rogereur

Recently heard this podcast with Lex Fridman and Carl Hart (author of Drug Use for Grown-Ups) and talk about this

Our solution it's focused on these customers, who already have some sort of credit but find paying their purchases on installments easier, more affordable and transparent than getting with a credit card.

We are enabling other merchant that aren't as big or don't having the ability to offer financing to offer this option to the customers.

The name comesfrom the Atrato River, which is a river that connects central america with south america and provides a safe way for travelers while passing through the rough and dangerous terrain of the Darien Gap. And yeah, also means that you pay "on deal" :)

We do work with online and offline merchants. Fortunately in Mexico regulation on credit is not restrictive on credit, the most important regulations are around AML and KYC.

Our loans are time-defined, full amortizable, which means that every payment you do your debt will lower and are tied to specific purchases. So instead of easily finance anything you can't afford, people use us for specific things they need. It's just simpler, easier and will become even more affordable as we improve our terms

The cost structure of banks is mainly about credit risk (defaults), fixed costs, origination and servicing costs, and funding costs. For startups the funding costs is the biggest problem because banks fund themselves at close to 0% out of deposits. We have to raise expensive debt. As we drive this cost down, we will have much better conditions for users and merchants

As we drive our costs lower, we will be able to offer dramatically more low interest rates and now we are testing 0% APR programs with some of our merchants

This is really hard since there's chicken and egg problem, you have to demonstrate you know what you do before getting capital, but you need capital to prove it.

I thought even PG would appreciate increasing the reach and convenience of his public content