WEST PALM BEACH, Fla. — A financial technology company is moving from an office above a nightclub to a new 35,000-square-foot office space on Dixie Highway, which leaders at the Business Development Board of Palm Beach County said is one of the largest leases in the city of West Palm Beach.
MyBambu, a financial services company that provides a range of services, from money transfers to Latin American countries and food delivery services to Cuba, relocated its headquarters from Tennessee to West Palm Beach in 2021.
WATCH: Another financial services company expands in Palm Beach County
The Business Development Board of Palm Beach County said the company plans to add about 200 employees, bringing the total amount of employees to around 350 people.
“Moving into this space is a milestone for us because we are getting ready to grow significantly,” said MyBambu CEO Douglas Quay. “And in order to that we need a significant number of highly dedicated team members.”
The Business Development Board of Palm Beach County's mission, according to tax forms, is to recruit and retain companies while enhancing the county’s tax base and collecting economic data. The board, partially funded through Palm Beach County taxpayers, said they’re seeing an increase in financial service companies entering the county.
Kelly Smallridge, who is the president and CEO for the Business Development Board of Palm Beach County, said these financial service companies benefit from being close to other larger financial firms.
“They share resources and the more they have and the more density there is in the industry cluster, the greater the ability to create a workforce," she said. "Workforce drives their bottom line. So we focus a lot of talent and education.”
Quay, who, according to county property records, has owned property in Palm Beach County for years, said he was “delighted to find out” about the significant number of skilled and bilingual employees.
