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Johny Fernandez: Alright, so
let's get straight to the topics

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of conversation. So Sean, we're
gonna talk about fund through

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acquisition, now fund through
announced their acquisition of

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the factoring division of
BlueVine. So let's talk first

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things first. Sean, when you
heard this did this surprise you

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at all?

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Sean Murray: It did. It shocked
me legitimately shocked too no

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like legit shot. Why? Because
fun through the Canadian

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company. And blue vine. In my at
least, my understanding was was

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a much larger American company.
So here I'm seeing a smaller

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Canadian company buying not the
whole company and BlueVine

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Johny Fernandez: Exactly the
factory division. But it's

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something that's interesting,
because when we spoke with them,

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they told us that the deal had
been in the works for a while.

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Like, it's not like it's not
like this happened overnight.

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Like it was something you know,
from yesterday to today. But we

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do know that the move is
substantial because the company

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has acquired their largest. It's
the compares integral product.

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So back to the conversation. So
you were surprised? Do you think

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the you know this specific move?
From what I'm reading up on? It

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definitely made it seem like,
you know, it's gonna benefit

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everyone. Because at the from
what I got, it's gonna benefit

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everyone. It's gonna benefit
vine through

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Sean Murray: BlueVine. Vine.
That would be a good name for

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combining. Yeah. Vine through.

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Johny Fernandez: We're gonna
vine benefit bloom, or fun vine

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fun. Remember Vine? You know,

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Sean Murray: you know how I do
remember Vine? Yeah. vine

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through, vine through.

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Johny Fernandez: It's a good one

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Sean Murray: Yeah, we'll send
them that as a tip afterwards.

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Johny Fernandez: Exactly. But
back to the conversation. So you

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were surprised you were shocked.
But to me, it kind of seems that

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this is gonna make there's gonna
be beneficial for everyone.

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Sean Murray: Me like for both
company companies? Yeah, you

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guys. Oh, God. Do you think I
have some thoughts about it?

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Yeah. Well, I want to hear your
thoughts about it and why it's

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beneficial. Yeah. So I assume
it's beneficial because it's in

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each of their interests? I don't
know. Yeah, I don't know if

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there's any particular
particular reason why it would

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be so significantly, you know,
beneficial outside of the

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ordinary course of any type of
business. But I will tell you

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this. So I told you, I was
shocked and surprised. Because

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FundThrough small company in
Canada buying a sizable division

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of a competitor in the United
States, it's just that kind of

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reverse transaction is so
uncommon, you can tell how

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excited FundThrough was both in
their public announcement of the

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deal. And in the conversation
that we had with them that this

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was a huge major achievement for
them. So why would BlueVine and

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do this? Does that mean BlueVine
is distressed? You know what I

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mean, like, the question is, Why
would BlueVine do that? And I

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think the the answer is obvious.
If you go to even just a website

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today, they are really focused
on more becoming like a bank,

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their website highlights
checking, lending in BillPay.

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And lending when you click on
that, it it, it advertises their

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line of credit products. So they
kind of their core business when

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they started was factory, that's
where they started online

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business factory, they scale up
real quick made a big go of it,

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a lot of branding in that space,
pivoted towards banking as as

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we've seen all the other online
lenders do. And now that they've

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had success there, it seems like
their original core business is

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more like almost not a good fit
fit for what are the other

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things they have,

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Johny Fernandez: What it made it
seem like to me was that they

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they wanted to pass this
division along so they can focus

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on their bigger picture, their
bigger product, and something

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that they said the C, the CEO of
BlueVine says our factoring

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clients are in great hands with
FundThrough so they know that

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they just didn't, you know, make
a move. And they're just like,

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forget about it like it was it
seemed like it was very

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strategic, but it seemed like
you said that overall big

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picture. They're now focused on
other things that is not

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factoring and but they still
want to keep their hands on in

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the pop, but they rather just
give it to someone you know, and

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work with someone else to kind
of get that goal accomplished.

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Sean Murray: It makes sense. And
you know, if you out there

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watching had never heard of
FundThrough, they were a

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recognized player in the Small
Business Finance market in

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Canada. I did meet with their
executive several times that

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Canadian lenders events, I think
I even met with one of their top

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marketing executives for like a
coffee as at some point. So they

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were a known and big important
player in the Canadian market.

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And so they didn't just come out
of nowhere per se, it's just

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that the transaction itself was
surprising. It's exciting,

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because I guess we'll get to
hear more about what FundThrough

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is doing now that they're
operating in two countries.

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Yeah,

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Johny Fernandez: No, and I think
two things. This goes back to

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made, it made me think when I
was reading about this, about

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the Canadian market itself and
how things are just changing

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over there. You know, it's the
they're getting back into the

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swing of things. Because they
had two years where, you know,

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we really didn't know much what
was going on. But like we talked

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about in our, in our previous
show, they definitely have this

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concept that, you know, it's
booming, it's back and they

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don't want to like stop at all
and just keep growing in that

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space. The second thing is
FundThrough and Blue Vines

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started around the same time.

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Sean Murray: Oh, I didn't even
know that.

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Johny Fernandez: Yeah, he
started around the same time and

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the CEO and co founder of
FundThrough said, we started we

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started around the same time.
They grew their business nicely.

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And then they started to branch
out into into other products and

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like we've talked about, and now
you know, they're kind of giving

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up the factoring aspect of it.
But I think it's interesting.

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These guys started around the
same time, they saw each other's

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growth and they're kind of you
kind of want to like slightly

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different directions. So it was
interesting. So yeah, I think I

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think I'm I'm not surprised that
shocked you. But I'm surprised

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that you know these types of
transactions don't happen.

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Sean Murray: You are not shocked
that I was shocked.

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Johny Fernandez: I am not
surprised that you were shocked

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Sean Murray: They say wait
you're giving your your analysis

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Johny Fernandez: That Sean was
shocked because of the simple

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my my my reaction. They're not
surprised that your shocked. So

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when you heard Sean was shocked
Johnny, were you shocked that

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Sean was shocked

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fact that surprise,

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Sean Murray: Okay, you're not
surprised. I am not surprised

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that you were shocked We see.
You know, this is what we should

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do in the future. Let's not
comment about the deals anymore.

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Let's have me react to the deals
and then we want to get your

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take on my reaction.

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Johny Fernandez: I was surprised
that he was not shocked.

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Sean Murray: You had to do that.
You have to do like a double

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negative to that. I was not
surprised that he was not

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shocked.