jess-zhang

6 ms·

1.
by jess-zhang 2y ago
curious how's this different from pingdom, datadog etc?
2.
by jess-zhang 3y ago
thank you! good callout there -- we've some flexibility w pricing (pay as u go vs more fixed costs) - some of our customers pay fixed AYCE like pricing, while others more variable based. also, most existing solutions like canopy, peach
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by jess-zhang 3y ago
thank you for the support!!
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by jess-zhang 3y ago
thank you!! interesting to hear similar pain points from all diff parts of the world!
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by jess-zhang 3y ago
glad u asked for more context! for example, a fertility service provider can use Pier to launch "pay later" & financing for its patients. fertility treatments like IVF, egg freezing are typically $10-25k, not covered by insura
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by jess-zhang 3y ago
neat idea! curious how you're planning to apply credit to this use case u mentioned here?
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by jess-zhang 3y ago
indeed, funny u say that! some of our customers are in fact replacing affirm ;)
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by jess-zhang 3y ago
ahhaha thx! for now we're more focused on end-to-end credit stack for the US (it's already a lot to keep us busy for a while!) would def be very open to international expansions down the line! saw some comments around similar pain
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by jess-zhang 3y ago
yup, it's pretty configurable & flexible to the customer's KPIs. i've got a more detailed explanation above about how we do underwriting & risk.
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by jess-zhang 3y ago
thx for the feedback!! we'll keep that in mind
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by jess-zhang 3y ago
we're not as familiar with that part & UK operations. what do u mean by "multi-entity" requirement?
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by jess-zhang 3y ago
yup totally! we can do most of the heavy lifting there to get you the licenses. we automate a lot of this w templates & also given our prior experiences getting these licenses and building relationships w regulators, so we know how to b
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by jess-zhang 3y ago
hahah thank you! funny enough alex & I both have worked for JPM before
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by jess-zhang 3y ago
We don't do collection. Our customers own the loan receivables and they have the option to decide how they want to handle collections. there's a lot of flexibility and options here, depending on their business model and incentives
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by jess-zhang 3y ago
yup we can support both use cases!
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by jess-zhang 3y ago
Sivo provides the debt, using their underwriting structure. We don't provide debt. we provide an end-to-end credit infra that covers origination, compliance, loan management, credit reporting, etc. one other call out is that we allow o
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by jess-zhang 3y ago
underwriting and offer terms can be configured to each use case, depending on a few key factors: 1) applicant data - kyc, bank balance, credit score etc (pretty generic stuff here) 2) our customer's proprietary data - unique platform
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by jess-zhang 3y ago
thanks for sharing! yup you're right the balance sheet part. we currently don't offer debt capital/take on the balance sheet. we learned firsthand from our last company that if u start by offering balance sheet, you'd at
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by jess-zhang 3y ago
and to ur 2nd question - yes, we integrate closely with debt providers & SPV setups and are the 'neutral' source of ledger here too. depending on the set up, we can pull funds from lender or debt facility accounts, and put rec
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by jess-zhang 3y ago
we've a pretty robust compliance team to verify and make sure that our APIs reflect the latest regulatory requirements and state/fed thresholds. we also always go back to the source, ie read all the applicable state & federal
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by jess-zhang 3y ago
1) see response above 2) a lot of existing solutions such as loanpro are good at supporting "vanilla" credit products, but tend to struggle with "chocolate & sprinkles on top" like configurations. we've talked t
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by jess-zhang 3y ago
we support both consumer and business! some business use cases include working capital for SMBs, merchant advance, BNPL, trade credit, etc.
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by jess-zhang 3y ago
Licensing is one of our modules. like other modules, our customers have a choice (think picking from a salad bar) of what they want based on their use case. for licensing, you can BYO, leverage Pier's licenses, or we can help you apply
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by jess-zhang 3y ago
we handle anything from $0 to $50k+. our API bakes in all the nitty gritty of diff APRs, amounts, fees, interest calc methods based on state & fed regulations. For example, KS has cumulative APR calc method with 36% for <=$860, 21% f
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by jess-zhang 3y ago
yup! we can support both consumer & business borrowers. "pay-later" solution is a quite popular application of our product! one callout here - it sounds like you're looking for someone to take on the balance sheet/co
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Launch HN: Pier (YC W23) – Stripe for Credit
176 points by jess-zhang 3y ago|75 comments