A well-oiled machine
June 27, 2022
A company at its best is a well-oiled machine where each component part succeeds to contribute to the overall functionality and success. At companies like ours, the high level components are below:
Sourcing a Customer
Borrowers
Underwriters
Investors
Converting them
Borrowers - Diligence and onboarding process
Underwriters - The strength of our technology and borrower pipeline
Investors - Attractiveness of borrower opportunities
Retaining them
Borrowers - Support through their entire debt capital markets life
Underwriters - Expanding functionality for more and more of the transaction flow
Investors - Servicing and supporting their needs
We have spent so much of our time to date working on finessing and perfecting the conversion and retention especially given our need to both learn what technology to build and generate revenue in the interim ahead of real scale. Now, in preparation for third party underwriters and the expectation of Series B investors, we need to prove that our sourcing capabilities are just as strong as our conversion and retention rates. As we've been revamping our materials for the Series B, these metrics are coming to light and we've been doing an incredible job of powering this engine for growth.
We've taken strides to master our lead generation engine on the borrower front especially as we opened up Sync to borrowers and self-registration in Q4 last year. Even though sign ups have come down, the quality of applications and leads has gone up, which is exactly what we want to see.
On the investor acquisition front, it's all about how long it takes for us to make back the cost it took to acquire them. Post-broker dealer, we will be able to charge [ ] off of all dollars outstanding and as such, our payback period happens within around [ ] months. This is an industry-best, most SaaS companies take [ ] months or more.
We've already doubled down on our efforts for conversion and retention, it's fantastic to see the sourcing component do its part to feed our own well-oiled machine.
Last four days of the month, let's close out as many of these June objectives as we can 💪
