Brigit

“That is why cash flow data, the information in someone's bank account relative to the old school FICO or your TransUnion Experian Equifax credit score, I would argue is far more useful for this use case, and which is the only core piece of technology that our …”

“15 people, twenty million odd in ARR and COVID hits. And at this point, we've never been profitable”

“The reality is when we started our company, banks, We're making about thirty billion dollars in overdraw fees. Thirty billion dollars.”

“Including loan losses and marketing, because we were growing. 20, 25% a month.”

“Nothing is better than customer number one, and nothing is better than one than customer number hundred, and there's a lot of learnings between so much learnings of one and hundred, and then you start to scale out. Right? But that point of having customer numb…”

“This was before our launch, because our beta, I mean, our early, our customer number one was six months or something post that, and we did our series A in 2019, but by that time we had gotten 10 plus million in ARR.”

“The underwriting and the fraud tools that we, we've built all in-house, combined with the data that we use, again, only cash flow, help us restrict fraud to well under, the way we would define it, under, it was 20 bips of all our losses.”

“The three companies that existed, including us, in some form trying to solve this problem, and we were all doing it differently. The business models, we never had tips, for example, and our core focus was just only using cash flow data Including being able to …”

“It was an opt-in feature, and that helped us to get from our first zero to 10 to twenty million in ARR, because people found it significantly cheaper, as you can imagine. It was a 10 dollar monthly subscription for all you can need, and there are other product…”

“So we did have a couple of months of negative revenue, but that's when we started to say we really, really focused also on the business”

“If I remember correctly, the first facility we did was about five, six million, with some actual institutional investors, equity side and credit side, as well as individual investors come in and pay, and we paid them a coupon.”

“Right after our Series A Facebook decided that, that, that some aspects of FinTech, they didn't understand, so they just shut, shut them off. So our main acquisition channel, good news, it wasn't just us, fundamentally shut off, and we had to figure out other …”

“We had an investor who, this is Nyka, God bless them, before they became our investor, got us access to a payments rails at Silicon Valley Bank. Again, this is not like pick up the phone, you've got 15, ah, BAS vendors out there, every bank wants to take a cal…”

“I was able to, for the first four months, even after founding the company, four or five months, was able to fund it myself. And then we raised our seed round led by DCM at that point in time. We're also investors in SoFi figure among others in January, 2018. I…”

“And soon after that, we raised a hundred million dollar, approximately a hundred million dollar credit facility from a social impact fund called SEM, who were being great partners with us.”

“There's just the user demographic is, is almost a hundred percent or the demographic profile is almost a hundred percent overlap, but the overlap of the actual customers is only about 10%. So it's a massive crossover opportunity in the millions.”