The Free Toaster

thefreetoaster
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Insights and interviews at the intersection of consumer lending, marketing, and technology. Hosted by Carlos Caro, co-founder at The Free Toaster and Managing Partner at New Market Growth, a growth agency for consumer lenders.

  1. 19 HR AGO

    E041 - Tim Li, CEO of LendAPI: In-Store BNPL, Indirect Auto Lending & Building Through Content

    Tim Li, CEO of LendAPI, joins Carlos live in the DC studio for a wide-ranging conversation on how LendAPI is quietly becoming the infrastructure layer for modern lending. What We Cover: In-Store Buy Now, Pay Later Most BNPL players are built for online checkout — but 87% of commerce still happens in physical stores. Tim explains how LendAPI landed a major retailer (Sunglass brand Salmoiraghi & Viganò / Sunglass Hut adjacent) as a client looking to build a fully branded, in-store financing experience — complete with loyalty programs, insurance products, and subscription-style payment plans. The key insight: major BNPL players optimize for the transaction, not the shopping experience. Becoming Your Own Lender Tim breaks down how any merchant — from guitar shops to wellness centers — can self-finance customers using LendAPI's platform. High-margin businesses in particular can absorb default risk while collecting a down payment and building customer loyalty. Indirect Auto Lending LendAPI recently certified on RouteOne and DealerTrack, the two dominant auto dealer POS systems. Tim explains why credit unions are ready to ditch legacy LOS providers and what LendAPI offers that incumbents simply can't — speed, flexibility, and zero change-order fees. Building Through Content Tim shares his unfiltered content strategy: no ghostwriters, no AI tools — just 3,000-word blog posts written in 45 minutes at Starbucks on Saturday mornings. Two years in, LendAPI gets 3-4K website visits per day and runs entirely on inbound leads with no sales team. Find Tim Li: LendAPI.com   ***** A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=mar   A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast     A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/ To support The Free Toaster Podcast, please visit our sponsors:     A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    57 min

  2. 1 DAY AGO

    News Pod #10 - Dave's Q4 2025 Earnings Report

    Carlos and Nick discuss Dave's record-breaking Q4 2025 Earnings Report. They also discuss Dave's rise to $4B valuation, drop down to a $50MM valuation, and pop back to $2.85B. Additionally, we break down their customer acquisition strategy and ask questions regarding their long-term viability given the DOJ case out there. They expand on the Free Toaster article recently published here: https://www.thefreetoaster.com/p/how-dave-scaled-to-1637m-in-q4-revenue   Dave's Meta Ads library Carlos referenced is here: https://www.facebook.com/ads/library/?active_status=all&ad_type=credit_ads&country=US&is_targeted_country=false&media_type=all&search_type=page&sort_data[mode]=relevancy_monthly_grouped&sort_data[direction]=desc&view_all_page_id=1719276031734555   *****   Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here on Fridays to get our hot takes on a select story (or two) from that edition.    ***** A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=feb   A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast     A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/ To support The Free Toaster Podcast, please visit our sponsors:     A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    22 min

  3. 7 MAR

    News Pod #9 - NerdWallet's Q4 2025 Earnings Report

    Carlos and Nick try to make sense of NerdWallet's recent earnings report. They expand on the article they recently published here: https://www.thefreetoaster.com/p/can-nerdwallet-outrun-the-ai-disruption   Note: Carlos misspoke early in the episode when he shared the topline revenue and growth numbers. The correct numbers are $225.4MM topline revenue and 23% YoY growth.   Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here on Fridays to get our hot takes on a select story (or two) from that edition.    ***** A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast     A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/ To support The Free Toaster Podcast, please visit our sponsors: A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=feb   A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    26 min

  4. 27 FEB

    News Pod #8 - Apple Just Put BNPL Into 65 Million Apple Pay Wallets

    Carlos and Nick discuss the implications of this week's headline story: Apple is now pushing the ability for Apple Pay users to pay with installments at the physical register, not just online and in apps. With iOS 26, installment options show up right inside the Apple Pay payment sheet when you tap to pay in store. What used to require opening a separate app or converting a purchase after the fact is now a one-tap decision at the moment of payment. Apple is not lending directly. Loans come from participating providers including Affirm, Klarna, Citi, and Synchrony. The feature is also rolling out internationally across Canada, the UK, France, Italy, Spain, Denmark, and Sweden.   Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here on Fridays to get our hot takes on a select story (or two) from that edition.    ***** A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/ To support The Free Toaster Podcast, please visit our sponsors: A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=feb A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast   A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    17 min

  5. 27 FEB

    E040 - Mr. Beast Buys Fintech App Step: A Bold Bet or a Disaster in the Making?

