it's just the beginning for Cirralto!, page-16014

Just a few notes without going into things Adrian has talked about previously, and that have been discussed at length on these threads:

It was good to hear this:

"I don't think we've promoted well the whole marketplace strategy."

Thought it was a frank and honest appraisal from Adrian suggesting he is going to remedy the situation.

To that end:

'You'll see we'll put out some stuff in the not too distant future on early settlement discount and how we're working in that area more broadly.

There's lots of opportunities working with Mastercard as a partner where virtual cards become a really attractive thing to secure the pipe (of business) and ensure you don't get fraud.

We're squarely focused on a PayNowPayLater journey that's underpinned by a (virtual) card, whether that's B2B or B2C.

I think the quarter is going to unpack really well for us. We've taken on more business, we've taken on more business in different types andwe've been putting in a lot of foundations in place to support the establishment of our debt warehouse. We're really excited about how this quarter will unpack.

We've got a bunch of really nice deals right now where the key is just tempering growth. We've started to adopt a debt river. We're really happy with how we've engaged with the financial sector and built our funding papers. That's really been done by Invigo and our CFO, and a couple of really critical advisors. So, making us bankable to that end. Equally, it de-risks us going forward significantly as we start building our balance sheet.

I feel that we've set ourselves up really well for December Quarter.

So a bit of R&R as we hit 22 then run really hard. We've made no secret of our ambition to get out of Australia and we think we've got a couple of routes to do that. We'd like to get some information into the market in the very near term about some of those plans, and I don't think that's very far away.

Demand has been quite remarkable. Demand has been outstripping supply in terms of capital. It's probably at an extreme point at the moment.

The deals we've been rolling out in this Quarter and those that straddle the beginning of the next pretty much straighten us to where we want to be.

We've hit soft furnishings, we've got some really nice stuff in fashion, we've obviously got some things happening in Agri, so we're getting those deals and being selective so we don't have a capital stretch. The big thing in the near term is managed payment flow and deployment of capital.

In the near term look out for a couple of critical deals, look out for the debt warehouse structuring and look out for a solution to broader first-loss capital. I think putting all those things together will make it easy to start working out that revenue is X.

So that's the focus.