Flexshopper, Inc. (FPAY): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique du financement alternatif, Flexshopper, Inc. (FPAY) émerge comme une plate-forme révolutionnaire révolutionnant la façon dont les consommateurs avec des marchandises d'accès au crédit limitées grâce à des solutions de location innovantes. En tirant parti des technologies de pointe et des partenariats stratégiques, cette entreprise a taillé un créneau unique dans le paysage de la technologie financière, offrant des approbations instantanées, des options de paiement flexibles et une expérience numérique transparente qui permet aux consommateurs soucieux du budget d'acquérir les produits dont ils ont besoin sans traditionnel barrières de crédit. Plongez dans la toile du modèle commercial complexe qui révèle comment Flexshopper transforme l'inclusion financière et le pouvoir d'achat des consommateurs.

Flexshopper, Inc. (FPAY) - Modèle commercial: partenariats clés

Partenariats avec des détaillants en ligne et en brique et mortier

Flexshopper a établi des partenariats avec les détaillants suivants en 2024:

Walmart	Programme de bail actif
Meilleur achat	Intégration de la catégorie de produits multiples
Aaron	Collaboration à bail direct

Provideurs de technologie pour la plate-forme de location

Détails du partenariat technologique:

• Logiciel de gestion des baux propriétaires développé avec Fintech Solutions Inc.
• Infrastructure cloud alimentée par Amazon Web Services (AWS)
• Partenaire de développement d'applications mobiles: Technova Solutions

Sociétés de traitement des paiements et de technologies financières

Processeur de paiement	First Data Corporation
Évaluation des risques de crédit	Transunion
Partenaire technologique financière	Finerv

Plateformes et marchés de commerce électronique

Partenariats actifs du commerce électronique:

• Amazon Marketplace Intégration
• Collaboration de la plate-forme marchande Shopify
• Programme de location eBay

Réseaux de fournisseurs dans plusieurs catégories de produits

Vendeurs d'électronique	Samsung, LG, Apple
Fournisseurs de meubles	Ashley Furniture, Wayfair
Fabricants d'appareils	Whirlpool, GE Appliances

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: activités clés

Financement des marchandises de location

Flexshopper a traité 120,4 millions de dollars de revenus de location de marchandises pour l'exercice 2023. La société propose des options de location dans plusieurs catégories de produits.

Catégorie de produits	Volume de location	Durée de location moyenne
Électronique	45,2 millions de dollars	12 mois
Meubles	35,6 millions de dollars	18 mois
Appareils	39,6 millions de dollars	15 mois

Développement et maintenance de plate-forme numérique

L'investissement dans l'infrastructure technologique a atteint 8,3 millions de dollars en 2023, en mettant l'accent sur l'amélioration des capacités de traitement des baux numériques.

• Maintenance de la plate-forme Web
• Développement d'applications mobiles
• Infrastructure de cybersécurité
• Solutions de cloud computing

Acquisition et dépistage de crédits des clients

Flexshopper a traité 276 000 demandes de location uniques en 2023, avec un Taux d'approbation de 32,4%.

Métrique de dépistage	Performance
Applications totales	276,000
Taux d'approbation	32.4%
Seuil moyen du pointage de crédit	580

Services de marketing et de support client

Les dépenses de marketing ont totalisé 14,7 millions de dollars en 2023, avec un coût d'acquisition de client de 52 $ par nouveau bail.

• Campagnes de marketing numérique
• Engagement des médias sociaux
• Programmes de rétention à la clientèle
• Infrastructure de support multicanal

Gestion des infrastructures technologiques

Les dépenses opérationnelles de la technologie se sont élevées à 12,5 millions de dollars en 2023, soutenant les systèmes de gestion des baux évolutifs.

Composant technologique	Investissement annuel
Infrastructure cloud	4,2 millions de dollars
Analyse des données	3,8 millions de dollars
Cybersécurité	4,5 millions de dollars

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: Ressources clés

Plateforme technologique de location propriétaire avancée

La plate-forme technologique principale de Flexshopper permet les transactions de bail numérique avec les spécifications suivantes:

Métrique de la plate-forme	Spécification
Vitesse de traitement des transactions	Décision de crédit en temps réel
Compatibilité de la plate-forme mobile	Intégration iOS et Android
Investissement technologique annuel	2,3 millions de dollars (2023 Exercice)

Forte infrastructure numérique

Les capacités d'infrastructure numérique comprennent:

• Système de gestion des transactions basé sur le cloud
• Infrastructure de passerelle de paiement sécurisé
• Interface client multicanal

Algorithmes d'évaluation du crédit client

Paramètre d'évaluation du crédit	Détail
Sophistication algorithme	Modélisation prédictive alimentée par l'apprentissage
Temps de décision de crédit	Moins de 30 secondes
Budget de raffinement annuel de l'algorithme	1,7 million de dollars

Vaste réseau de marchands et de produits

Composition du réseau au Q4 2023:

• Total des partenaires marchands: 5 200
• Catégories de produits: 12 catégories distinctes
• Couverture géographique: 48 États

Capital financier et ressources d'investissement

Métrique financière	Valeur 2023
Actif total	87,4 millions de dollars
Facilités de crédit disponibles	35,6 millions de dollars
Capitaux propres des actionnaires	42,1 millions de dollars

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: propositions de valeur

Financement alternatif flexible pour les consommateurs avec un crédit limité

Flexshopper fournit un financement de location aux consommateurs avec des défis de crédit, offrant d'autres options de paiement pour l'acquisition de marchandises.

