This story is part of our Boomerang Series, where we talk to Minnesota natives who left for the coasts and have since returned to the Twin Cities startup scene. Think you know a “Boomerang” with a story to tell? Reach out: mkennedy@americaninno.com.
Michael Noble spent nearly a decade in the New York startup scene serving, founding and consulting for several companies, including Limewire. But the Burnsville native always knew he would come home.
“Everything here is just a little bit more accessible and conducive to business,” Noble said.
Noble returned to the Twin Cities nine years ago and lives in Golden Valley with his family. In 2013, he founded Apruve, a FinTech startup for B2B credit management. The company allows sellers to extend a revolving line of credit to customers without cash flow risk or accounts receivable. Last year, Apruve raised at $2.25M Series A and used the funds to add to its teams in marketing, sales and software development.
According to Noble, one of the great strengths of Twin Cities tech lies in its people. Tech companies typically have one of the highest turnover rates of any industry. Employees get tired of the churn and burn, or want to move on to the next big thing. But in Noble’s experience, talented techies tend to stick around longer after they’re hired.
“The startup scene here attracts people that don’t want to work at Best Buy, General Mills and what not,” he said. “They’re great companies, but they’re not for everyone. The tech scene here fosters a smaller, more intimate culture.”
But if the Cities want to create more boomerangs and attract more top tech talent, a few things need to happen, according to Noble. Like other founders and entrepreneurs, he pointed to a lack of investment capital in the area as an issue. While Twin Cities investors like Matchstick Ventures backed Apruve early on, its Series A was funded by investors in Palo Alto and Atlanta.
“But our dollar goes farther here,” he added. “Rent and resources are cheaper, and that matters in the very early stages of a company.”
