Savana, a financial technology business based in Malvern, wants to expand its digital banking division by hiring 100 additional staff after getting $45 million in investment.
Savana recently received a Series A fundraising round from investors that comprised both domestic and foreign businesses.
This means it is now looking to increase its present workforce of 200 people.
CEO Michael Sanchez said many of the roles will be located at the Malvern headquarters, and the company is trying to recruit talent from the Greater Philadelphia region.
Sanchez said: “If you know banking, and are technical, and are great with customers, you’re hired,”.
As more customers turned to remote banking, Sanchez admitted the Covid-19 outbreak emphasized the necessity for fintech services like Savana’s.
The company now needs to recruit more staff to fill the remaining half of its 31,000 square foot office space at the Great Valley Corporate Center.
Sanchez said. “It really lets us hire in advance of need and anticipate the demand better because we have the capital to do that,”
“That was the main reason for raising the funds. Now that we have a product that a lot of people want, we have to be able to scale the demand.”
As per Sanchez, Savana does not plan to seek further money since it believes the most recent round will result in long-term success.
What is Savana?
Savana, Inc. is a leading technology provider to financial institutions.
Where it is headquartered? The company is headquartered in Malvern, PA
How many staff does it have? Savana has 200 employees.
What is its annual revenue? The annual revenue is $36.6 Million.