There are a lot of fintech companies which are a wrapper of varying thickness over an underlying provider which was willing to do a smart bizdev deal but wasn't capable of shipping their own modern mobile/web experience.
... against the traditional expectations of most underwriting processes. Examples include "their growth rate would look suspicious at other businesses of their size", "they may not have financial sophistication matching the numbers at play in their business", and the big one:
-
-
"A startup can be losing money regularly, in fact losing a lot of money regularly for years, but still be an *excellent* credit risk. Underwriting processes for small businesses are designed to detect this condition in companies and fire them out of a cannon."
-
I would add: to avoid being fired out of a cannon, many founders put their personal credit on the line to get a card, so you may hear them complain about that. International founders may not have a credit history for this to be an option, though
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.