Burnside: LendingPoint generated $330M in net revenue in 2021
Tom Burnside · LendingPoint Hits $600m ARR, Will Profit $120m on AI platform for consumer loans · Apr 7, 2022 · at 17:02
Tom Burnside, CEO of LendingPoint, breaks down the company's 2021 net revenue after paying warehouse credit line providers.
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“Here in 2021, we were at about three hundred and thirty million. ... This is basically, this is our net revenue, right?”
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Burnside predicts LendingPoint will reach $120M in net profit in 2022
“We're making money. We'll, we'll make a hundred plus this year. A hundred million net. Yeah. A hundred, a 120.”
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“The team we have here raised about two hundred and twenty million dollars of friends and family just really no outside rounds, but friends and family, we raised that over, Yeah. Over about probably four or five different tranches that we re-raced it, but we di…”
Burnside projects LendingPoint will hit $600M in net revenue for 2022
“And we'll be around six hundred million this year.”
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“We grew a 144% year over year, 20 to 21. ... We went to 2.1 billion And 21 which is a, you know, a huge you know, a huge growth, but we slowed down a little bit during COVID in 2020. But then we had, you know, just significance would close a little under a bil…”
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“We can easily get to a billion to 1,000,000,005 with what we have right now. It's a combination of warehouses, ABSs, forward flows, you know, bank commitments, things of that sort that make that happen. But you know, we know we can get to at least a 1,000,000,…”