Candescent scales India team to 1,000 employees across 3 cities
U.S.-based fintech company Candescent is going big on India, having already scaled its headcount in India to 1,000 from around 600 a year back and expanding to three cities.
The team here has already jumped from 600 to 1,000 employees in just a year.
COO John Garvey says India is a critical market for us, especially since so much of its engineering and design talent is based here.
Candescent automates about 80% of coding
Candescent builds digital banking systems used by about 30 million people, roughly 15% of active US accounts, serving around 1,300 financial institutions, mostly in the US.
It's using AI to automate most of its coding (about 80%), and key roles like the head of AI engineering are based in India but work closely with teams in Silicon Valley.
Backed by major investor Veritas Capital and valued at $2.4 billion in 2024, Candescent is betting big on Indian tech talent for its global growth.