Ally Financial Inc. (AFI), has chosen to grow its recently acquired Fair Square Financial credit card and lending operations by expanding Fair Square’s current Wilmington, Delaware, footprint and almost tripling its current 75-member workforce there.
Fair Square Financial started in Wilmington’s co-working space, The Mill, six years ago and was purchased by AFI in 2021. Fair Square Financial is known for its straightforward financial products under the Ollo credit card brand.
“Fair Square Financial chose to build their business in downtown Wilmington in 2016. This week’s announcement shows their continued commitment to our state and workforce,” said Governor John Carney. “Fair Square Financial will expand its headquarters by 7,000 square feet and almost triple its current workforce. Thank you to Fair Square Financial and Ally Financial Inc. for continuing to strengthen Delaware’s workforce and financial sector.”
Wilmington Mayor Mike Purzycki shared the governor’s enthusiasm for the project.
“Wilmington celebrates AFI’s decision to expand Fair Square Financial, highlighting the City’s value proposition for the fintech industry,” Purzycki said. “Fintech companies appreciate Wilmington’s skilled and available workforce in credit marketing and analytics, which enables businesses like Fair Square Financial to leverage data to assess individual customer credit risk. Fair Square Financial’s homegrown success shows that Wilmington can accommodate early-stage business growth with amenities such as quality co-working spaces, competitively priced office space and a vibrant downtown with first-rate restaurants and entertainment. We appreciate businesses, and they appreciate Wilmington.”
About Delaware Prosperity Partnership
Delaware Prosperity Partnership (choosedelaware.com) leads Delaware’s economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support employers in place marketing Delaware to potential employees via livelovedelaware.com. The DPP team works with site selectors, executives and developers focused on where to locate or grow a business and helps with reviewing potential sites, cost-of-living analyses and funding opportunities, including available tax credits and incentives. DPP advances a culture of innovation in Delaware, working with innovators and startups to spotlight and celebrate successes and connect them with the resources they need to succeed. DPP and its partnerships throughout Delaware support and advance the missions of companies of all sizes and sectors.