CHARLOTTE, N.C. (May 25, 2021) – Credit Karma announced today that it is expanding its operations in Charlotte, adding 600 new jobs and investing $13 million to transform its existing operations into an East Coast Headquarters.
“We are thrilled to have Credit Karma establish their East Coast headquarters in our state,” said Governor Cooper. “North Carolina is the ideal place for technology companies to do business, thanks to our tech-savvy talent, resilient economy and great quality of life.”
Credit Karma, headquartered in Oakland, CA, is a consumer technology platform best known for providing more than four billion free credit scores to consumers. The company has since grown into a go-to destination for more than 110 million members globally for everything related to their financial goals, including identity monitoring, applying for credit cards, shopping for loans (car, home and personal), savings accounts and now checking accounts, both offered through banking partner, MVB Bank, Inc., Member FDIC.
This intentional decision to focus their corporate growth in Charlotte is due to the robust talent pool, excellent quality of life for their employees and optimal location between their California and London offices. These newly announced jobs will drive the technical vision for the company’s engineering organization, with a focus on scaling. These roles will be heavily centered on software engineers along with some analyst and management roles, with an average salary of $156,600 for the roles in this project.
“Credit Karma has been in Charlotte for 4 years and with the significant incentives provided by the state of North Carolina and from the city of Charlotte, we are doubling down on the market and making this our East Coast headquarters. The intersection of technical talent and having so many financial companies concentrated in one market makes Charlotte's talent pool unrivaled for the roles Credit Karma is recruiting for as we accelerate on building products to deliver on our mission of championing financial progress for all,” said Credit Karma founder and CEO Kenneth Lin.
Credit Karma joined the Charlotte community in 2017 and has since grown to employing 189 people at its Charlotte office located in Ballantyne. With the announced hiring earlier this year, along with this intentional creation of an East Coast HQ, this announcement today will bring their total headcount in Charlotte to more than 900 employees. Credit Karma will expand in Ballantyne and create an office space environment that will attract and retain top tech talent.
“Today’s announcement is another boost for our city’s emerging identity as a strong market for technology, especially in the field of fintech,” said Charlotte Mayor Vi Lyles. “The addition of 600 new careers will add to our incredible growth in innovation and will solidify Charlotte as a tech hub where companies like Credit Karma can develop and thrive.”
Credit Karma’s expansion caps off an uncharted but fruitful year for Charlotte’s economy as it grappled with the COVID-19 pandemic. Since March 2020, the city’s Business Recruitment team has announced more than 5,000 new jobs, including Centene’s east coast headquarters and technology hub and, Arrival Automotive’ s North American headquarters.
“As we round the corner of the pandemic, Charlotte is proving to be a top destination for companies and workers looking for an affordable, urban market and high-quality lifestyle,” said Fran West, assistant economic development director and business recruitment leader. “We are hopeful that more companies will pursue Charlotte as a top destination to grow and transform their business, tapping into our incredible talent pool and well-positioned real estate market.”
The project was a collaborative effort between the City of Charlotte, North Carolina Department of Commerce, Economic Development Partnership of North Carolina, North Carolina Community College System, Central Piedmont Community College, University of North Carolina Charlotte, Mecklenburg County and the Charlotte Regional Business Alliance.
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