Wilmington fintech company set to add up to 50 new jobs

WILMINGTON, N.C. (WECT) - Wilmington fintech company APPROVE has announced plans to add up to 50 new tech jobs after getting $3 million in funding, per an announcement from Wednesday, June 1.

“This growth has been driven by a team of 20 employees working out of offices in downtown Wilmington’s historic Cotton Exchange complex. With this most recent funding round complete, APPROVE plans to more than double its Wilmington-based workforce, bringing on 40 to 50 new employees,” APPROVE states in the announcement.

“The company is hiring account executives, finance operations coordinators, a digital marketing manager and multiple developers. APPROVE’s leadership team is actively seeking office space to expand its Wilmington headquarters,” the company continues.

APPROVE says the funding was supported by Cofounders Capital, Live Oak Ventures and VentureSouth. Live Oak Ventures is part of Live Oak Bancshares, which also owns Live Oak Bank. Live Oak Ventures and VentureSouth both made previous investments in the company, according to APPROVE.

“We see significant value in investing in companies that support small business growth,” Live Oak Bank Chief Strategy Office Stephanie Mann said, “and as a fellow Wilmington business, are delighted to invest in next-generation platforms and exceptional leadership teams that contribute to our local fintech ecosystem.”

Per APPROVE, the company used to be known as KWIPPED and has worked in Wilmington since 2015. The company says that since its APPROVE software launched in early 2022, its success has led the company to make APPROVE its focus and change its name accordingly.

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