Photo courtesy of Stavvy

After Newton-based fintech startup Stavvy received over $40 million in series A venture capital financing last year, Chief Operating Officer Josh Feinblum and its HR team faced the task of looking for a new headquarters and onboarding hundreds of new employees.

Unlike firms that have polled employees on their preferences during an office space search, Stavvy was more concerned with a location that maximized its ability to recruit future talent. That led to downtown Boston and a commitment to occupy 19,000 square feet at 101 Federal St.

“You can’t really survey people when you know you’re going to increase five times in size, but we were really thinking about accessibility and the type of talent we were looking for,” said Feinblum, whose company moved into the Financial District office tower early this month.

Founded in 2021 by MIT Sloan School of Management graduates, Stavvy developed an online platform to streamline the mortgage origination process. The company originally operated out of a small office in Newton Centre, which was lightly populated during the pandemic, and Stavvy has never implemented a formal policy on remote-versus-office work. Approximately 10 percent of the workforce is fully remote.

“We drafted different versions of policies and then never shared them. It was clear the situation was so dynamic that they might not come to fruition,” Feinblum said.

The new 24th-floor offices – formerly occupied by Google’s Fitbit division – will provide a destination for the growing workforce with typical tech office perks such as a full kitchen, breakout rooms, open floor plans and private workspaces. The sublease from Google, which itself had subleased the space previously, provided the advantage of move-in-ready space for quick occupancy. But Feinblum said there will be some changes as Stavvy customizes the space and scales back open-office areas that some employees find distracting.

Like many executives trying to balance employees’ preference for remote work against in-person collaboration, Feinblum said Stavvy’s new headquarters will provide flexibility for both models. The company hired its 100th employee on March 1 and expects to end the year with approximately 250.

“We have a strong belief that innovation benefits tremendously from having people from different teams and backgrounds in-person together,” he said. “I don’t know that we’re ever going to try to go back to the traditional 9-to-5 world. But this is working.”

Suburban Fintech Makes Downtown Move Amid Growth Spurt

by Steve Adams time to read: 2 min
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