Resoundingly positive

July 3, 2023

Over the past week we've inadvertently stumbled into meetings with prospective underwriters who are intrigued by our value proposition for the white labeled solution. Discussions that were supposed to be about partnerships in some way shape or form have led to demos of the product.

The feedback has been consistent and resoundingly positive. We've had people who have worked in the industry for years, traded tens of millions of dollars in private credit on a monthly basis, tell us that what we've built is incredibly powerful and ask how they can get their hands on it. We've had groups who are looking to build a marketplace in a brand new region that we've never transacted in before ask whether there's an opportunity to run their own market themselves. We've had large asset managers ask if we can support them on one of their biggest pain points because they have the rest figured out.

What's been fascinating to observe is that each use case is just slightly different. Across our 5 S' (sourcing, structuring, syndication, surveillance, servicing), rarely is there a need for all five but everyone needs at least one. This puts us in a great position to have broad-based market penetration with the ability to cross-sell new features and functionality over time.

We've struck a nerve with the market, now it's on us to deliver in the back half of this year to show just how powerful an end-to-end software suite for private credit can be 🚀