Finosu

Hi - Mark and Gab here! We met while working at Alt, a marketplace for collectibles, within which we built a $200m specialty finance business line. At Alt, we were faced with the manual workflows from compliance to servicing that are needed to make and manage consumer loans. And as a result, we spent much of our time and hundreds of thousands of dollars creating robust internal tooling to ensure we were doing things the right way. However, after the pain of hunting through regulatory codes, confusion of form filling, surprise of regulatory deadlines, monotony of PDF data extraction, anxiety of brittle excel spreadsheets, the frustration of buried email threads with advisors, and the missed phone calls with borrowers to chase payments … to name a few … we knew that this experience needed to be improved. So, we started Finosu to build the tools that we wish we had. Finsou is building software to reduce the barriers to entry in lending, beginning with: outsourced state licensing, default compliant loan management systems, and automated servicing infrastructure. The operational cost of originating and servicing loans reaches into the tens of billions a year and that is money out of the pocket of lenders, borrowers, investors, and ultimately the consumers as a cost of doing business – we are changing that.