Froda

“If you keep the bank's risk appetite and build a fantastic product from a text tech and UX perspective, you're still not going to be able to serve the like 70% that we do. You would be declining 90%.”

“The average APR, just to put it into context, is with us is 16%.”

“I mean, the average loan size is 23,000 dollars, so yeah, you have to do the math.”

“I think we could probably charge more because just as you said, they don't find external financing elsewhere, or at least it's not abundant.”

“We are profitable today, so we don't really need to raise money.”

“So, so far we've supported a 150,000 small businesses and that's one of our super important KPIs.”

“Before This current macro squeeze, we were around like three. It's a little bit elevated now, but we project that we will go back to around the three, 3.5%.”

“Yeah, that's the ARR.”

“The full embedded lending journey from a first origination window all the way down to balance sheet is on us. So we have the full infrastructure layer. We have the balance sheet. We have the whole regulatory framework required being a bank ourselves to enable …”

“And what we're doing with Sparbank One is really complimenting them. So they take the larger ticket sizes. They take the larger corporations on their own balance sheet. We take care of the smallest.”

“So we need to hold some buffer for losses, and basically we take that loss up front, right? So if we lend to a customer, we have to take cost for loss as soon as we do the payout. And I, it's about three to five percent.”

“We've raised forty nine million to date.”

“So last year we did about fifty-seven million. Something like that?”

“Current outstanding balance is about half a billion.”

“Instead of doing one country greenfield establishment, we've been able to scale into, to six new countries or yeah, seven currently building for France at a much higher pace than we could do if we were doing everything on our own.”

“In terms of growth, it's been a challenging macro the latest come of years, but we still had a growth Of about 30% year on year”