Looking back: learnings and insights that will inform the year ahead

Wisetack Team
January 4, 2021
min read

It’s safe to say a lot has happened in the last year. With thousands of borrowers and businesses using Wisetack's financing solutions, we’re grateful for all that we accomplished as a community and are excited to share with you some of the learnings and achievements that we celebrated this past year.

Here are a few insights that might surprise you:

  • Since January, the number of monthly loan applications increased by 25 times. That’s a whole lot more customers choosing to pay in installments.
  • July was the biggest month of the year for our merchants, with more volume per merchant occurring in that month than any other month in the year. Makes sense - we’ve heard from our customers that the most urgent home repair of all is a broken air conditioner!
  • The Wisetack team tripled in size, living and working in the US and abroad and in four different time zones. This year helped us prove that we have what it takes to be a remote, distributed team.
  • Businesses using Wisetack provide a diverse set of services: HVAC, plumbing, and electrical are the most common, however 35% of the businesses using Wisetack are not in one of those verticals. To name a few, we have garage door companies and junk removal services offering financing, too. 

In 2020, we also learned that simplicity and ease of use were the things that made a difference to our merchants and borrowers. We love hearing from the homeowners who we've helped invest in their home and the service providers whose businesses we've helped grow. Here are some things that businesses and their customers are saying about us.

“The process was much more streamlined than the other kind of financing that we were using.” - Patty, Beehive Plumbing
“We love using Wisetack. This is 10x better than my previous financing provider.” - Eric, Olson Superior Plumbing
“Wisetack has helped us generate more revenue, and get new customers.” - Shane, On Time Heating & Cooling
“I told Paul today about how quick and easy the process was to get a loan with your company and he should put this on his website...Kudos to you and your team. I will be YELPING the hell out of your company (in a good way!).” - Linda, Homeowner

To the businesses and homeowners we’ve worked with this year, thanks for being a part of our community. 2020 was a big year for us, and we have a lot in store for 2021, so stay tuned!

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