In episode 20 of PitchIt: the fintech startups podcast we talk with David Haas of PowerPay.
PowerPay is a digital lending platform that offers home improvement financing for contractors, their customers, and everyday consumers. When talking with David I found out they launched in January of 2020, right before the world changed.
It turned out to be a big stroke of luck for PowerPay, while stuck in their homes people started to examine those projects that got pushed down the personal to-do list. Whether it was a bathroom renovation, fixing a leaky roof, or installing new windows, there ended up being record demand for these projects.
David and I discuss PowerPay’s journey over the last 18 months, the exponential growth they saw in the home improvement space, working with bank partners, raising capital, unfortunately, USC football, and a whole lot more. I hope you enjoy the show.
In this podcast you will learn:
David’s founder story
What he learned from his early drive for money
The difference between intrepreneur and entrepreneur
They serve super prime, prime and sub prime
How PowerPay works with banks
How PowerPay works with contractors
How they went from $0 to $1bn in loans originated during the pandemic
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.