ORLANDO, Fla. (WOFL FOX 35) - It’s an old-fashioned ribbon cutting for a futuristic high-tech company. One of Orlando’s fastest growing companies is making Downtown Orlando it’s permanent home.
Downtown Orlando is on the move, but it’s not just night clubs and restaurants enjoying strong sales. The city’s growing tech sector is catching national attention. This ribbon cutting for Fattmerchant’s new downtown office tells the story.
The financial tech company has grown two thousand percent in a little more than a year. The subscription-based merchant services provider has grown from one worker to a team of 25 in less than two years. "We will be probably be adding on another 15 new head count to get to 40 by the end of this year alone," said founder and CEO Suneera Madhani.
Orlando Mayor Buddy Dyer says Fattmerchant could grow into a company with national impact. "We start and grow companies, so this is a great example of what Orlando is all about," Dyer said.
Fattmerchant’s owners just raised $1.4 million in new funding, all with Orlando-area investors, including Phil Rawlins from the Orlando City Soccer Club. "It’s important for the city itself. It’s important for the taxpayers. It’s important for our economy in general to create these jobs and to continue to boost the Orlando economic development," Dyer added. "We have the smart, young entrepreneurs here, and all they need is a little bit of capital."
Fattmerchant managers said they have saved local companies $2 million in fees last year -- money that can be pumped back into our local economy.