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March 11, 2025

UPDATED: CT fintech company relocating to NYC says it's in search of 'larger talent pool'

COSTAR Tomo's current Stamford headquarters at 200 Atlantic St.
By Michael Juliano

Tomo Mortgage, an online mortgage lender based in Stamford since 2020, plans to relocate its headquarters to New York City.

The company announced the move on Tuesday in a news release that also stated it closed a $20 million Series B financing round backed by new investor Progressive Insurance.

It will use the funding to “support growth across its team and product offerings,” the company said.

Tomo’s 28 employees in its leased Stamford headquarters will move to the New York City headquarters at 1411 Broadway in Manhattan on Monday, Vice President Will Begeny said.

“Tomo is entering its next stage of growth, and being in New York City allows us to tap into a larger talent pool and better support our expanding team,” he told the Hartford Business Journal. “Stamford has been a great place to launch and build, but as we scale, having a base in the country’s largest business hub ensures we can attract top talent and continue delivering the best experience for homebuyers.”

He said the Manhattan location provides a more centralized location in the tri-state area to acquire the specialized talent it needs.

“The New York City location has opened up job applicants from New Jersey and the five boroughs,” he said. “Many team members were already commuting from NYC, so this move aligns with where our talent is based.”

He would not say how many square feet the new headquarters will occupy, but Tomo has signed a short-term lease for the Manhattan office space.

“We're taking an agile approach to growth, ensuring our space evolves with our team,” he said. “This move is just the first step, and we'll continue to evaluate the best space for our team in the coming months and years.”

Gov. Ned Lamont in 2021 touted Tomo’s decision to establish its corporate headquarters in Stamford, at 2200 Atlantic St., an eight-story office building in Harbor Point.

In making that announcement, Lamont said the company planned to employ up to 100 people in Stamford by the end of 2021, and that the state would support the expansion by providing “earn-as-you-grow” incentives, which provide grants in arrears as job targets are reached.

It wasn’t immediately clear how many people Tomo currently employs in Stamford. Tomo said it plans to move its new headquarters to 1411 Broadway in Manhattan.

The company provides mortgages in 32 states, according to its website.

Calls to the city’s Office of Economic Development were not immediately returned. 

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