The new division will have teams in San Francisco, Boston, New York, Los Angeles and Palo Alto, Calif. The division will offer recurring revenue lines of credit, term loans for mergers and acquisitions and treasury management products.
“The technology and life science community is looking for the next leader in banking, and Axos has the financial stability, entrepreneurial spirit, and client-focused model to become a trusted partner,” Greg Garrabrants, Axos’ president and CEO, said in the release. “Axos will offer a comprehensive set of banking solutions, supported by turnkey technology and responsive client service.”