Project Dana: Deserve Sees Utah Expansion in the Cards

The Economic Development Corporation of Utah (EDCUtah) and the Governor’s Office of Economic Development (GOED) are pleased to announce that Deserve, Inc. will open an office in Utah, creating up to 258 high-paying jobs in the next five years. The agreement with GOED projects capital expenditure of $1.2 million. The company has selected Taylorsville for the new office.

“We’re excited that Deserve has chosen to grow in Utah and add to the state’s robust fintech sector,” said Val Hale, GOED’s executive director. “The new high-paying jobs Deserve will create will support a wide range of areas including human resources, information technology, finance and accounting.”

Partnering with universities, associations, financial institutions, fintechs, and consumer brands, Deserve develops, deploys and powers white-label and co-branded credit card programs. 

“Salt Lake Valley’s diverse and entrepreneurial talent pool and business-friendly environment provide Deserve with a unique opportunity to scale our operations while aligning with our entrepreneurial spirit and diverse culture,” said Kalpesh Kapadia, founder and CEO of Deserve. “We are proud to be a part of Utah’s thriving fintech ecosystem and add our expertise to this growing community of innovators.”

Founded in 2013, Deserve is a venture-backed fintech company whose investors include Goldman Sachs, Sallie Mae, Accel, Pelion Venture Partners, Aspect Ventures, and Mission Holdings.

“Utah has a front-and-center role in the transformation of financial services, and is one of the leading locations nationwide for fintech expansion with the skilled workforce to match,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “We welcome Deserve to our state.”

The GOED Board has approved a post-performance tax credit not to exceed $374,089. Each year that Deserve meets the criteria in its contract with the state, it will earn a portion of the total tax credit. 

For more information on Deserve, visit https://www.deserve.com/
 
Erin Farr, senior business development manager, led this project for EDCUtah.
 
For other inquiries about this project, please contact:
 
Mike Flynn, chief operating officer, EDCUtah
(801) 328-9742, mflynn@edcutah.org

 

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Thu, 03/12/2020 - 11:42