Larry co-founded Zip in 2013 following 12 years’ experience in retail, IT, corporate finance and investment banking at Pacific Brands, Macquarie Capital and Deutsche Bank. He is a former consultant to lenders Prospa Advance, Money in Advance and payment operator Live TaxiEpay. Larry is a Qualified Chartered Accountant and holds a Bachelor of Information Technology and Master of Commerce (Finance).
This panel looked at core products, risk and the average loan size.
Jonathon Kelly said that their best product was the core product flexi and that the average borrower took in $2,000 – 5,000.
Larry Diamond said zipMoney is a mix between credit and payments company, offering effectively a digital credit card. He said $1,000 – 5,000 is his company’s sweet spot for borrowers.
For Daniel Foggo and RateSetter, it’s about amortizing personal loans.The loans RateSetter looks for are typically around $35k, mostly for cars. “We’re doing this more at the point of sale nowadays. Really about the consumer finding a convenient way of funding this.”
27th February 2017 | Ryan Weeks