Credova, the point-of-sale financing platform that allows customers to buy now and pay later, recently decided that downtown Bozeman will be the home of its new global headquarters.
The buy now, pay later (BNPL) provider, similar to Afterpay and Klarna, provides a new way for consumers to finance larger purchases without going broke or creating credit card payments strapped to overwhelming interest rates. The consumer makes monthly payments to Credova to repay the loan. Credova CEO Dusty Wunderlich told the Bozeman Daily Chronicle that Credova's financing platform was currently available at numerous online merchants, including Hinterland Outfitters and Guns.com, as well as at select brick-and-mortar locations across the US.
With Credova's move to Bozeman, expect to start seeing Montana retailers using Credova as an alternative payment method for its buyers very soon.
The financing platform has quickly expanded over the last two years, quickly adding new merchants and customers almost daily. The financing firm now serves primarily millennial and younger clients. It realizes the impact the younger generation can have when it comes to financial technology. Before setting up shop in Bozeman, the BNPL platform was headquartered in Reno, Nevada. Credova has become a part of the growing trend of start-up technology and finance companies relocating their corporate offices in the growing college town in central Montana.
Credova joins Snowflake, the multi-billion dollar cloud-based data company, recently announced they would be relocating their main offices to Bozeman from California.
Credova's offices will be located at 515 W. Aspen St., inside the recently completed almost 70,000-square-foot Aspen Crossing complex. The top levels of the building are home to a mix of condominiums, flats, and offices. Aspen Crossing's ground floor is devoted to restaurants and retail of all kinds.
Wunderlich said construction on the interior of the Credova offices is currently in full swing with a plan to be complete in early 2022. The CEO noted that Credova began making its initial move to Bozeman at the beginning of the summer. A small percentage of the Nevada-based employees will be leaping Bozeman before the end of the year.
Dusty Wunderlich told the Bozeman Daily Chronicle that they did a thorough search of the intermountain west, spanning several different states, but that the company's executives fell in love with Bozeman from the beginning, and it always seemed like the correct choice.
Wunderlich cited Bozeman's size, prudent growth efforts, and endless dedication to the natural land and the open space as important reasons Credova saw value in the growing Montana town. The fact that Bozeman and Gallatin County are welcoming more and more technology startups to the area also created a huge draw for Wunderlich and the Credova team.
"What we liked about Montana is that when we talked to locals, people want to keep Montana Montana, and that is a big reason we came," the Credova CEO said. "We want to integrate with the culture. Our values align with the culture."
Wunderlich mentions in the interview that he knows that locals look at the rapid growth as both a positive and negative reality of their Montana town. The young CEO moved to Bozeman about seven months ago and is on a mission to get the word out that Credova is excited to become a part of an already thriving community.
"We aren't here to change (Bozeman), but to be a part of a very special place," Wunderlich vowed.
Credova, created in 2018, presently has a staff of roughly 25 full-time employees and another 20 contractors. According to Wunderlich, the company plans to expand by recruiting individuals from the area. This will be the first time we have worked with the institution to recruit graduates and draw from the local talent pool, he added. The firm understands that the only way to gain a competitive advantage is by attracting the top talents the market has to offer.
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