The Information FinanceFintech Lenders are Still Learning the Hard Way
The recent bankruptcy of Parker, a corporate card startup that catered to e-commerce customers, is a good reminder that lending is one of the toughest ways to make money in fintech. Parker had been among the dwindling number of standalone, tech-heavy lenders geared toward small businesses that first sprung up during the fintech funding boom. These startups often adopted a common playbook of zeroing in on a subset of small businesses to offer attractive short-term credit options. Parker...