Nathan Latka

They've scaled nicely today in a capital efficient way.

They put out or they generated, they get 5,000 applications per month.

They send out offers about 1,300 of those.

Some portion of those are accepted and approved.

The business in 2023 did quote about 70 million bucks of revenue.

Alex is constantly thinking about how do they keep their both default rate low, which is 16% if I'm remembering properly, and then actual charge off loss rate, 6.8% of that.

Those are good economics.

They optimize for about

a 16% take rate NIM sort of all in, which is very healthy.

91 folks full-time on the team.

They're funding these deals with prom notes on their own balance sheet, and then also sourcing some of them out to capital partners as well.

Check them out at funkite.com.

Alex, thanks for taking us to the top.

Thank you.

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