use to stay competitive and incentivize those businesses to locate in our state.”

“The Site Readiness Fund creates more viable options for companies looking to locate or expand right here in Delaware,” said Kurt Foreman, President and CEO of the Delaware Prosperity Partnership. “The fund provides an investment in ensuring that sites throughout the state are ready for the kinds of development and job growth we all value.”

Site Readiness Fund applications are available at business.delaware.gov/site-readiness-fund. Once completed, applications can be emailed to business_finance@delaware.gov.

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kent county small business and hospitality grants 2022

New Kent County Small Business Grants

New Kent County Small Business Grant Program

kent county small business and hospitality grants 2022

January 6, 2022 –

Attention Kent County Small Businesses!


Kent County Levy CourtCentral Delaware Chamber of Commerce and Kent County Tourism have launched a new $3 million grant program for Kent County small businesses. Grant funds are available for small businesses with 100 or fewer full-time employees who had established operations in Kent County during calendar years 2020 and 2019 and are in still in operation today. Grant funds can be used to directly support the operation of the business.

 A similar $2 million grant program was also launched for Kent County hotel and banquet/meeting facilities. Eligible organizations include hoteliers and for-profit banquet/meeting facilities with established operations in Kent County during calendar years 2020 and 2019 who are still in operation today.

Both grant programs are currently accepting applications. The deadline to apply is March 31, 2022, or when funds are exhausted for the grant programs.

Visit the Kent Count Small Business Grants website to apply for a grant and get answers to frequently asked questions.

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digital fintech company ICM Delaware

ICM Chooses Wilmington for New Headquarters

Investor Cash Management Chooses Wilmington, Delaware, for New Headquarters

 

digital fintech company ICM Delaware

December 14, 2021 – 

Early-Stage Digital Fintech Company to Invest $15 Million to Create 395 Jobs as Part of Delaware’s Growing Fintech Hub Over Next Several Years


WILMINGTON, Del. — Following a considerable site search that included major markets across the United States, the early-stage digital fintech company Investor Cash Management (ICM) has selected Wilmington, Delaware, as the site of its new $15.37 million headquarters and customer service center. The company, which started in 2018 and currently employs 30, plans to grow its workforce tenfold, projecting the creation of 395 new jobs over the next three years.

A platform as a service (PaaS) provider in the fintech space, ICM uses an application programming interface – or API-driven technology – to link cash management accounts directly to specified investments, transforming investment products such as mutual funds, exchange-traded funds and/or shares into digital transaction currencies. The technology combines banking, investing and payments to drive client acquisition and increase assets.

The company plans to invest up to $15 million in its future headquarters and customer service center in the City of Wilmington. The jobs ICM will create in Delaware over the next three years will include tech positions, such as coders and programmers, along with sales, marketing, customer service, administrative, finance and managerial positions. Delaware Prosperity Partnership began working with ICM earlier this year on its site selection process.

“We are pleased to welcome ICM as it expands its operations and creates new jobs here in Delaware,” said Governor John Carney. “Delaware has a long legacy of excellence in the financial services industry, and we remain committed to fostering an innovation ecosystem for businesses of all sizes. Our location in the heart of the Mid-Atlantic region, strong workforce and quality of life make Delaware a great place for companies to put down roots and create jobs.”  

ICM founder and CEO Fred Phillips presented to Delaware’s Council on Development Finance, requesting a performance-based grant of $3,797,310 and a capital expenditure grant of $461,100 from the Delaware Strategic Fund. Distribution of grants from the Delaware Strategic Fund are dependent on the company achieving goals as outlined in their proposal to the CDF, which reviewed and approved the request.

“We are thrilled to welcome Investor Cash Management and its growing workforce to our Downtown District – the beating heart of Wilmington – where you can dine in first-rate restaurants such as James Beard nominee Bardea, visit fine museums and galleries, enjoy live music most any night of the week or live theater that rivals the best Broadway has to offer,” said Wilmington Mayor Mike Purzycki. “By locating its operations in Wilmington, a market with one of the highest concentrations of financial services jobs in the country, ICM joins a community of new and existing financial technology firms that are developing innovative banking products. And as a key tenant in our thriving central business district, ICM will operate among a variety of other well-established businesses, both large and small, as well as an increasing number of residents who are choosing to live downtown and take advantage of all the rich amenities Wilmington has to offer visitors and residents alike.” 

ICM is a Visa Ventures company, backed by marquee players in both the digital and financial services sectors, including the founders of Morningstar and Ariel Investments. The company also has partnered with PIMCO, Invesco, Trusted Capital Group/HUB Financial, WisdomTree and others to market their investor cash management account products and services.

Locally, the fintech firm announced in September a partnership with Delaware State University, which offers its cash management account products and services to students, faculty, staff and alumni. DSU leadership hopes to improve financial literacy among its students and improve the economic trajectory of traditionally un- or under-banked minority communities. Additional community involvement includes partnerships with the National Education Association, representing more than 3 million educators, and the Service Employees International Union, representing more than 2 million frontline workers.

