Malvern Fintech Company Plans to Add 100 Jobs to Chester County

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Malvern-Based financial technology company Savana plans to hire 100 new employees after receiving a $45 million boost funding which will help grow their digital banking expansion, writes Rachel Ravina for the Philadelphia Business Journal.

Fresh off a Series A funding round from investors that included both national and international companies, Savana will add to their current staff of 200 employees. CEO Michael Sanchez said that many of these jobs will be at the Malvern headquarters and they are looking to attract people with a variety of skills from the Greater Philadelphia area.

“If you know banking, and are technical, and are great with customers, you’re hired,” said Sanchez.

Sanchez acknowledged that the Covid-19 pandemic highlighted a need for fintech services like Savana’s as more consumers headed towards remote banking. The expansion of their services now calls for the accretion of hiring savvy employees to fill the other half of their 31,000-square-foot office space at the Great Valley Corporate Center.

“It really lets us hire in advance of need and anticipate the demand better because we have the capital to do that,” he said. “That was the main reason for raising the funds. Now that we have a product that a lot of people want, we have to be able to scale the demand.”

Sanchez said that Savana does not intend to raise additional funds because hopes the recent round will lead to long-term success.

Learn more about the jobs in the Philadelphia Business Journal.