The Digital Dividend

Welcome to the  first episode of The Digital Dividend. In this episode we are joined by Zvilo's Founder and CEO Admir Imami. Leveraging the experiences gained across multiple successful exits of previously founded businesses, including a direct lender, factoring company, and asset manager, Admir has built Zvilo into the leading non-bank working capital provider in the Balkans. During our discussion Admir touches on the hurdles he faced along the route of building out a fully digital lender in a market traditionally dominated by relationship banking. Additionally, we gain insights into the unique opportunity posed by the funding gap SMEs in Kosovo currently face.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to the  first episode of The Digital Dividend. In this episode we are joined by Plata's CEO and Co-Founder Neri Tollardo. Plata was born when a team from Tinkoff Bank, decided to leverage their experience of having built the first, largest, and most successful digital bank and credit card issuer in Russia to do the same in Mexico. Despite having only just launched the business in September of 2022, with lending starting in March 2023, Plata has already ramped up a > USD 75,000,000 portfolio across >350,000 active cardholders and is currently adding >50,000 customers per month, accounting for >5% of all credit card issuance in Mexico. Through the course of our discussion, Neri dives into the unique challenges Plata faced in transplanting an existing, highly successful business model and team from Russia to Mexico (and Cyprus), the hurdles faced in building out a business with the goal of complying with bank regulations from day-1, and the nuances of adapting their approach to credit to the Mexican market. Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to The Digital Dividend!In this episode we are joined by Karmen's Co-Founder Gabriel Thierry. After seeing first-hand the astronomical growth and success of revenue-based SME lending models in the US, Gabriel and his co-founder Paul seized the opportunity to be the first player to launch a tech-driven RBF lending business in their home country of France. Since launching in 2021, Karmen has provided working capital within 48 hours to over 200 SME borrowers. Through the course of our discussion, Gabriel dives into the challenges he and his team faced along their journey of launching a lending business in one of the most heavily regulated jurisdictions in Europe. In addition to getting insight into developments in the French market, we also learn about Karmen’s plans for expansion and learn about an exciting new funding channel they have been working on together with Fasanara portfolio company Untangled Finance.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital LtdEpisodes have been produced and edited by Mikayel Poghosyan, Fasanara Capital LtdDisclaimer: Please note the Digital Dividend is an informational podcast and does not provide investment advice or recommendations. The information and opinions expressed in this podcast are for general informational purposes and no information or content provided on the podcast should be considered as a recommendation to follow a particular strategy or buy, sell, or hold any security or investment. The hosts of the podcast may have made investments in some of the companies discussed, and such investments may create a conflict of interest. However, the hosts and guests have voluntarily agreed to appear on the Digital Dividend and have not received any compensation or payment for doing so. The podcast is not intended to be a substitute for professional investment advice or analysis, and listeners should consult with their own investment advisors before making any investment decisions. Any reliance on the information or opinions expressed in the podcast is at the listener's own risk. By listening to this podcast, you acknowledge and agree that neither the hosts, guests, nor the companies discussed or associated with the podcast shall have any liability for any loss or damage arising from your reliance on the information or opinions expressed in the podcast.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to The Digital Dividend!In this episode we are joined by Tilta's Founder Christoph Nicola. With the goal of enabling B2B marketplaces to provide their sellers the ability to offer extended repayment terms to their buyers via the seamless integration of Tilta in a single line of code, Tilta is a digital payment service provider and lender set to revolutionise B2B sales. Through the course of our discussion, Christoph dives into the approach he took to launching Tilta’s B2B marketplace payment solution, developments in the market and how he took a different approach to some other founders when it came to prioritising the build and testing of a prudent underwriting engine over onboarding as many clients as possible in their first few months.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital LtdEpisodes have been produced and edited by Mikayel Poghosyan, Fasanara Capital LtdDisclaimer: Please note the Digital Dividend is an informational podcast and does not provide investment advice or recommendations. The information and opinions expressed in this podcast are for general informational purposes and no information or content provided on the podcast should be considered as a recommendation to follow a particular strategy or buy, sell, or hold any security or investment. The hosts of the podcast may have made investments in some of the companies discussed, and such investments may create a conflict of interest. However, the hosts and guests have voluntarily agreed to appear on the Digital Dividend and have not received any compensation or payment for doing so. The podcast is not intended to be a substitute for professional investment advice or analysis, and listeners should consult with their own investment advisors before making any investment decisions. Any reliance on the information or opinions expressed in the podcast is at the listener's own risk. By listening to this podcast, you acknowledge and agree that neither the hosts, guests, nor the companies discussed or associated with the podcast shall have any liability for any loss or damage arising from your reliance on the information or opinions expressed in the podcast.