Phillips commented: “After an extensive search, ICM is pleased and proud to announce that Wilmington, Delaware, is the home of our new corporate headquarters. We look forward to building on its foundation as a world-class center of payments and financial services, and we believe the appeal of the city and state will contribute to our ability to attract new colleagues and create a significant number of quality jobs while developing next-generation technologies that empower individuals to build better financial futures.”

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About Delaware Prosperity Partnership

Delaware Prosperity Partnership leads Delaware’s economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting, and developing talent. The DPP team works with site selectors, executives and developers focused on where to locate or grow a business and helps with reviewing potential sites, cost-of-living analyses and funding opportunities, including available tax credits and incentives. DPP advances a culture of innovation in Delaware, working with innovators and startups to spotlight and celebrate successes and connect them with the resources they need to succeed. DPP and its partnerships throughout Delaware support and advance the missions of companies of all sizes and sectors.

About Investor Cash Management

ICM is a Visa Ventures portfolio company that has developed unique, API-powered technology to create investor cash management accounts (ICMAs) linked concurrently to both bank accounts and specified investment products (e.g., mutual funds, ETFs, and/or shares), thereby enabling the client to obtain an objectively better combination of higher investment returns and immediate liquidity.  ICMAs transform the specified investment products into immediately liquid digital transaction currencies to seamlessly use via a debit card, ATM access, P2P transfers, and online bill pay. ICM has been listed among the world’s 10 leading fintech companies by Capgemini and UBS, and ICM was the featured fintech company at the Morningstar and Envestnet conferences.

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International Recognition of Delaware’s Fintech Opportunities

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International Recognition of Delaware’s Fintech Opportunities

Delaware Prosperity Partnership visits Factory Berlin to share fintech report


Delaware Prosperity Partnership President, Kurt Foreman shared the findings from Delaware in a Fintech Future at Factory Berlin, one of the world’s most unique international coworking spaces, with more than 3,000 members from over 70 nations. The Delaware fintech report was researched and authored by the Delaware Prosperity Partnership, First State Fintech Lab and the University of Delaware’s Institute for Public Administration.

Delaware is already a financial services destination with world-renowned, established financial services firms including JPMorgan Chase, Capital One, and Bank of America. And now, fintech startups are thriving in Delaware’s innovation ecosystem, and mid-stage fintech companies from around the world are choosing Delaware to continue to grow. Acorns, a California-based fintech, recently opened a satellite operation at The Mill in Wilmington, Delaware while Marlette Funding is expanding and creating 200+ new jobs in the state.

As a leader in intellectual property, Delaware is competitively positioned to capitalize on the international surge of investment activity in fintech advancement. Globally, fintech investment has increased exponentially, with over $111.8 billion of investment in 2018 compared to just $18.9 billion in 2013.

Director of Research at the Delaware Prosperity Partnership, John Taylor, explained, “Delaware’s history as a leading international center for financial services—with deep workforce strength across both financial and tech occupations—has positioned the state as a natural home for both fintech startups and the established banks that have rapidly transformed into fintech companies.”

Some takeaways about fintech in Delaware:

  • Delaware has the highest relative concentration of financial services jobs of any U.S. state. Among U.S. counties, New Castle County ranks third.
  • Since 2009, nearly 200 fintech patents were assigned to Delaware-based individuals and companies, ranking first in the United States on a per capita basis, and fifth in absolute terms.
  • Finance accounts for more than one-fifth of our state’s GDP, the largest contribution of any sector.
  • Delaware has been a magnet for out-of-state direct investment by financial services firms in recent years, with $725 million invested since 2010. Wilmington is the leading destination in our region for this investment.

Delaware in a Fintech Future is available at www.choosedelaware.com/fintechreport.

About Delaware Prosperity Partnership

Created in 2017, Delaware Prosperity Partnership (DPP) is the nonprofit that leads the state of Delaware’s economic development efforts to attract, grow and retain businesses. DPP works with site selectors, commercial developers and business executives responsible for deciding where to move or grow a business. The team helps with reviewing potential sites, cost-of-living analysis, quality-of-life intel and funding opportunities including available tax credits and incentives. For more information, visit www.choosedelaware.com.

About First State Fintech Lab

The First State Fintech Lab (FSFL) is a nonprofit dedicated to nurturing and growing the financial technology ecosystem in Delaware by convening and collaborating across industries, disciplines, and demographics. The FSFL supports and helps foster novel public-private partnerships and dialogue; works to fill Delaware’s talent pipeline; and supports expanding opportunities and access to low investment communities. To learn more, visit firststatefintech.org

About the Institute for Public Administration, University of Delaware

The University of Delaware’s Institute for Public Administration (IPA) addresses the policy, planning, and management needs of its partners through the integration of applied research, professional development, and the education of tomorrow’s leaders. IPA is a research and public service center in the Joseph R. Biden, Jr. School of Public Policy & Administration. To learn more, visit www.ipa.udel.edu

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UD, Delaware Technology Park and Discover Bank partner on new FinTech building at STAR Campus

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UD, Delaware Technology Park and Discover Bank Partner on new FinTech Building at STAR Campus

25 NOVEMBER, 2019 | PETER BOTHUM | UNIVERSITY OF DELAWARE

Once a nearly blank canvas inviting imagination for what the university of the future may look like, the University of Delaware’s Science Technology and Advanced Research (STAR) Campus is realizing such transformation on a daily basis. Combining top academics and research with industry and community partnerships, a renewed future is shaping in real time at this intersection of discovery, education and innovation, driven by a bold vision for positive impact on the world.

