Stripe for Debt 👀; The rise of alternative asset investing 🚀; Disappointing results from Bakkt 😢

Good Morning FinTech, 15 November

Good morning Everyone,

And happy Monday! I hope you got some time to relax and really enjoyed your weekend 🥳 To get your week off with a great start, here’s a mix of 3 great FinTech stories for today:

Stripe for Debt 👀

Debt-as-a-Service 💳 Founded in mid-2020, FinTech upstart Sivo wants to do for debt what Stripe did for payments: make it as easy to access a debt facility as plugging into an API.

And just as Stripe helped unlock a bunch of new businesses thanks to the ease with which they could embed payments into their apps and services, Sivo wants to power a new generation of lending offerings.

The USP 🥊 According to Sivo’s founder and CEO Kate Hiscox, it is currently very difficult for FinTechs & neobanks as well as gig platforms to raise enough capital to be able to lend money to their users at scale, not to mention that it generally takes a couple of years.

Sivo hence is building access to debt capital on day one. That’s worth being excited about!

Numbers 📊 In just about 3 months since launch, Sivo has received about $4 billion in demand and actually signed $1.5 billion in term sheets from originators who wish to leverage its debt-as-a-service offering. Not too bad! 👏

According to the founder and CEO Kate Hiscox, the company is in the process of onboarding 600 originators who are hoping to tap into its programmatic debt lines.