Learning by doing

May 2, 2022

Our webinar last week highlighted the first of a few underwriters who are gearing up to join the platform when we officially launch the Underwriter portal to the public in a few weeks time. This is a watershed moment for our company, one where our ability to live up to the hype and realize our vision of becoming an infrastructure provider is realized for the very first time. We're incredibly fortunate to have the likes of underwriters like [ ] and several others in our pipeline who have the skillset, the network, and the desire to seek out innovation in an industry that's as archaic as they come.

The value we're bringing to this market cannot be understated - everything from sourcing a deal to structuring it into an investment product to syndicating it out to investors and ultimately to surveilling the deal after it's done is the full suite of services we're aiming to provide to users. This first batch of underwriters are familiar with everything we can do on the surveillance side of things. Many of them already rely on it today as investors on our platform or have realized how much effort this saves them when it comes to monitoring their borrowers' performance post close from prior experience. By not having to deal with surveillance, they can shift their focus to syndication and this is where we shine with the new features we've developed.

It will certainly be a bit of a bumpy ride with this first batch of underwriters to start as we're going back to square one to feed that learning engine of ours and understand how customers would use this product. Starting with syndication is the safest path as our internal team can be relied upon to do the co-underwriting with them and ensure the guardrails are in place. In doing so, we can say with confidence that they will uphold the same level of standards around diligence and deal structuring that we do today. This will also give comfort to our investors that we are still keeping an eye on things and making sure things don't go awry. As we learn more about how these underwriters want to structure transactions differently than we do, we can feed that back to Product and Engineering and begin to tackle yet another phase of this underwriting process.

It's an incredibly exciting time as everything we've been working towards is finally coming together and being brought to life. We'll have more to share around how co-underwriting will work in the all-hands this week ☀️