Number
Carrot: 45-day payback annualizes to 40% APR on influencer loans
Shaan shares stats on Carrot, which lends to influencers: it has loaned $1M in six months with a 45-day average payback so fast that even a low rate annualizes to a ~40% APR, and it is launching a credit card.
$40
Annualized APR · percent
“They've loaned out $1 million in the last 6 months. The average payback period is 45 days, extremely fast payback. That the APR is very high because of that. So even on a low APR, because of the fast payback, it annualizes at 40%.”
Framework
Hook the customer, then sell them everything: the Hims playbook
Sam argues egg-freezing startup Lilia and influencer-lender Carrot should land a customer on one product, then expand the catalog — the way Hims went from Viagra to hair loss to testosterone.
“once you get this customer on the hook, there's loads of products that you could sell them. In the same way Hims started with Viagra and now is doing hair loss, and then now they're thinking about doing testosterone, doing X, and then doing Y, whatever.”
Steal thisAcquire customers with one sticky product, then cross-sell an expanding catalog into the same trusting audience.