TrueAccord, a debt recovery technology startup based in San Francisco, will set up shop in the Kansas City area in April, the company announced Wednesday.
The company will spend $1.34 million moving into a 12,000-square-foot office space in Lenexa, Kansas, according to a press release. It plans to hire 150 people over the next three years to fill sales and technology roles at the new site.
TrueAccord COO Sheila Monroe said the company picked Kansas City for relatively low operational costs, ease of transportation and local culture.
“Ultimately our decision came down to the ability attract top talent and to meet our growing business needs,” Monroe said in the release. “The expansion and our new team members will help to further the TrueAccord mission to modernize and improve the debt recovery marketplace.”
Founded in 2013, TrueAccord applies machine learning technology to help banks collect debt payments. Last year, financial analysis platform CB Insights included TrueAccord in a list of 250 fastest growing financial technology startups.
To date, TrueAccord has raised $30 million in capital.