Raf Howery

So it's really a very simple matrix.

It's pretty straightforward.

It's buy bands of addresses, buy product.

And then once you have that price, you add them all up and you apply the discounts.

I'm right now in the middle of something.

I cannot share too much about that, if that's okay with you.

But I would say the caveat is often it cycles between volumes, between summer and winter, and also between what the bank or, let's say, the fintech wants to do.

So I would say that that is, even though it's relatively consistent, it does fluctuate a little bit.

Yes, very clear right now.

We're seeing it actually very clearly in the pipeline.

And also there's a trend right now in the industry where I think a lot of the large institutions are focusing a lot more on retaining that customer post-transaction.

As you probably know, when you give somebody a mortgage, you're only going to interact with them when you send them the invoice.

And right now there's a whole sort of more focus on trying to stay close to that customer so that you capture the next transaction and you capture more share of wallet, more HELOCs, more car loans.

And that's not going to happen by dropping them after the transaction.

So this is where the value proposition is becoming more of the business case that most of the industry is looking at today.

No, we are mostly bootstrapped.

So we have only taken private money.

That's been the case, including some of mine.

And we lived within our means most of the time.

We try to be always near profitable, meaning that we try to stay profitable, but we reinvest.