In this episode, Denny Neidhardt talks with Income’s CTO Jüri Pruulmann about the technology powering the platform. Jüri shares the origin and design of the proprietary “Time Machine” engine that ensures transparency, reliability, and traceability in all transactions. The discussion covers how Income scales its infrastructure, the approach to IT security, how lender integrations are handled, and why performance is continuously being optimized. They also dive into what’s coming next—including the secondary market, 2FA, and backend enhancements—made possible through the upcoming crowdfunding raise.
 

Topics discussed:

• Origins of the Income IT system and “Time Machine” ledger engine
• Infrastructure scaling and performance strategy
• Loan originator API integrations and validation safeguards
• IT security practices and investor account protection
• Planned features: secondary market, 2FA, and system speed improvements

Tune in for more engaging discussions in future episodes of Income Insights!

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Key Topics Covered in Episode 15: 

Denny’s On-Site Visit – Before the recording, Denny spent four hours discussing DanaRupiah’s key financial metrics and investment outlook, offering firsthand insights into the company’s operations.

Christine’s Background & Founding of DanaRupiah – Christine shares her journey from studying in China to returning to Indonesia to co-found DanaRupiah with WeShare Group’s backing.

Market Entry & Early Challenges – Entering Indonesia’s fintech space before regulations were in place, DanaRupiah navigated an unstructured lending environment and established itself in the consumer loan segment.

Regulatory Adaptation – With Indonesia later implementing P2P lending regulations, DanaRupiah had to adjust its business model and compliance strategies to meet evolving requirements.
Loan Origination & Risk Management – Christine explains how DanaRupiah assesses borrower risk, maintains healthy loan performance, and ensures investor confidence through structured lending practices.

DanaRupiah’s Future on Income – Christine reaffirms DanaRupiah’s commitment to Income Marketplace, emphasizing future refinements in risk management and potential expansions.
 

Tune in for an inside look at DanaRupiah’s evolution, challenges, and plans for the future on Income!

Tune in for more engaging discussions in future episodes of Income Insights!

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Key Topics Covered:

Growth & Profitability – Income targets €35-40M in AUM for 2025, a key milestone for profitability.

Loan Originators & Market Expansion – Plans to onboard six new loan originators, with Kosovo and Lithuania lenders near launch. Expansion into Colombia, Indonesia, Mexico, and the Philippines.

Investor Strategy – Income is planning to increase institutional investor onboarding alongside retail investors.

Crowdfunding Campaign – Aiming to raise €250K to fund a secondary market, platform improvements, and team expansion.

ClickCash Recovery – Income is prepared to bridge payments while ClickCash seeks funding.

Regulation – Estonia lacks a framework for Income’s model; alternative licensing in Lithuania is being considered.

Execution Focus – The team is set on delivering new features and strategic growth.

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Opening and New Year Reflections: Recap of holidays and resolutions.

 Performance Score for 2024: Kimmo rates the company’s performance 8.5/10, noting significant progress despite narrowly missing the $20M target.

Loan Originators and Market Performance: Updates on key lenders like Danarupiah and discussions about regulatory impacts in Indonesia.

New Lenders Onboarded: Introduction of Curren Auto, Ibancar, and Sandfield Capital and their impact on Income’s loan portfolio.

 Litigation Funding and Product Expansion: Overview of new loan types and the diversification of products to increase investor opportunities.

Institutional Investments: Discussion on the significance of securing institutional capital and its future role in platform growth.

Interest Rate Trends: Analysis of lower interest rates across the market and how Income plans to maintain competitive yields.

Recovery Progress for Click Cash: Updates on recovery efforts and remaining challenges.

Milestone Achievements: Reflection on surpassing $100M invested and expectations for continued growth in 2025.

Final Thoughts: Kimmo emphasizes 2024 as a year of internal realignment and expresses optimism for 2025.

Key Highlights:

• Recovery and Growth: 2024 marked significant recovery from a slow 2023, with stronger investor engagement and higher platform activity.

• New Product Lines: The introduction of litigation funding loans positions Income to attract diverse lender types.

• Institutional Capital: Securing reputable institutional investors validates Income’s credibility and improves outreach opportunities.

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• Introduction to Maciej Wenerski:

• Maciej’s career background, including his time at EY, Aasa Polska, and a Polish tech startup.

• His journey to becoming a foundational team member at Income Marketplace.