    Our host Carlos Caro sits down with Alex Johnson (founder/author at Fintech Takes) to unpack one of the more surprising stories in consumer finance: Mr. Beast's acquisition of Step, a Gen Z-focused neobank. Alex breaks down what Step actually is — a once-hyped neobank valued at nearly $1 billion in 2021 that quietly faded into obscurity, struggling like so many of its peers to crack the user acquisition code. Mr. Beast, who filed a trademark for "Mr. Beast Financial" last year, reportedly scooped it up at a significant discount, inheriting a functional neobank with banking partner Evolve Bank and Trust and ~7 million users — a small number compared to his 467 million YouTube subscribers. The strategic fit makes surface-level sense: Step already targeted teens and young adults, emphasizes financial literacy, and has a history of celebrity investors (including Steph Curry). Mr. Beast's brand speaks the same language and operates at a scale no neobank has ever had access to. But the conversation gets serious fast. Carlos and Alex explore the darker structural forces at play — the industry's pull toward gambling-adjacent products, the monetization pressures that push fintechs toward high-risk features, and the very real consequences for young, vulnerable users. Alex draws a sharp line: financial services isn't like selling chocolate bars. It's one of the only industries, alongside healthcare, where the stakes are genuinely life and death. Both Carlos and Alex walk away cautiously optimistic — Mr. Beast has the scale and the right instincts — but clear-eyed about how narrow the path to doing this well really is. Follow Alex at www.fintechtakes.com ***** A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast     A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/ To support The Free Toaster Podcast, please visit our sponsors: A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=feb     A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    1h 17m

  6. 21 FEB

    News Pod #7 - TU's $56MM Purchase of Monevo - How's It Going?

    In April 2025, Transunion completed its acquisition of Monevo (a UK-based credit prequalification platform). In today's News Pod, Nick discovers that TU paid $56MM and that TU expects the Monevo acquisition to be immaterial to FY 2026 growth for TU. (Sources of that information below). Carlos and Nick discuss the Monevo business model and speculate on why growth could be muted in the US market. Please note: While recording the Pod, Carlos thought he heard Nick say that TU expects the revenue contribution in 2026 from Monevo to be immaterial (instead of the growth contribution from Monevo in 2026 to be immaterial). That colored his commentary in the episode.    Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here on Fridays to get our hot takes on a select story (or two) from that edition.  ****** "In October 2021, we acquired a 30% equity interest in Monevo Limited (“Monevo”), which we accounted for as a Cost Method Investment. On April 1, 2025, we acquired the remaining 70% of the outstanding equity of Monevo and gained control of Monevo by exercising a call option we had obtained when we made our initial investment. The strike price of the call option paid at closing was $56.0 million, which was funded with cash on hand. Cash acquired from Monevo in connection with the transaction was $0.3 million, resulting in a net cash payment of $55.7 million. There was no contingent consideration related to this transaction."   Source: https://investors.transunion.com/~/media/Files/T/Transunion-IR-V2/reports-and-presentations/transunion-q3-25-10-q.pdf   "Additional revenue growth assumptions: The impact of our Monevo acquisition is expected to be immaterial for Q1 2026 and FY 2026." Source: https://investors.transunion.com/~/media/Files/T/Transunion-IR-V2/reports-and-presentations/q4-2025-earnings-release.pdf   ***** A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/ To support The Free Toaster Podcast, please visit our sponsors: A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=feb   A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast     A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    18 min

  7. 18 FEB

    E039 - Is My Application Experience Broken?

    Today we walk through a list of questions to ask yourself to determine whether your application experience needs a tune up. ***** About The Free Toaster Podcast:  Insights and interviews at the intersection of consumer lending, marketing, and technology. Hosted by Carlos Caro, co-founder at The Free Toaster and Managing Partner at New Market Growth, a growth agency for consumer lenders. ***** To support The Free Toaster Podcast, please visit our sponsors: A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=feb   A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast     A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/   A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    14 min

  8. 16 FEB

    News Pod #6 - Guest Pod w/ Prithvi Prabhu + Mr. Beast's Fintech Acquisition

    This week Prithvi Prabhu drops in to help us contextualize Cash App Borrow's metrics from this Edition: https://www.thefreetoaster.com/p/cash-apps-invisible-200-billion-loan   Then, we discuss Mr. Beast's Fintech Acquisition and talk about why buying Fintech's could lead to trouble for the mega content creator.   Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here on Fridays to get our hot takes on a select story (or two) from that edition.  ***** To support The Free Toaster Podcast, please visit our sponsors: A word from our sponsor, Spinwheel:   Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo! https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=feb   A word from our sponsor, Fintel Connect Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine. https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast     A word from our sponsor, Bulldog Media Group: Bulldog Media Group is a leading performance marketing company that specializes in online customer acquisition for clients in the financial services industry. Since 2000, they have focused on financial services digital marketing as their core niche.  https://www.bulldogmediagroup.com/   A word from our sponsor, New Market Growth:   New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others. Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

    22 min
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About

Insights and interviews at the intersection of consumer lending, marketing, and technology. Hosted by Carlos Caro, co-founder at The Free Toaster and Managing Partner at New Market Growth, a growth agency for consumer lenders.

Information

  • Creator
    thefreetoaster
  • Years Active
    2025 - 2026
  • Episodes
    51
  • Rating
    Clean
  • Copyright
    © Copyright 2025 All rights reserved.
  • Show Website
    The Free Toaster

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