rogereur

"Shallow men believe in luck. Strong men believe in cause and effect."

You don't seem to understand fusion

Could this work as an alternative to Mighty?

I think wars in the future will be about who's better at computer science. It will be programmers vs programmers, and computer literacy will become the new military service and a national security interest

Yes, exactly. It’s just like that but think as if SEARS had built the bank itself. It’s crazy but here literally two of the largest banks were created this way

Did you have any personal experience on this? We get this a lot, specially from investors, but so far have very manageable levels of loan losses with $1.5m already lent. We haven’t seen that even during COVID-19

In Mexico and other countries in LATAM, there are huge department stores that have built their own banks to give their customers credit to purchase on the store. Combined, these stores have ~20 million customers and are some of the largest banks in Mexico.

Our solution it's focused on these customers, who already have some sort of credit but find paying their purchases on installments easier, more affordable and transparent than getting with a credit card.

We are enabling other merchant that aren't as big or don't having the ability to offer financing to offer this option to the customers.

It is! And also the name comes from the Atrato river

We hope it will. At least we will try :) There are some specific things about Brazil that are materially different to our experience but will be exploring other countries

Yeah. Something we've discovered is that merchant fraud is more common with smaller businesses, so that's a challenge. There's also a natural concentration of merchants. Like Affirm drives 30% of their revenue just from Peloton. We will see something similar.

We do want to build for small businesses and merchants. We do actually have many of them, work with a lot of local bike dealers, auto shops, small electronics stores and they are happy they can offer financing to their customers. If they don't have an ecommerce or website we give them a magic link that they can send their customers through WhatsApp/Facebook.

Theres a company called Heru. They do all kinds of services for gig workers. It is definitely an interesting data-set to underwrite, you can connect to the apps APIs and pull a lot of data of these people and potentially create better financial products for them

Thanks! It is a historical regional problem and we've seen that installments in the region are pretty popular.

The name comesfrom the Atrato River, which is a river that connects central america with south america and provides a safe way for travelers while passing through the rough and dangerous terrain of the Darien Gap. And yeah, also means that you pay "on deal" :)

Thanks! The name is two-sided, means "doing on a deal" on literal spanish and also comes from the Atrato River, which is a river that connects central america with south america and provides a safe way for travelers while passing through the rough and dangerous terrain of the Darien Gap.

We do work with online and offline merchants. Fortunately in Mexico regulation on credit is not restrictive on credit, the most important regulations are around AML and KYC.