• The Due Diligence Process at Income Marketplace:

• Overview of the comprehensive approach to evaluating loan originators.

• Key data points analyzed, including repayment history, loan performance, and borrower characteristics.

• Explanation of “sanity and completeness checks” to verify the integrity of data provided by loan originators.

• Addressing Challenges in Peer-to-Peer Lending:

• Regulatory complexities in markets like Poland.

• Balancing investor risk with opportunities for growth.

• Comparison to Competitors:

• How Income’s approach to due diligence and advanced rate calculations provides a unique edge.

• Observations on competitor platforms like Mintos.

• Favorite Loan Originators:

• Maciej highlights his preferred lenders, including ITF from Bulgaria and DanaRupia from Indonesia.

• Key Takeaways for Investors:

• How the due diligence process protects investor interests.

• The importance of transparency and collaboration with loan originators.

Tune in for more engaging discussions in future episodes of Income Insights!

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Episode Highlights:

1. Secondary Market: Addressing the most upvoted community question, Kimmo discusses the prospects for a secondary market on Income Marketplace. He explains that while plans are in place, Income is being cautious to ensure sufficient liquidity before launching. The feature may arrive next year if growth targets are met.

2. Investor Loyalty Program: Denny and Kimmo discuss a possible loyalty program to reward investors with larger portfolios, inspired by successful programs in the industry. While specifics are still in development, the program would aim to encourage and recognize high-level investments.

3. Cashback Campaigns: The team shares their conservative stance on cashback promotions, opting for stable, high yields rather than temporary incentives. However, Kimmo mentions they are open to budget-based incentives that align with Income’s investment strategy.

4. Automatic Monthly Withdrawals: In response to a community question, Kimmo clarifies that Income currently has no plans for an automatic monthly withdrawal feature, as it has not been a widely requested option among investors.

5. Paused Bridge Payments for Click Cash: Kimmo explains the temporary pause on bridge payments to Click Cash, detailing how this decision allows the loan originator to focus on raising funds to cover outstanding debts directly.

6. Auto-Invest Functionality: A question about Auto-Invest performance prompts Kimmo to assure listeners that the feature is working well but could be influenced by user settings or specific loan availability. He encourages investors to reach out if they notice issues.

7. Product Simplification: In response to suggestions for a one-click investment option like Bondora’s Go & Grow, Kimmo shares the legal and technical challenges involved. While they are exploring a user-friendly solution, transparency remains a priority.

8. Server Capacity and Performance: Kimmo addresses concerns about platform speed, noting that performance issues often occur on clearing days due to high system demands. The team is working on improving stability and load handling.

9. Regulatory Changes in Indonesia: New regulations in Indonesia are driving significant changes for loan originators like Danarupiah and Danabijak. Income is working closely with these partners as they transition to offering longer-term loans in response to stricter interest rate caps.

10. Closing Remarks: Kimmo thanks the community for their questions and support, sharing optimism for Income’s future and a hopeful outlook on his health recovery.

Tune in for more engaging discussions in future episodes of Income Insights!

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Key Topics Covered:

1. New Lender Partnerships:

• Ibancar:

• Spanish-based lender using car collateral for loans, which reduces risk and supports stable cash flow.

• Established presence on other platforms, now joining Income to expand its reach.

• Focused on the Spanish market with plans for potential future expansion into South America.

• Sandfield Capital:

• UK lender specializing in litigation financing, funding vetted law firms for civil cases.

• Unique model with loans backed by insurance, reducing the impact of non-performing loans.

• Offers a 13.5% interest rate, providing attractive returns in a structured, lower-risk environment.

2. Operational Updates at Income:

• Kimmo highlights the thorough due diligence process for onboarding new lenders to ensure quality and mitigate risks.

• Focus on balancing the platform’s lender portfolio with diversified lending options for investors.

3. Risk Management and Junior Shares:

• Ibancar’s junior share is set at 11%, reflecting a solid loan book with low default rates.

• Sandfield Capital operates with a zero junior share, owing to the security provided by insured loans and a strict vetting process.

• Income’s methodology for junior share determination emphasizes stable cash flows and market-specific risk factors.

4. Growth and Future Plans:

• Income anticipates scaling its partnerships with Ibancar and Sandfield Capital, expecting increased loan volumes over time.

