Speaker unverified: belief

Transcript context

…That makes sense. People might think of you as a software business, but I got a sense that you identify in a significant way as a fintech business. Is that a fair characterization? And maybe you can expand on that. Yeah, for sure. I typically think of fintech businesses in two different ways. The first way is, are you facilitating payments? And so there’s a sense of, are you in the payments flow? The second way that folks typically talk about fintech businesses is, do you hold deposits? Do you lend? Basically deposits and lending. Maybe also cards would be part of that. And so for us, we actually, from the very beginning, saw them as inseparable. We were just interested in solving our customers’ problems and in order to be able to get more accurate data into the ERP, being in the payments flow just made it a lot easier to be able to do that. And I think building with a lot of the fintech optionality enables us to have a lot more of the options to solve more of the problems with capital that we were talking about earlier. So yeah, I think about that as inseparable. I think that the choice that we didn’t make though is—and we are just now getting into credit—we decided actually early on not to give away free money. Controversial in startup land.…

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