Pound
Asset-backed lending. You're the asset.
S23IndictedFintechLendingTens of millions of Americans are locked out of credit because they have no collateral. This is false. Every one of them is walking around with $600,000 of redundant, high-demand, fully depreciated inventory. They have two kidneys. They need one.
Pound offers loans secured by what you were born with. Underwriting takes nine minutes and one blood panel. Rates start at 6.9% APR for borrowers under 35 with good renal function. We publish our loan-to-kidney ratios quarterly, and they are conservative.
People ask about defaults. We have never had to collect. Our borrowers are the most motivated repayers in the history of consumer credit, with a delinquency rate of 0.02%, and both of those people called ahead.
The indictment concerns a narrow question of interstate commerce and we are confident it will be resolved. Shakespeare raised the same objections in 1598 and the business model has outlived him.
Active founders
Maximilian Drury-Okeke
Founder & CEO
Ex-subprime auto lending. Says the repo side of that business taught him that collateral only works if the borrower really, truly wants to keep it.