Hefetz: Fintech Lacks Innovation Due to Over-Focus on Unsecured Lending
Adena Hefets · 20VC: 3 Addictions Of Early-Stage Startup Founders, How Founders Should Strategically Think Through Unit Economics From Day 1 & Why Micromanagement Can Be Beneficial In The Early Days with Adena Hefets, Co-Founder @ Divvy Homes · Mar 13, 2020 · at 4:24
Adina Hefetz is the co-founder of Divvy Homes. She evaluates the fintech market when deciding what company to start next.
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“And I went back and I looked at the world of FinTech, and I was really disappointed to see that I just didn't think there was as much innovation being made as I would have liked to see. A lot of companies were still focusing on unsecured lending.”
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“Isn't the best case scenario that I've hired no employees and my revenue has 10 X'd? Like, why is the mark of a growing and successful company the number of employees they have? Which to me seems rather off.”
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“So yeah, debt is tremendously harder than equity.”
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“With a startup, you're living year to year. I mean, this isn't a, I have 10 years to build a company, because maybe if you're cash flow positive as a startup, you do, but today with Divi, you know, we're a capital intensive business. We are kind of managing in…”
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“I mean, for our company, we have a singular focus, which is a 100,000 homes for Divi families. The largest read in the U.S. Is about 80,000 homes, so we want to Topple that. And our clear path is just create an easier way to move into homeownership for a large…”