Lending in frontier segments, with Todd Kleperis (Payzel)
How to Lend Money to Strangers
Brendan le Grange
4.9 • 43 Ratings
🗓️ 25 August 2022
⏱️ 25 minutes
🧾️ Download transcript
Summary
Not all bankers wear suits - some, like Todd Kleperis, are built for frontier markets. It has been a decade since Washington and Colorado legalised the use of cannabis, and 17 States have followed suit, but with federal legalisation not yet on the books, most banks in the United States remain wary of the £33 billion industry. This, in turn, leaves the fast-growing recession-resilient sector starved for credit.
Forged out of frustration with this status quo, Todd and his team built Payzel to fix this, and are offering banking and funding to cannabis businesses, both startup and established. More on Payzel can be found at https://payzel.com/ or on LinkedIn at https://www.linkedin.com/company/river-florida/
And it turns out, cannabis isn't the only industry considered too risky to touch, so Payzel have expanded into other frontier market spaces. The Sea Pods we spoke about have just been launched this week, so head over to https://oceanbuilders.com/ for some modern living design inspiration
You can learn more about myself, Brendan le Grange, on my LinkedIn page (feel free to connect), my action-adventure novels are on Amazon, some versions even for free, and my work with ConfirmU and our gamified psychometric scores is at https://confirmu.com/ and on episode 24 of this very show https://www.howtolendmoneytostrangers.show/episodes/episode-24
If you have any feedback or questions, if you would like to participate in the show, or if you'd like to find full written transcripts with timestamps head on over to HowtoLendMoneytoStrangers.Show
Regards,
Brendan
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Transcript
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| 0:00.0 | You can see clearly that over the last couple years, including with the pandemic, there has been no down turn in the cannabis industries. |
| 0:07.0 | It's actually been growing exponentially. |
| 0:09.5 | We're a financial marketplace for the industries that are what we call frontier, hemp hydroponics, cannabis CBD. |
| 0:17.5 | We have multiple banks we can introduce them to. |
| 0:19.5 | And then on the backside, where we make our money is in the lending process. |
| 0:22.5 | So when somebody like Brendan wants to expand his store or he wants to go grab some inventory or wants to buy some lights and he needs to finance it. |
| 0:29.5 | The fact is I am not going to be able to monetize this episode. |
| 0:35.5 | For reasons that really underline some of the points that Todd Claipers raises in it. |
| 0:40.5 | It may have been a decade since Colorado and Washington first legalized the recreational use of marijuana. |
| 0:48.5 | And many states and territories and indeed many other countries may have followed since. |
| 0:53.5 | But the people in businesses working in what is now a $25 billion legal cannabis industry. |
| 0:59.5 | Still struggle to access financial services. |
| 1:02.5 | Hazel is a fintech that is dedicated to putting that right. |
| 1:06.5 | And indeed to serving all high risk frontier industry segments. |
| 1:10.5 | Welcome to Heartlein Money to Strangers with Brendan LeGrange. |
| 1:24.5 | Todd Claipers, founder of PayZel, as well as a few other businesses actually. |
| 1:28.5 | I am delighted to be chatting to you today. |
| 1:31.5 | You are not a traditional banker I think it's fair to say. |
| 1:34.5 | Certainly you're not somebody who is going to be doing something just because that's the way we've always done it in the industry. |
| 1:41.5 | So before we find out what you're doing today. |
| 1:44.5 | Would you mind introducing your background and the sort of experiences you've had that have shaped you into the type of fintech entrepreneur that you are today? |
| 1:54.5 | Well thanks Brendan. I appreciate that and you know I am absolutely not a banker. |
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