$FSRV - a very promising SPAC. A hypergowth play for a key position in ecommerce payments. Oddly cheap.
Is Affirm, a Levchin’s “BNPL” hypergrower, gonna go public? S1 filed.
Has anyone done any work on the name?
Will be interesting after Affirm’s IPO in Q1 at $10b target valuation,- $20b prob when trading.
$FSRV now at $1.3b MC with half Affirm’s revenues, profitable (vs Affirms large losses), and faster growth.
$FSRV now at $1.3b MC with half Affirm’s revenues, profitable (vs Affirms large losses), and faster growth.
“Subprime” scaring off competitors also? Thus causing nice profitability, while Affirm at twice the revenue is gushing losses?
Another nice thread on $fsrv / Katapult.
https://twitter.com/Prof_Kalkyl/status/1344977365399707648
As with the @GetBenchmarkCo thread, @Prof_Kalkyl in the end chose not to own the name. IMHO both may regret such decision bigly. But what do I knowl. I am often wrong :-(
How long befor $CURO’s 21% share in $FSRV equals double its current MC? All this for a $25m investment?
Afterpay, Affirm, Sezzle, and Klarna are perceived a “non lenders/payment processors” & thus at astro valuations. But they are lenders just the same. Yet $FSRV has superior growth, economics, and leas competition, but <1/10 PS multiple of Afterpay’s, and so on...
Apparently $FSRV/Katapult use to be an “omnichannel” lender like $PRG, but at some point went all-online. Seems like been paying off.
Tencent took 5% stake in Afterpay in May. More validation of importance of "POS fintech", A.K.A. "BNPL". $FSRV may have an even better "BNPL model. reuters.com/article/us-aft…
$FSRV management guiding to 75% CAGR AND excess cash flow generation. Seems far better economics than main BNLP market darlings like Affirm or Afterpay which consume cash as they grow.
$FSRV is half Affirm’s revenue and similar growth. But profitable vs Affirm gushing losses. Yet Affirm will prob trade at $20b valuation vs. $1.4b for $FSRV now.
Nice interview w Affirm’s founder, Levchin the Legend. “Merchants sign ups are off the charts.”
A lot of funds seem to be buying into $FSRV as per SEC disclosures.
$FSRV "waterfall" partner Affirm IPOs tomorrow. Should be interesting.
Tomorrow $AFRM -> $FSRV $RCII
Looks like guiding to 75% CAGR for the next few years...
"5%-10% share of $40b-$50b TAM is reachable."
Added some $FSRV on the dip
Counterintuitively, $FSRV is a recession-proof business
New $FSRV CEO Interview sec.gov/Archives/edgar…
Mr. Market selling $FSRV at these prices?
Doesn’t make sense that $RCII is going up while $FSRV down. Moving more and more $RCII to $FSRV
$FSRV - instant 16% rise @saxena_puru buy. Mr. Market, oy vey..
Mr Market still asleep. $FSRV/Katapult. HT @mukund for a great interview
$FSRV/Katapult CEO - @mukund interview transcript. sec.gov/Archives/edgar…
Why $FSRV sudden love? Was bad just a few weeks ago? " Due diligence"?
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