June 12, 2023

It's an interesting time in technology as we've seen AI come at full force to the point where it almost feels like that's all anyone can talk about. To its credit, it has done an incredible job at bringing a sense of wonder as we are in awe at its potential. Still, we're very much in the early innings and it's a technology that has delivered uneven results.

June 5, 2023

Building a company with longevity can often be compared to getting a massive freight train to move. You’re adding cars to the train by building all the components of the product and you’re priming the engine by putting in place all the operational structures it takes to scale. Every little win, every small success, and the gears start to turn but it’s still slow going early on. The train crawls forward inch by inch and all the effort being put into it doesn’t seem to compare to the results.

May 22, 2023

It's been a long road to get here and I recognize that the path itself has been difficult. We were forced to make hard decisions, rein in our spending, and oftentimes that has led to us having to change our culture to adapt to the new normal. While we've been able to hit the ground running this year with an incredibly strong start, we've also ended up losing some of what makes our team tick.

May 15, 2023

Today marks an important milestone in our company’s life. Five years ago to the day, we officially incorporated ourselves in our small office in Tribeca that we shared with a few other companies. Five years later and I could have never imagined we’d be what we are today.

May 8, 2023

As we've been wrapping up the last remaining items for the Series B, we've seen palpable demand from so many investors who were forced to be left out. In market conditions that are more favorable, it's normal to just leave the demand as is and prime them for the next round of financing. In times like this though, it's never a bad idea to pad the war chest and prepare for the what ifs that could happen in the coming quarters ahead.

May 1, 2023

Companies are defined by key milestones in their history where their business evolved and took the next step towards their future. We've had many in our past, the most recent of which was our shift towards taking a step back away from underwriting our own deals and pushing for every new borrower to be paired with an underwriter starting in January of this year.

April 24, 2023

And that's that. We're done. We've successfully closed on our Series B. There's of course still a few administrative items to get to the finish line but all the commitments are in and ready to be signed for and wired. Amazingly enough, we were actually oversubscribed, with several groups this past week trying to figure out how to squeeze into the round with checks as large as up to $[ ]M beyond this $[ ]M we already have committed.

April 17, 2023

It was a good week. Starting things off on Monday with a $[ ]M commitment from [ ] was a huge win. Following that up with another full day of diligence with [ ] on Wednesday just kept that momentum going. [ ] has done a tremendous amount of diligence work on us already, with many of you involved in that process.

April 10, 2023

As Q1 numbers start to roll in as well for the rest of the industry, it paints a sobering picture of the tech and startup ecosystem as a whole. Just 21 Series Bs were done in fintech in all of Q1, averaging $25M. It’s important to note that these are just reported fundraises, meaning most of these probably closed in Q4.

April 3, 2023

With that, we've officially closed the books on Q1. For the first time ever in the company's history, we've managed to post three consecutive beats on revenue and also the highest quarter ever for technology revenues. This is no small feat, especially in as volatile and unpredictable a year as this.

March 27, 2023

Some stats came out recently about just how difficult it is to fundraise in this environment, particularly for Series Bs. Historically, Series Bs have always been the most challenging as companies at this stage are moving beyond product market fit and for the first time are using the new growth capital to scale the business.

March 20, 2023

This past week, across continents, across time zones, across teams, we came together to solve the many different challenges and problems thrown our way. Over the last weekend, we put ourselves out there as a viable bridge financing platform for startups staring down a situation where their operating company cash was trapped at SVB.

March 13, 2023

It's certainly been a hectic last few days so I wanted to share our weekly team email with you earlier than the usual at 8AM on Monday mornings. It was an almost unbelievable week but not in the conventional sense of the word. In what felt like shades of 08/09, we had the second largest failure of a bank in US history when Silicon Valley Bank shuttered its doors on Friday.

March 6, 2023

Another month in the books and another month of further validation of the diversity of revenue streams we have at our disposal. Revenue came in at [ ] and more importantly, we had initially forecasted a [ ]d increase month over month from Jan to Feb in terms of revenue and we were still able to meet these lofty targets. As a result, we're coming in ahead of our YTD forecast of $[ ]K in revenue by [%, the first time we've ever been able to meet and exceed targets on a consistent basis.

February 27, 2023

It’s going to be a busy week as our team is dividing and conquering several conferences and events in Park City, Las Vegas, and San Francisco. The theme for all three is driven entirely by our search for capital from investors, particularly those Qualified Purchasers we had mentioned in the last all hands.