In the early days of the online lending space, when it came to institutional capital, one name seemed to be in more deals than any other: Victory Park Capital. And while the industry has matured a great deal since then, in no small part thanks to the capital invested by Victory Park, their thesis remains the same: lend money where banks won't.

My next guest on the Fintech One-on-One podcast is Brendan Carroll, Co-Founder and Senior Partner of Victory Park. I am so pleased to finally get Brendan on the show after first inviting him many years ago. They have a great story to tell and they continue to fuel the growth of private credit, providing capital to a wide variety of different lenders.

In this podcast you will learn:

• The founding story of Victory Park Capital.
• Their fortunate timing of the closing of their first institutional fund.
• What they saw as the opportunity in the early days of the online lending space.
• Why they pulled out of the peer-to-peer lending platforms fairly quickly.
• How they are able to get comfortable investing with new lending platforms.
• What types of lenders they are working with today and the regions they operate.
• Why businesses are staying with Victory Park a bit longer today.
• Why their check sizes are higher today than five years ago.
• The niche of consumer finance they are most bullish on today.
• How the equity funding pullback has impacted their business.
• How lenders can set themselves for success and get a deal with Victory Park done.
• Brendan's views on the future of asset-back private credit.

Connect with Brendan on LinkedIn
Connect with Victory Park Capital on LinkedIn

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The payments processing space has seen a huge amount of innovation in the past decade, maybe more than any other area of fintech. This innovation has presented opportunities for non-fintech companies to earn a new revenue stream via payments processing, which in turn has created a new sub-niche for fintech companies.

My next guest on the Fintech One-on-One podcast is Caleb Avery, the CEO and Founder of Tilled. They provide PayFac-as-a-Service to software companies looking to process payments for their customers. Basically, it is a simpler and quicker way for these software companies (called ISVs) to get set up as master merchants and generate payments revenue. Unsure how this all works? We explain in great detail in this interview.

In this podcast you will learn:

• What attracted Caleb to the payments processing space very early on.
• The founding story of Tilled.
• The difference between a card-issuing bank and a merchant-acquiring bank.
• The definition of a payments processor.
• What an ISO (Independent Sales Organization) does.
• What an ISV (Independent Software Vendor) is.
• The definition of a payments facilitator (PayFac).
• Who the major PayFacs are today.
• What PayFac-as-a-Service is and why Tilled went all in on this idea.
• The scale of ISV that is the sweet spot for Tilled.
• Why ISOs work with Tilled rather than going direct to ISVs.
• The three key components of Tilled's software.
• How they are able to compete head to head with Stripe Connect.
• The different types of support they can provide for the ISVs.
• How their pricing model works.
• How the typical credit card fees are broken up between all parties.
• Caleb's views on the recent ruling between Visa and Mastercard and the Department of Justice.
• Where embedded payments is going and his vision for Tilled.

Connect with Caleb on LinkedIn
Connect with Tilled on LinkedIn

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• Connect with me on LinkedIn
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Latin America continues to be, in my opinion, the most dynamic and interesting region in the world when it comes to fintech innovation. And there are now significant billion dollar deals getting done as some of the biggest financial institutions on the planet are looking to make their mark in the region.

My next guest on the Fintech One-on-One podcast is Daniela Binatti, she is the Co-Founder and CTO of Pismo. Pismo has created modern financial infrastructure to help banks move away from their legacy technology. Visa saw the potential of Pismo and announced last year that it was acquiring the company for $1 billion in cash. That deal was consummated in January of this year.

In this podcast you will learn:

• The family affair that was the founding story of Pismo.
• The opportunity they saw in the Brazilian market.
• How they were able to start getting traction.
• Pismo's core offerings today.
• How they were able to sign the largest bank in Brazil very early on.
• What these large banks are using Pismo for.
• Some of the other big names that are using Pismo today.
• How Daniela views what is happening in the US and other developed markets.
• The impact that Pix has had on their business.
• Her personal take on what Pix has meant for Brazil.
• How they decided to take on international markets.
• How the acquisition conversation with Visa began.
• What they can do with Visa now that they couldn't do alone.
• What this acquisition means for Latin American fintech.
• What new innovations are they thinking about for the future.

Connect with Fintech One-on-One:

• Tweet me @PeterRenton
• Connect with me on LinkedIn
• Find previous Fintech One-on-One episodes