SMB Software · Case Study
Vertical SaaS Platform Launches Embedded Lending With Sponsor Bank
First-party payments data underwrites SMB credit at materially better selection and pricing.
The platform processed payments and bookkeeping for tens of thousands of SMBs and sat on uniquely high-fidelity underwriting data. Partnering with a sponsor bank, the team launched a working-capital product underwritten on the platform's own data.
Default rates outperformed channel-equivalent benchmarks, and customer adoption was high.
Outcomes
- ▍Differentiated default performance vs. comparable channels
- ▍High in-product adoption
- ▍Material increase in average revenue per customer