Rohit Mittal founded Stilt to give loans to immigrants and underserved people for whom traditional underwriting models didn't work. He came to the US as an immigrant and experienced the pain of establishing credit without any, and after years of working within the system and learning, he built the product to fix it. That meant rebuilding everything -- new underwriting models, license, tech stack -- and stitching it all together. 

With the rise of embedded finance and banking-as-a-service, it turns out that the stack Rohit and team built from scratch was really valuable to a lot of companies who wanted to start extending credit to their customers. At first, Rohit helped some YC companies figure out how to do it, but enough of them were asking -- and just wanted an easy API they could plug in -- that the company built a product: Onbo.

Onbo lets companies build credit products without a bank sponsor, in weeks instead of months or years, for a fraction of the cost. Despite just coming out of stealth, the new business line is growing like wild. 

On today's episode, Rohit and I dive into the nuts and bolts of spinning out company infrastructure as its own product, why GTM motions are so different in API-first and consumer, and much more.

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