LendUp CEO Sasha Orloff tells me they’re giving the startup time to build a long-standing brand in finance “the right way”, rather than squeezing as much profit as possible from its customers in the short-term.
“Everything has to be transparent. There is no fine print. No hidden fees. And everything has to get someone to a better place” Orloff insists.
That’s from a TechCrunch story in January about LendUp, a payday lender backed by Andreessen Horowitz, Google Ventures, QED and Kapor Capital, with debt funding from Victory Park Capital.
And this is from a press release just put out by the California Department of Business Oversight: