1 00:00:00.545 --> 00:00:01.125 Hey everyone. 2 00:00:01.125 --> 00:00:03.565 Alison Berger here at Broker Fair, 2024. 3 00:00:03.805 --> 00:00:06.565 I am now here with Jay Vdo from Velocity Capital. 4 00:00:07.035 --> 00:00:08.365 Tell me about Velocity Capital. 5 00:00:08.865 --> 00:00:10.965 So Velocity's been around for about seven years. 6 00:00:11.465 --> 00:00:12.725 Uh, we're a direct funder. 7 00:00:13.025 --> 00:00:15.685 Uh, we focus mostly on technology and automation. 8 00:00:16.225 --> 00:00:19.285 Um, big into transparency and reputation. 9 00:00:19.285 --> 00:00:20.565 That's really what we focus on. 10 00:00:21.025 --> 00:00:22.485 Is that what makes you stand out 11 00:00:22.485 --> 00:00:23.725 amongst the rest of the industry? 12 00:00:24.125 --> 00:00:25.605 I think so. I mean, you're in an industry 13 00:00:25.605 --> 00:00:29.405 that is slowly getting better at its reputation overall, 14 00:00:29.545 --> 00:00:31.485 but we've been doing this almost 15 years 15 00:00:32.105 --> 00:00:35.045 and it's hard to have a good reputation in this industry. 16 00:00:35.425 --> 00:00:38.285 So if you can have speed to automation 17 00:00:38.835 --> 00:00:40.245 capital at your fingertips, 18 00:00:40.425 --> 00:00:42.125 and you also have a good reputation while doing 19 00:00:42.125 --> 00:00:43.205 it, it, you know, it doesn't hurt. 20 00:00:43.455 --> 00:00:46.005 Definitely not. So you've been around for so long. 21 00:00:46.025 --> 00:00:47.365 How do you continue to evolve 22 00:00:47.365 --> 00:00:49.165 with all the trends and what's going on? 23 00:00:50.205 --> 00:00:52.245 I mean, thank God I have four 24 00:00:52.245 --> 00:00:53.565 beautiful children and beautiful wife. 25 00:00:53.705 --> 00:00:56.805 So it motivates me to keep moving forward. 26 00:00:57.465 --> 00:01:01.045 But I think that it's the creativity ma like 27 00:01:01.045 --> 00:01:02.125 that, that matters to me. 28 00:01:02.405 --> 00:01:03.525 I, I love being creative 29 00:01:03.625 --> 00:01:06.285 and doing something new that other people haven't, 30 00:01:06.305 --> 00:01:07.925 and being not just that, 31 00:01:07.985 --> 00:01:09.485 but the relentless pursuit 32 00:01:09.545 --> 00:01:11.765 of constantly pushing the envelope. 33 00:01:12.185 --> 00:01:14.805 So what creativity is velocity bringing to the table? 34 00:01:15.385 --> 00:01:17.885 So one of the things we just created, um, 35 00:01:18.225 --> 00:01:20.085 we created this new thing called Custom Weekly. 36 00:01:20.505 --> 00:01:22.725 Uh, if you actually look on our social media, it was, uh, 37 00:01:23.125 --> 00:01:24.845 promoted by Kevin O'Leary, which was really fun. 38 00:01:25.425 --> 00:01:27.225 Um, the majority 39 00:01:27.225 --> 00:01:30.105 of the industry charges either a weekly or a daily payment. 40 00:01:30.805 --> 00:01:34.225 So the creativity kind of came from, 41 00:01:34.745 --> 00:01:36.385 I was actually watching a show with my wife 42 00:01:36.385 --> 00:01:37.825 and one of the commercials came up 43 00:01:37.965 --> 00:01:39.105 and said like, progressive 44 00:01:39.505 --> 00:01:40.625 snapshot, create your own payment. 45 00:01:41.245 --> 00:01:43.265 And it kind of hit me that you can get 46 00:01:43.265 --> 00:01:44.625 creativity from anywhere, right? 