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Fun kite was launched back in 2015 on a dream and an idea.

They've scaled nicely today in a capital-efficient way.

They put out or they generated, they get 5,000 applications per month.

They sent out offers about 1,300 of those.

Some portion of those are accepted and approved.

The business in 2023 did quote about 70 million bucks of revenue. Alex is constantly thinking about how do

they keep their both default rate low, which is 16% if I'm remembering properly. And then

the actual charge off loss rate, 6.8% of that. Those are good economics. They optimize for

about a 16% take rate nym sort of all in, which is very healthy.

91 folks full time on the team.

They're funding these deals with prom notes on their own balance sheet and then also

sourcing some of them out to capital partners as well.

Hey folks, my guess is Alex Schwartz.

He's a CEO of Fun Kite, one of the fastest growing fintech companies in New York that

provides funding to small businesses across the U.S. The company was founded in 2015 and his company utilizes a boutique funding style offering

business owners a flexible variety of products and services that can be tailored to fit their

individual needs. Before Funkite, he engineered and sold proprietary technology to the greater

fintech industry. Alex, you're ready to take us to the top? Let's do it. All right.

Just to get us all in the right frame, right off the bat, give us your sweet spot deal.

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