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to The Digital Dividend!In this episode we are joined by Multifi’s Founder and CEO Rob Keown-Boyd. A repeat founder, Rob discusses how lessons learned from a previous digital lending venture helped him when planning and launching Multifi, the UK’s newest SME working capital lender providing a digital-first payables finance solution. In addition to highlighting Multifi’s unique offering, providing cashflow forecasting and insights to SMEs in addition to a near-instant working capital credit line which can be used to extend the term on their payables, Rob touches on his key takeaways from having launched and successfully ramped several business within and outside of the lending space.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital LtdEpisodes have been produced and edited by Mikayel Poghosyan, Fasanara Capital LtdDisclaimer: Please note the Digital Dividend is an informational podcast and does not provide investment advice or recommendations. The information and opinions expressed in this podcast are for general informational purposes and no information or content provided on the podcast should be considered as a recommendation to follow a particular strategy or buy, sell, or hold any security or investment. The hosts of the podcast may have made investments in some of the companies discussed, and such investments may create a conflict of interest. However, the hosts and guests have voluntarily agreed to appear on the Digital Dividend and have not received any compensation or payment for doing so. The podcast is not intended to be a substitute for professional investment advice or analysis, and listeners should consult with their own investment advisors before making any investment decisions. Any reliance on the information or opinions expressed in the podcast is at the listener's own risk. By listening to this podcast, you acknowledge and agree that neither the hosts, guests, nor the companies discussed or associated with the podcast shall have any liability for any loss or damage arising from your reliance on the information or opinions expressed in the podcast.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to The Digital Dividend!In this episode we are joined by Finiata's CEO Anna Kozlowska, who worked her way up to a leadership position by learning the business inside and out after joining the firm as a sales manager in 2018. Through the course of the discussion, Gennaro Crocamo and Matt Kus from Fasanara's origination desk gain interesting insights into the changes that have taken place within Finiata over the last couple of years as the firm pivoted away from the German market to focus on Poland and refined its product offering before landing on the highly automated revolving credit facilities (RCFs) they provide to SMEs today. Anna provides detail on how Finiata took a risk-first approach to lending, putting time, effort, and funding into building their machine learning underwriting algorithm which enables them to make prudent funding decisions at lightning speed and highlights the opportunities on the horizon in the embedded lending space for lenders who have built the IT infrastructure to effectively underwrite, monitor, and service granular credit exposures to underserved SME borrowers.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital LtdEpisodes have been produced and edited by Mikayel Poghosyan, Fasanara Capital LtdDisclaimer: Please note the Digital Dividend is an informational podcast and does not provide investment advice or recommendations. The information and opinions expressed in this podcast are for general informational purposes and no information or content provided on the podcast should be considered as a recommendation to follow a particular strategy or buy, sell, or hold any security or investment. The hosts of the podcast may have made investments in some of the companies discussed, and such investments may create a conflict of interest. However, the hosts and guests have voluntarily agreed to appear on the Digital Dividend and have not received any compensation or payment for doing so. The podcast is not intended to be a substitute for professional investment advice or analysis, and listeners should consult with their own investment advisors before making any investment decisions. Any reliance on the information or opinions expressed in the podcast is at the listener's own risk. By listening to this podcast, you acknowledge and agree that neither the hosts, guests, nor the companies discussed or associated with the podcast shall have any liability for any loss or damage arising from your reliance on the information or opinions expressed in the podcast.