Sramana Mitra: How did you get your first customers? Alex Armitage: We have some other businesses. A couple of them are e-commerce companies. We knew that space quite well. We knew that this was a problem. We had hundreds of relationships with companies in various industries. We had hundreds of contacts in that space. We
Sramana Mitra: The trend that I’ve seen in this market is, people zero in on one set of data and develop a set of heuristics based on which they are making these decisions. You look at Kabbage for example. They weigh heavily on online transactions. They are willing to lend against that transaction volume. That’s
Sramana Mitra: You started with the dozen beta customers who ordered the product in advance. You built the product. They came on board as paying customers. They brought on 400 to 600 prospects. Alex Armitage: That’s a simplification of it, but that’s essentially how we’re moving forward. It’s a huge problem. Thousands of companies are
One of the biggest trends in FinTech is digitizing and speeding up the credit application and approval process. Another trend is using proprietary data to bring new financing options to cater to different segments of borrowers. Alex discusses a very interesting niche context within which he’s building a wonderful FinTech company. Sramana Mitra: Let’s start
Alex Armitage, CEO and Founder at Nectarine Credit, discusses a very interesting niche context within which he’s building a wonderful FinTech company. One of the biggest trends in FinTech is digitizing and speeding up the credit application and approval process. Another trend is using proprietary data to bring new financing options to cater to different