From StarTribune’s Inside Track | January 21, 2012
Lower northeast Minneapolis has landed a little technology business in historic digs. Terrapin Technologies, which provides back-office technologies for bank-owned securities broker dealers, has moved its 15-person staff into renovated space in the 110-year-old Banks Building with room to double in size.
“This move puts our company in the heart of the Minneapolis business community and will be a key element of strengthening our nimble, creative and innovative culture,” said Kristefor Lysne, president of the family-owned company that relocated from the northern suburbs. “We’ve got enough room … to double the number of employees in this space. We were just a one-bank consulting company and we’ve become a growth business. We’ve got several banks [as customers] among the 20 largest banks. “
Terrapin’s flagship product is an integrated collection of tools and processes called Pandia. The company’s clients include Capital One Bank and North Carolina-based BB&T. Lynse, 40, whose father started the company, said Terrapin has no Minnesota clients. Yet.
The historic Banks Building, a couple of blocks from the Mississippi in resurgent lower northeast, was constructed around 1900 and for years housed wholesale furniture companies as a part of what was then known as “Furniture Row.” It once housed the M.F. Bank & Co. retail outlet. The building, 615 1st Av. NE., was purchased and renovated into offices by Schafer Richardson in 2000. Tenants include Media Loft, Make-A-Wish Foundation and a campaign office of Sen. Amy Klobuchar.