Vouch.com - Another Consumer Lender

It's been a while since I've had a chance to write, but I've had a lot of ideas percolating, as well as a few series I started that I haven't had a chance to continue.

I joined a new start up called Vouch.com - consumer lending for thin file, no file, and poor credit borrowers, with an interesting twist - which is how they sold me to help jump start their back office systems.

It's becoming a very crowded space in online consumer lending. Lending Club is headed towards its IPO, Prosper is filling out its senior executive ranks to position the company for a sale in 2015 or early 2016 - both are profitable which is great.

Tons of upstarts like Upstart, Earnest with small twists on the traditional underwriting criteria - mostly taking into account educational background. Vouch, has what I believe to be a much bigger twist, but in the same space none the less.

Charles Moldow has determined this a trillion dollar market in the making.

Everyone is crazy about how we've taken the banks out of banking. That's fucking ridiculous if you ask me, the largest investors on the platforms are banks and hedge funds, all these platforms are doing is streamlining a process for the web, and shifting who gets the origination fee - also side stepping some of those pesky capital requirements and additional regulatory overhead.

Of course you've got Real Estate, Equity fundraising, Student Loans, Home Loans, etc all moving to this online model. It's fun to watch it all happen.

It's also kept me crazy busy - aside from the daily rush to get Vouch.com up and running, consulting and helping some of the other platforms as they scale has taken a lot of my time.