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to The Digital Dividend !In this episode, Flexfin's co-founders and life-long friends, Dimitris Vranopoulos and Alex Kelaiditis, join Matt Kus and Gennaro Crocamo from Fasanara's origination desk. Dimitris and Alex provide insight into their unique founder journeys, starting with a friendship in elementary school which endured as they both built up careers in finance in London before eventually bringing them together back in Greece to found the country's first and only non-bank factoring company. Through the course of the discussion, Alex and Dimitris speak to the challenges of being the first non-bank lender to ever apply for a factoring license in Greece, raising funding for a fintech business in a country that doesn't have a fintech ecosystem, and educating potential borrowers on factoring as a working capital solution.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital LtdEpisodes have been produced and edited by Mikayel Poghosyan, Fasanara Capital LtdDisclaimer: Please note the Digital Dividend is an informational podcast and does not provide investment advice or recommendations. The information and opinions expressed in this podcast are for general informational purposes and no information or content provided on the podcast should be considered as a recommendation to follow a particular strategy or buy, sell, or hold any security or investment. The hosts of the podcast may have made investments in some of the companies discussed, and such investments may create a conflict of interest. However, the hosts and guests have voluntarily agreed to appear on the Digital Dividend and have not received any compensation or payment for doing so. The podcast is not intended to be a substitute for professional investment advice or analysis, and listeners should consult with their own investment advisors before making any investment decisions. Any reliance on the information or opinions expressed in the podcast is at the listener's own risk. By listening to this podcast, you acknowledge and agree that neither the hosts, guests, nor the companies discussed or associated with the podcast shall have any liability for any loss or damage arising from your reliance on the information or opinions expressed in the podcast.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to Digital Dividend !In this episode, Novicap's Founder and CEO, Federico Travella joins Francesco Filia (Founder & CEO) and Matt Kus (Head of Originations for Developed Markets) from Fasanara Capital. Federico discussed his journey from training in marine biology to founding and scaling up one of the largest non-bank SME working capital lenders in Spain, factoring over 1.5 billion euros of invoices from over 3,000 clients since 2015. We learned why Federico chose to start Novicap in Spain in the invoice finance space and how he used an agile approach to adapt the business through the years, launching new products in response to customer needs and adjusting pricing in response to macro factors to maintain margins and keep the company on a stable growth path.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltdEpisodes have been produced and edited by Mikayel Poghosyan, Fasanara Capital ltd.Disclaimer: Please note the Digital Dividend is an informational podcast and does not provide investment advice or recommendations. The information and opinions expressed in this podcast are for general informational purposes and no information or content provided on the podcast should be considered as a recommendation to follow a particular strategy or buy, sell, or hold any security or investment.The hosts of the podcast may have made investments in some of the companies discussed, and such investments may create a conflict of interest. However, the hosts and guests have voluntarily agreed to appear on the Digital Dividend and have not received any compensation or payment for doing so.The podcast is not intended to be a substitute for professional investment advice or analysis, and listeners should consult with their own investment advisors before making any investment decisions. Any reliance on the information or opinions expressed in the podcast is at the listener's own risk.By listening to this podcast, you acknowledge and agree that neither the hosts, guests, nor the companies discussed or associated with the podcast shall have any liability for any loss or damage arising from your reliance on the information or opinions expressed in the podcast.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to the second episode of The Digital Dividend.For this episode we have Naman Rastogi from our Fasanara VC team speaking with Shruti Aggarwal, Co-founder StashFin. We spoke at length about the consumer lending landscape in India and learnt how StashFin became a successful FinTech lending company in India. Shruti highlights some of the key milestones StashFin achieved in their journey and how their customer obsession helped them in building products directly addressing the needs of their end borrowers.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltdListen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd

Welcome to the  first episode of The Digital Dividend. For our inaugural episode we welcomed Mindaugas Mikalajūnas, CEO of SME Finance. We learned how SME Finance started as an idea by three ex-coworkers with 100K of their own capital to the largest non-bank lender in the Baltics with >150 million outstanding portfolio. Mindaugas highlights some of the challenges faced along the way, discusses the trends in borrower needs he has been seeing across their markets, and what is on the horizon for SME Finance as they continue their expansion with launches in new jurisdictions and new product offering.Listen on Spotify/Apple Podcasts and everywhere else: thedigitaldividend.buzzsprout.com© Fasanara Capital ltd