Wells Fargo announces its technology banking team in Utah, led by Josh Creer, which aims to support local startups across software, hardware, fintech, and other tech sectors, reinforcing the bank's long-term commitment to Silicon Slopes.
Salt Lake City — July 9, 2025
Wells Fargo has launched a dedicated technology banking team in Utah, signaling a deeper commitment to the state’s rapidly growing innovation sector. TechBuzz spoke with Josh Creer, who leads the new Salt Lake City-based initiative. A veteran of Wells Fargo’s commercial banking division, Creer transitioned into the tech-focused role earlier this year.
“For years we’ve had strong tech banking teams in markets like Austin, Denver, and the Bay Area,” Creer told TechBuzz News. “But with the pace of growth in Utah and the concentration of startups in Silicon Slopes, it became clear we needed a dedicated local presence.”
Wells Fargo’s technology banking practice draws on over 25 years of industry experience, with $3.85 billion in commitments and $11.4 billion in operating exposure within the tech sector nationwide. The 130-person team has built referenceable relationships with more than 1,300 clients and several hundred venture capital firms, enabling seamless introductions to C-level executives and board members.
This connectivity, combined with tailored solutions that support companies across every stage—from early startups to mature firms preparing for IPO or acquisition—positions Wells Fargo as a full-spectrum partner for Utah’s tech ecosystem. Creer emphasized that the bank uniquely blends specialized industry knowledge with the strength and scale of one of the largest commercial banks in the U.S.
Covering the Tech Lifecycle, from Pre-Revenue to Exit
Wells Fargo’s technology banking group takes a full-lifecycle approach, offering products for companies ranging from early-stage startups to late-stage, pre-IPO firms, according to Creer.
“We can start small with companies that are pre-revenue and help them scale through Series A and B rounds,” he said. “As their business models mature and become more complex, our platform can scale with them—whether it’s handling foreign exchange as they go international or supporting M&A and IPO preparation.”
That full-spectrum service offering, Creer emphasized, is backed by dedicated tech-focused teams in lending, treasury management, and investment banking.
Local Reinvestment Culture a Unique Utah Strength
Creer also highlighted a Utah-specific practice that sets the state apart from many other startup hubs: founders and investors tend to reinvest locally.
“One of the most intriguing things about Utah is that when entrepreneurs exit, they tend to stay here and put their capital back into the local economy,” observed Creer. “That’s not always the case in other markets. It’s part of what makes the ecosystem here so resilient.”
Sector Focus
Wells Fargo’s Utah tech team is concentrating on six core verticals:
On the clean tech front, Creer said the team is engaging with companies developing platforms to monitor and optimize energy usage—part of a broader move toward sustainability-focused software.
Notable Deal: Alianza Acquisition Financing
Creer pointed to a recent example that underscores Wells Fargo’s activity in Utah: Alianza's $130 million acquisition of Metaswitch from Microsoft. Wells Fargo led the financing of the deal, which involved acquiring a subsidiary from another tech firm.
“I joined the team as that deal was already underway, so I won’t take full credit,” Creer noted. “But it’s a great example of what our platform can support—complex, high-value acquisitions involving Utah companies.”
Technology-Driven Banking: API Integration and AI Tools
In line with its tech-first clientele, Wells Fargo has invested in automation and integration features. According to Creer, the bank offers real-time API integrations with ERP systems so that finance teams can manage banking and accounting from a single interface.
Additionally, its treasury platform uses AI-powered tools for integrated receivables—automatically categorizing inbound payments and streamlining reconciliation for SaaS and B2B companies managing complex billing operations.
Looking Ahead: A Strategic Foothold in Silicon Slopes
Creer is currently the first dedicated Wells Fargo tech banker based in Salt Lake City, but the move signals deeper plans for local investment and growth.
“We may be new to this market physically, but we’ve been doing technology banking for over two decades,” he said. “This is just the beginning of our local push.”
As Utah continues to rank among the fastest-growing states for entrepreneurship and population growth, the arrival of Wells Fargo’s tech banking team marks another vote of confidence in the region’s staying power.
