jon-fry

3 ms·

1.
by jon-fry 6y ago
We handle everything (all support and onboarding) until the funds are disbursed by a 3rd party lender/funder. This is to keep the experience consistent across all of our financial institutions. Our platform partners makes money by earn
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by jon-fry 6y ago
Not yet, although the UK is coming up soon for Lendflow. EU will be a bit later but is on the way as well.
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by jon-fry 6y ago
The platform would not then pay a % fee on loans it issues. They would only pay the subscription fees and any fees for using services through the API.
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by jon-fry 6y ago
that's right!
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by jon-fry 6y ago
1. We do vet lenders. We focus on bringing on the lenders with the best service, tech and reputation. We don't bring bad actors in the space, and if they don't service the borrowers well they are removed from the platform. 2. Ther
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by jon-fry 6y ago
We can help you serve Canadian customers as well. You are indeed a fit!
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by jon-fry 6y ago
You can do that, we have several customers launching a product for this purpose. You can also build services for a broader set other use cases. Including financing purchases like inventory, equipment, supplies, inventory, real estate, ect.
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by jon-fry 6y ago
Definitely understand where you’re coming from, I think you're looking this through the lens of the way these types of programs have worked in the past. With us, these are always your customers, we're just allowing you to launch y
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by jon-fry 6y ago
Yes, that's right. We have an endpoint where we can generate prequal offers for a business based on the transactional data. We can also incorporate into the package we send to lenders to get business improved loan pricing.
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by jon-fry 6y ago
Those are companies providing consumer loans placed in a ecommerce checkout workflow. We're focused on business funding options placed in a broader set of workflows. Think lending services in workflows based around payments, procuremen
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by jon-fry 6y ago
Marketplaces are great, but the lending product would be to the businesses on the marketplace. Not the consumer side.
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by jon-fry 6y ago
1. I think the main draw depends on the objectives of the customer. For many the priority is going to be improving retention, but for others it may be increasing revenue per user or driving adoption of another product or feature. Ultimately
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by jon-fry 6y ago
There's definitely some areas of overlap in that we're both offering the ability to add financing to a use workflow. Some differences are that we're focused on small business while Klarna is focused on consumer. Another is th
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by jon-fry 6y ago
We've been building in the space for a number of years on previous products/companies. It's been a long learning process. All in all, I'd say at least that has gone into it!
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Launch HN: Lendflow (YC W21) – Infrastructure for embedded lending services
62 points by jon-fry 6y ago|35 comments