• No new lenders expected for the rest of 2024; focus remains on growing existing partnerships and managing platform supply and demand.

• Continued commitment to investor protection and platform stability as key priorities.

5. Investor Opportunities:

• Encouragement for investors to explore auto-invest options to optimize returns as Income continues expanding its diversified portfolio.

• Kimmo underscores Income’s objective to provide quality, lower-risk investment opportunities aligned with investor demand.

Episode 11 of Income Insights will be a Q&A episode, during which Kimmo and Denny will once again answer your questions. You can submit your questions here: https://app.sli.do/event/pJnfVnK2HabxgWYrtajqqp

Tune in for more engaging discussions in future episodes of Income Insights!

Learn more about the Podcast: https://getincome.com/blog/podcast/

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Key Topics Covered:

1. Growth and Performance:

• Assets under management (AUM) increased from €8.7 million to €15.8 million in the past six months.

• Income Marketplace continues to grow steadily despite summer delays and challenges in onboarding new loan originators.

2. Loan Originators:

• Two new loan originators are close to being onboarded, including one from the UK focused on litigation funding.

• The onboarding process has been slower due to structural adjustments and legal compliance issues, but significant progress is expected soon.

3. Investor Strategy:

• Shift in focus toward attracting higher-ticket investors instead of prioritizing large volumes of smaller investors.

• Average investment size is being targeted to optimize acquisition costs and operational efficiency.

4. Financial Performance:

• Revenue doubled in 2022 to €430,000, and losses were halved to €590,000.

• The platform aims to reach profitability by the end of 2025, with €30 million in AUM seen as a key break-even point.

5. Buyback Feature Adjustments:

• The early buyback option for loans has been modified to provide more flexibility for loan originators. It is now optional rather than guaranteed on a fixed date, allowing originators to manage cash flow better.

6. Kimmo’s Role:

• Kimmo has stepped down from his board position to focus on personal health but remains involved in key operations, particularly in managing loan originator relations.

• No plans for Kimmo to exit Income Marketplace; he retains a 12% equity stake.

7. Fundraising and Equity Strategy:

• Continuous fundraising from existing investors to sustain operations, with potential future crowdfunding options under consideration.

• Discussions with anchor investors are ongoing to support future rounds of equity raising.

8. Looking Ahead:

• Expectation to onboard new loan originators soon, which will contribute to continued growth.

• Profitability projected by the end of 2025 with 50% growth anticipated in 2024.

Closing Remarks:

• Kimmo expressed optimism for Income Marketplace’s continued success and hinted at new loan originators being confirmed by the next episode.

Tune in for more engaging discussions in future episodes of Income Insights!

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Milestone Celebration: Income Marketplace has facilitated over 100 million euros in loans.

Origin Story: Established in July 2020 amidst the pandemic; launched in January 2021.

Key Challenges:

• Initial slow growth
• Click Cash default in November 2022
• Repayment delays from VIVUS and Juancho Te presta in 2023

Leadership Transition: Lavrenti Tsudakov's journey from product manager to CEO.

Future Plans:

• Introduction of new products (NPLs, credit lines)
• Expanding the loan originator pipeline
• System performance optimizations
• Strategic aim for profitability and regulatory compliance

Current Status:

• Loans under management: 13 million euros
• Strong loan originator pipeline with active offers

Outlook: Positive growth prospects, focus on investor confidence and operational excellence.

Tune in for more engaging discussions in future episodes of Income Insights!

Learn more about the Podcast: https://getincome.com/blog/podcast/

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Key Highlights:

Operational Updates at Income: Discover the strategic transition of Income's bank account from LHV to Verifo, aimed at enhancing international transactions and optimizing cost efficiency, showcasing Income's proactive approach to operational excellence.

Financial Performance Review: Dive into the financial details of core lenders DanaRupiah and ITF Group, discussing their recent performances and regulatory impacts that shape the lending environment.

Exploring Artificial Intelligence: Learn about the current role of artificial intelligence in Income's operations and its potential to transform marketing, customer service, and risk assessment, ensuring that human oversight remains a critical component.

Future Outlook: Kimmo shares insights into the potential challenges and opportunities of integrating more advanced AI technologies into peer-to-peer lending, emphasizing the balance between innovation and traditional financial practices.

Tune in for more engaging discussions in future episodes of Income Insights!

Learn more about the Podcast: https://getincome.com/blog/podcast/

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