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  1. #1
    Senior Member Reputation points: 107104
    Join Date
    Aug 2016
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    827

    FundKite

    Did yellowstone cut them off?

    Hello <>,

    As of today, FundKite is totally changing its business model.

    BIGGER DEALS - We will no longer accept submissions from merchants with under $100,000 average monthly revenue.

    MORE COMPETITIVE - In order to be more competitive, we are lowering our buy rates on 1st - 3rd positions to 1.24.

    NO MORE HIGH RISK - We will no longer be entertaining High Risk opportunities. Effective Immediately, we will be declining any file that does not qualify under our main desk criteria.

    SYNDICATE WITH US - Syndication will be available to select ISO’s that wish to capitalize on preferred deals.

    HIGHER HOLDBACK – We will raising our holdback to 25% on premium paper.

    We really appreciate your continuous business and believe these changes will bolster our relationship even further.

    Thank you for your loyalty and trust in FundKite. Contact your ISO Rep for further information and details.

    Download our latest submission guidelines here:




    Yours Truly,
    Alex Shvarts
    CEO of FundKite
    929-999-9500

  2. #2
    Senior Member Reputation points: 43599 brokerCompany's Avatar
    Join Date
    Aug 2015
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    CALIFORNIA
    Posts
    943

    They are one of the most aggressive spammers 5 different reps spam us weekly. They could not handle larger deals before now they dont accept under 100k monthly revenues. interesting

  3. #3
    Senior Member Reputation points: 307559
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    Jun 2015
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    haha what will it take to get cut off from yellowstone

  4. #4
    Member Reputation points: 359 FundKite's Avatar
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    Apr 2017
    Location
    New York
    Posts
    27

    Blah Blah Blah.

  5. #5
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
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    4,318

    Quote Originally Posted by FundKite View Post
    Blah Blah Blah.
    So it’s true.

  6. #6
    Senior Member Reputation points: 503040
    Join Date
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    Quote Originally Posted by brokerCompany View Post
    They are one of the most aggressive spammers 5 different reps spam us weekly. They could not handle larger deals before now they dont accept under 100k monthly revenues. interesting
    Probably whitelabeling Influx along with Kalamata and Par.

  7. #7
    Senior Member Reputation points: 12452
    Join Date
    Jun 2013
    Posts
    351

    HIGHER HOLDBACK – We will raising our holdback to 25% on premium paper

    This completely contradicts going upstream. After the business owner spends the money, >75% of their income will cover rent, payroll, inventory/cogs, etc. How does this work out long term?

  8. #8
    Member Reputation points: 359 FundKite's Avatar
    Join Date
    Apr 2017
    Location
    New York
    Posts
    27

    This eliminates the need for a mechant to stack if they require a higher funding amount.

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