47 00:01:44.765 --> 00:01:46.985 So we went back to the drawing board 48 00:01:46.985 --> 00:01:48.025 and said, instead of just daily 49 00:01:48.085 --> 00:01:50.065 or weekly, it's make up a number. 50 00:01:50.075 --> 00:01:51.545 Let's just say it's a thousand dollars a day 51 00:01:51.545 --> 00:01:52.665 or five KA week. 52 00:01:53.165 --> 00:01:55.265 Let the merchant choose their payment as long 53 00:01:55.265 --> 00:01:56.665 as we get our 5K per week. 54 00:01:57.045 --> 00:01:58.745 If they want payment on Monday 55 00:01:58.845 --> 00:02:00.145 of let's just say a thousand dollars 56 00:02:00.285 --> 00:02:04.065 and Friday 4,000, by all means, you want a 2000 on Tuesday, 57 00:02:04.565 --> 00:02:07.305 you want 3000 on Thursday by, all right, as long 58 00:02:07.305 --> 00:02:08.945 as we figure out a structure that at the end 59 00:02:08.945 --> 00:02:12.385 of the week we've received our 5K in that scenario, 60 00:02:13.335 --> 00:02:15.945 that helps us because that helps the merchants on their cash 61 00:02:15.945 --> 00:02:18.465 flow and it specializes into their business 62 00:02:18.465 --> 00:02:19.585 and how their business works. 63 00:02:19.725 --> 00:02:22.465 So everybody needs a niche 64 00:02:22.485 --> 00:02:25.185 and everyone needs something that meets their needs. 65 00:02:25.645 --> 00:02:29.905 So this helps give small businesses the, the opportunity 66 00:02:29.905 --> 00:02:31.185 to choose their own payments 67 00:02:31.185 --> 00:02:32.425 that facilitates their business. 68 00:02:32.645 --> 00:02:34.225 And what type of small businesses 69 00:02:34.225 --> 00:02:35.425 or clients are coming to you? 70 00:02:36.025 --> 00:02:37.905 I mean, it's, there's a plethora of them. 71 00:02:38.045 --> 00:02:41.305 It it anything from, uh, construction companies 72 00:02:41.365 --> 00:02:44.465 to medical facilities to, uh, 73 00:02:45.135 --> 00:02:48.505 race car NASCAR teams that we've had, uh, companies 74 00:02:48.625 --> 00:02:50.305 that are publicly traded. 75 00:02:50.305 --> 00:02:53.065 You have medical doctors, dentists, 76 00:02:53.745 --> 00:02:55.265 security firms. I mean, it 77 00:02:55.265 --> 00:02:56.385 Ranges covering all the bases. 78 00:02:56.735 --> 00:02:59.645 Exactly. Yeah. It's really, it's really diverse overall. 79 00:02:59.825 --> 00:03:01.805 And how do you see the rest of the year going for you? 80 00:03:02.605 --> 00:03:04.965 I mean, we're, we're, we're, we're punching through, 81 00:03:04.965 --> 00:03:06.205 we're, we're kicking part of my French 82 00:03:06.205 --> 00:03:07.245 kicking ass and taking names. 83 00:03:07.705 --> 00:03:10.285 And uh, like I said, if you have a good product 84 00:03:10.745 --> 00:03:13.325 and a good process and a good reputation, I mean, 85 00:03:13.325 --> 00:03:14.405 everything kind of flows itself. 86 00:03:14.865 --> 00:03:16.805 Uh, and especially when you're automated 87 00:03:16.805 --> 00:03:19.365 and you have, you know, systems that allow you to 88 00:03:19.895 --> 00:03:22.005 bring on more volume without clogging up your 89 00:03:22.005 --> 00:03:23.925 system, it's extremely important. Yes. 90 00:03:24.105 --> 00:03:25.885 And well, thank you for flowing very nicely 91 00:03:25.885 --> 00:03:26.965 with me in this interview. 92 00:03:27.155 --> 00:03:28.885 Sure. So we'll be back soon.