$1 Club, page-14199

Rhys,

Good question. I'm just going to throw this out there; forget about comparison between IOU and SmartFunding. The reason I say this is because you only get half the picture with SmartFunding. Remember, you're not actually buying SmartFunding, you're buying an asset that FFG have a majority stake in. From memory SmartFunding is based in Singapore which to me is basically a cross between the western world and eastern world. It has a higher percentage of credit card use and these are the customers that every BNPL business operating in that region is going after. There's quite a few already breaking into the Singapore market. To me it's getting overcrowded and the only reason is the ease of entry.

IOU is targeting the sweet spot of SEA. It has links to enterprise customers and this is where the winning is done. If your enterprise customers are onboarding consumers for you then the customer acquisition cost is much lower. It's almost like word of mouth. You trust what you hear or read if it's presented by someone or something that you already trust.

I'm not providing financial advice, this is exactly what I am doing. I'll devote 100% of the funds I have available to invest in IOU rather than spreading it thin between one good company and a couple of lower grade company's. In my strong opinion, the 12 month return from investing in just IOU will be greater than splitting the same amount across IOU, PIL and FFG. My opinion only so please DYOR.