Darien-based fintech company will add more than 90 jobs to CT
DARIAN – Financial technology firm Oasis Pro Markets plans to add 91 jobs in Connecticut over the next four years – with government funding of up to about $ 1 million to support the expansion, the company’s executives and government officials announced Thursday.
The employment plan would increase by several times the number of employees of the Darien-based company. Oasis Pro Markets now has 15 employees, including six in the last two months.
“Connecticut has an educated and diverse talent pool that employers are leveraging to boost our economy,” Governor Ned Lamont said in a statement. “Fintech will be a driver for the economy of the future, and I want Connecticut to be at the forefront of this burgeoning industry. Having Oasis Pro Markets anchored in Connecticut will continue to promote further investment and job creation in the state in this critical sector.”
To support Oasis Pro Markets’ growth, the State Department of Economic and Social Development will provide a “backlog” grant of up to $ 1,067,062 – an amount that depends on the company creating and retaining 91 full-time jobs.
“Connecticut is an attractive business location with its high-quality educated workforce, universities, quality of life and focus on building strong growth infrastructure – especially in the fintech area,” said Pat LaVecchia, Founder and CEO of Oasis Pro Markets. in a statement. “As a longtime citizen, it’s exciting to see Connecticut support the company’s growth and its commitment to providing a strong foundation for growing companies like ours. Governor Lamont has been incredibly supportive of building the local fintech economy, and we are proud to be a part of it. We look forward to expanding our Connecticut business. “
Oasis Pro Markets is a full-service broker-dealer and investment bank, regulated by the Financial Industry Regulatory Authority and the Securities and Exchange Commission. The key services include an alternative trading system known as OATSPRO that allows subscribers to trade digital securities through blockchain technology and pay for the digital securities in digital cash such as stablecoins or fiat currency.
The company, which is a subsidiary of Oasis Pro Inc., had received significant investor support before Thursday’s announcement. In May, it announced the completion of a $ 27 million Series A funding round.
Oasis Pro Markets represents the latest in several financial services companies that over the past year and a half have announced plans to expand in Connecticut, backed by job-dependent government subsidies. Other companies in that group include Digital Currency Group, iCapital, Hudson Bay Capital, Mirador and Tomo Networks. Cumulatively, these companies plan to create hundreds of jobs in the state over the next few years.
“Connecticut leverages its long-standing strength in financial services and its strategic location to offer competitive edge to growing firms like Oasis Pro Markets, especially an abundance of talent and a vibrant, fast-growing fintech ecosystem,” said David Lehman, State Commissioner for the Department of Economic Affairs. and Community Development, and Peter Denious, CEO of the non-profit economic development organization AdvanceCT, said in a joint statement.
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