Pastine: Hipotecalo lost IP rights on software built with partner developers
Jorge Pastine · Hipotecalo Does $15m in Home Buyer Loans, Charges 13% gives investors 7%, they make the spread · Jan 10, 2021 · at 12:44
Jorge Pastine, founder of fintech platform Hipotecalo, discusses a failed attempt to commercialize software tooling built with external developers.
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“They own it. We lose that, that deal.”
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More from Jorge Pastine
Pastine: Hipotecalo scaled loan portfolio from $5M to $15M in year two
“Well, basically at the beginning, we reached five million dollars portfolio, and now we are fifteen million dollars in our second year, and we expect that twenty-five millions for the start.”
Pastine: Hipotecalo averages a 13% borrower rate and 7% funding cost
“Basically the average interest rate that we charge to the lenders is something around 13%, and the cost of funding is something around of seven percent.”
Hipotecalo avoids residential mortgages to target unbanked agricultural borrowers
“Different because basically the residential mortgages sector is financed by the banks. And we focus on other we detected another niche of for our case, which is the people is not bankrupt as usual because That's the case of the agriculture, for example.”
Pastine: Hipotecalo partners will inject capital for initial $5M portfolio
“Basically we'll, we will inject some capital the partners will inject some capital in order to fund an initial portfolio of five million dollars.”
Pastine: Hipotecalo rolls over loans annually for agricultural borrowers
“Suppose in case we have agricultors that, that we make rollovers in that time every year. Not consistently, but every year we have made a rollover With some of them, because they finance the campaign, the difference campaign every year.”