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Stacey Abrams' financial technology business to expand with $29 million injection

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A financial technology business co-founded by Stacey Abrams has secured $29 million, which it will use to expand its business and outreach.

Now Corp. announced on Thursday it is partnering with Brigade Capital Management and Virgo Investment Group. With Brigade Capital Management now managing about $29.5 billion in assets, Now's CEO, Lara Hodgson, says the firm can serve more customers and increase product offerings, according to AtlantaInno.

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Now was founded by Abrams and Hodgson in 2010. The company helps businesses receive their due payments in a timely manner, Now's website says.

Future plans for Now include hiring new employees and resuming in-person work. The Georgia business only has 25 employees but plans to hire across every sector, including customer success, marketing, and technology. With most of its customers based in Georgia and the Southeast, Hodgson sees Now's deal with Brigade Capital Management as a chance to expand nationally, AtlantaInno reported.

As part of Now's move back to working in-person, the business will be moving operations to a new building in Atlanta, Georgia. Employees of Now have worked from home since the start of the COVID-19 pandemic but will now work a hybrid schedule. Hodgson said she is figuring out how to facilitate in-person collaboration while retaining flexibility, according to the outlet.

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Now did not immediately respond to the Washington Examiner's request for comment.

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Tags: News, money, Stacey Abrams, Finance

Original Author: Asher Notheis

Original Location: Stacey Abrams' financial technology business to expand with $29 million injection

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