While some of the recent news about the California startup ecosystem has been focused on relocations, where some are leaving, another sees an opportunity for expansion.
Addison-based fintech startup Securing Life (formerly Securing Life Today) founder Brandon Burton has relocated to Irvine in the Golden State, where he sees new partnerships and growth opportunities.
“It only makes sense that after I grew it and got enough exposure in the state of Texas that I would go to the state that has the biggest economy and try to help them,” Burton told NTX Inno. “I think it was great to start the company in Texas and have it stay in Texas, but it’s an online company and platform, and we’re really in every state pretty much, so it only made sense now to start expanding past Texas.”
The company will still maintain its offices in DFW and its workforce of about 10 consultants. Burton is currently residing in California with plans to build a small workforce there.
Burton said that with California being a hub of fintech and one of the largest economies in the country, the move made sense. It’s also where he grew up and spent part of his career in the financial industry before launching Securing Life in 2014.
“Our core focus is still in Texas, but it’s now going to be in other major cities and states, as well,” Burton said.
However, despite the density of other fintech companies operating in California, Burton said he sees other companies are potential partners rather than competition, adding that the activity's synergy is motivating.
Securing Life’s technology offers a financial software tool, allows users to connect all of their accounts in one place. Besides a B2C focus, Securing Life also partners with enterprise companies to offer its services to employees, similar to a benefit like health insurance. The company recently began entering the small business retirement market. It launched an on-demand interactive financial course, the latter of which Burton hopes can be a driver of new business through partnerships with larger institutions.
“I see us working strategically with other big companies and financial institutions and continuing to improve to help the small, medium, and large corporate markets. And just continuing to educate the country on personal finances and giving them the tools and education they need, so that they can be successful now looking forward,” Burton said.
Securing Life has already attracted the attention of some big-name players in the industry, cross-marketing with other financial service companies like TurboTax. Securing Life has also recently worked with companies like GoDaddy and Samsung.
Burton said there are deals Securing Life is working to finalize that would allow it access to workforces and financial networks in nearly every state.
“I see us assisting the biggest players in the market by helping them expand, grow, distribute and provide valuable solutions to them,” Burton said. “I see us basically assisting the big players.”
In addition to seeing the location as an opportunity, Burton also sees the timing as one. He said the pandemic has accelerated the adoption of fintech tools both in consumers and within the industry. He added that the crisis's financial uncertainty has shown the importance of using technology to adapt to changes quickly.
“Everything in the financial industry has changed. Right now, people can’t do the same thing that they used to do to be successful. Everyone has to learn new things regarding finances to be successful moving forward,” Burton said. “The trend I see is that technology will just keep expanding but will never go backward.”
Correction: A previous version of this story incorrectly stated Securing Life's location in California. The company is setting up in Irvine not Laguna Beach.
A previous version of this story incorrectly stated Securing Life's location in California. The company is setting up in Irvine not Laguna Beach.
