LendAPI Weekly Update - Oct 5th 2024
Wins / Losses / Asks
Wins
Kansas City Visit: We met with Academy Bank and Caliber Financial. Academy Bank is a family owned bank based in Kansas City, Missouri. They have launched a few FinTechs with the savings angle (deposits) but might have a need to launch credit cards. I sent them our pitch deck and will follow up. Caliber is an existing client but there might be needs to use other parts of our platform to help them launch new risk strategies or new products quicker. I have a reverse demo setup with them as a follow up for them to show me what their system looks like.
Demos: I showed demos to 1st Franklin as well as Clear Nexus. Both of them are enthusiastic about our platform will think about how to use us to speed up their product deployment. 1st Franklin has 300+ stores and needs store specific strategy. ClearNexus is looking into a more transparent decision engine like what we offer at LendAPI. Their current vendor has abandoned their product. I will follow up with them. I also demoed our software again to PartnerlyHomes (ADU financing), CapMobFinance (South East Asia). We also demoed our Embedded Finance platform to MoneyLion.
Pitches: I pitched at Plug and Play’s San Diego Innovation Event (live). I also pitched at Plug and Play’s MoneyTech event (virtual). Two EIRs reached out and wants to invest along side Plug and Play.
Marketplace: We listed FastData as well as Chargeback Gurus to our marketplace. We will have more next week.
Interviews: I interviewed full time CSMs and Product Managers this week.
Clients: One client went live on their end (we already lit them up) on Saturday Oct 5th 2024. A few hours before this newsletter
Investor Calls: I had four investor calls on Thursday.
Fund Raising: Common shares issued to Techstars and then Plug and Play. We will finish up legal disclosure to all of our investors. Our goal is to close our seed round by the end of this month.
Losses
And I lost a lot of time traveling this week to Kansas City. I am making up for it now. My next trip is to Money2020 in a few weeks.
We didn’t launch HOALoan because they asked for another feature. We will try next week or so.
Asks
We would like to meet as many banks, point of sale financing companies of FinTech startups. I will launch a CDFI email campaign next week. Working with our marketing team to get that all sorted. If anyone can make warm introductions to CDFI banks, please let me know.
Contacts
Email: timothy.li@lendapi.com
Mobile: 614.209.9894
Calendly: https://calendly.com/lend_api/1-1
Pics and Vids