UD, Delaware Technology Park (DTP) and Discover Bank will partner on the construction of a new building that continues the STAR Campus’s march into the future, adding a building block that taps into the evolving world of financial services technology — commonly called FinTech — with an eye on growth for Delaware.

Like the previous construction on STAR Campus, the six-story, 100,000-square feet structure will bring various facets of an industry together under one roof, in this case the academic, business and governmental segments of the financial world.

“Working with DTP and Discover to strengthen Delaware’s growing FinTech sector, the University of Delaware is proud to participate in this public-private partnership, continuing development of knowledge and innovations that help drive our state’s economy,” said UD President Dennis Assanis. “Our University is a national leader in finance, technology and entrepreneurship, so combining our expertise and resources in these complementary fields will yield exciting opportunities for our students and faculty with meaningful impact on society.”

The new FinTech building will add immense value to Delaware’s growing prowess in financial technology. More and more financial services companies are morphing into technology companies. Global investment in FinTech-related companies rose from $18.9 billion in 2013 to $111.8 billion in 2018, according to a recent report by the Delaware Prosperity Partnership.

“We’re working hard in Delaware to support those entrepreneurs and innovators who will keep our state competitive in the 21st century economy, and drive new job creation,” Governor John Carney said. “We’re also good at working together in Delaware, and I am really pleased to see this kind of collaboration between the private sector and the University of Delaware. This partnership at the STAR Campus will help create a pipeline of skilled local talent, support our entrepreneurs, build on our strength in financial technology, and strengthen our economy over the long term.”

By constructing a hub where the financial services industry and academia intersect with technology and innovation, UD, Discover and DTP will contribute to the vitality of Delaware’s economy. UD’s research and instruction in data-related disciplines will create a highly capable workforce to feed the FinTech industry in Delaware, including the start-up businesses that will hatch, grow and spin out of the new facility.

The building will house:

  • Spaces for startups to develop and grow, managed by Delaware Technology Park. Tenants will have onsite access to business development resources and technical assistance.
  • Labs and centers associated within UD’s College of Engineering and Alfred Lerner College of Business and Economics. These spaces will link strengths and resources from both colleges on topics such as financial analytics, cybersecurity, human-machine learning and data analysis.
  • UD’s Office of Economic Innovation and Partnerships (OEIP) will relocate its offices from the Delaware Technology Park’s Innovation Way location.
  • Delaware’s Small Business Development Center, which will be synergistically located to offer assistance to OEIP’s Spin In program. This program connects UD undergraduate students with community entrepreneurs and early-stage startups to give them an inside look at business innovation in action and a chance to apply what they’re learning in real-life situations.

“Delaware Technology Park is excited to launch a new building project on STAR Campus in conjunction with the University of Delaware and funded by Discover Bank,” said Mike Bowman, president and CEO of DTP. “It will contain faculty, students and entrepreneurs with outstanding data science knowledge and digital management competencies as well as support resources for business development and community education.”

The $38 million project will be funded via a favorable below market interest rate loan by Discover Bank to DTP, the owner of the building. UD will lease space in the building.

Discover Bank is currently exploring ways to partner with UD on research related to the financial technology needs of the bank that may include cyber-related technologies, and consumer data analytics, applications and behaviors. A national nonprofit focused on improving the financial health of communities, has partnered with Discover Bank to work with UD, DTP, entrepreneurs and the community on the utilization and testing of financial technologies to improve consumer financial health.

“Discover Bank is dedicated to building stronger communities, which is why we’ve championed this project with the Delaware Technology Park and the University of Delaware to expand economic opportunities, create jobs in financial services and FinTech, and promote financial health for underserved populations,” said Discover Bank President James J. Roszkowski. “The development at STAR helps us realize our vision of creating brighter financial futures for consumers as well as creating new opportunities for the business community.”

The building, which is scheduled for a 2021 opening, will mark the first sizable presence of Lerner College on the STAR Campus.

“This project will create an excellent opportunity for UD students to explore new frontiers in data-related disciplines including computer and information sciences, computer engineering and financial analytics,” UD Provost Robin Morgan said. “With a focus on setting up our students for success, the UD community will have access to new space for academic growth and the pursuit of employment opportunities in the continuously expanding FinTech industry here in Delaware.”

Potential plans and programs include a cybersecurity leadership center that would link Lerner’s cybersecurity management with the College of Engineering’s cybersecurity engineering and technology, a space for human-machine learning and social media data analysis and a multi-media studio.

Kurt Foreman

PRESIDENT & CEO

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