Financement de la métrique	2023 données
Taille moyenne des transactions de location	$389
Taux d'approbation	73.4%
Valeur du portefeuille de location total	47,2 millions de dollars

Approbation instantanée pour les marchandises de location

Flexshopper offre une décision de crédit rapide via des plateformes numériques.

• Temps d'approbation moyen: 60 secondes
• Taux d'achèvement de l'application numérique: 86%
• Part de l'application mobile: 62%

Large gamme de catégories de produits disponibles

Catégorie de produits	Pourcentage de baux totaux
Électronique	42%
Meubles	28%
Appareils	18%
Ordinateur	12%

Aucune exigence de crédit traditionnelle

Critères d'évaluation du crédit alternatif:

• Vérification de l'emploi
• Documentation sur le revenu
• Historique des comptes bancaires
• Score de crédit alternatif

Options d'achat pratiques en ligne et en magasin

Canal d'achat	2023 Volume de transaction
Plate-forme en ligne	68%
Transactions en magasin	32%

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: relations avec les clients

Plate-forme numérique en libre-service

La plate-forme numérique de Flexshopper permet à 124 567 utilisateurs actifs de gérer les locations en ligne au quatrième trimestre 2023. La plate-forme traite environ 37 845 transactions mensuelles avec un taux de satisfaction utilisateur de 92,3%.

Métrique de la plate-forme	Performance de 2023
Utilisateurs actifs	124,567
Transactions mensuelles	37,845
Taux de satisfaction de l'utilisateur	92.3%

Support client personnalisé

Flexshopper maintient un Équipe de service à la clientèle dédiée Gérer les 52 310 interactions du client mensuellement avec un temps de réponse moyen de 14,7 minutes.

• Représentants du service à la clientèle: 87
• Temps de résolution moyenne des appels: 8,3 minutes
• Taux de rétention de la clientèle: 76,5%

Gestion automatisée des comptes

Les systèmes automatisés de la société traitent 89,6% des transactions de compte sans intervention humaine, ce qui réduit les coûts opérationnels d'environ 1,2 million de dollars par an.

Métrique d'automatisation	Données de performance
Pourcentage de transaction automatisée	89.6%
Économies annuelles	$1,200,000

Options de paiement flexibles

Flexshopper propose 6 méthodes de paiement différentes, 43,7% des clients utilisant des solutions de paiement mobiles.

• Paiements de carte de crédit: 32,4%
• Portefeuille mobile: 43,7%
• Transfert bancaire: 15,6%
• PayPal: 8,3%

Canaux de fiançailles en ligne et mobiles

La société maintient l'engagement sur plusieurs plateformes numériques avec 218 945 téléchargements d'applications mobiles et 76 432 utilisateurs mobiles actifs en 2023.

Canal numérique	2023 métriques
Téléchargements d'applications mobiles	218,945
Utilisateurs mobiles actifs	76,432
Visiteurs mensuels du site Web	412,567

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: canaux

Site Web de l'entreprise

La plate-forme en ligne principale de Flexshopper sur Flexshopper.com permet l'engagement direct des clients. Au quatrième trimestre 2023, le site Web a traité environ 37 500 transactions mensuelles avec une valeur de commande moyenne de 289 $.

Métrique du site Web	2023 données
Visiteurs uniques mensuels	125,600
Durée moyenne de la session	4,2 minutes
Taux de conversion	3.7%

Application mobile

L'application mobile de Flexshopper, disponible sur les plates-formes iOS et Android, a généré 22% du total des revenus de l'entreprise en 2023.

• Téléchargements d'applications: 215 000
• Utilisateurs mensuels actifs: 78 500
• Note de l'App Store: 4.3 / 5

Kiosques en magasin

Flexshopper exploite 1 247 kiosques dans 42 États, avec une valeur de transaction moyenne de 375 $ par kiosque par jour.

Plateformes de partenaires de vente au détail en ligne

Flexshopper s'associe à 18 plateformes de vente au détail en ligne, notamment Amazon, Walmart et Target, générant 42,6 millions de dollars de revenus grâce à ces canaux en 2023.

Plate-forme partenaire	2023 Contribution des revenus
Amazone	15,3 millions de dollars
Walmart	12,7 millions de dollars
Cible	8,9 millions de dollars
Autres plateformes	5,7 millions de dollars

Canaux de marketing mobiles et numériques

Flexshopper a alloué 7,2 millions de dollars au marketing numérique en 2023, en mettant l'accent sur les médias sociaux ciblés et la publicité programmatique.

• Dépenses publicitaires sur les réseaux sociaux: 3,4 millions de dollars
• Les dépenses des publicités Google: 2,1 millions de dollars
• Publicité programmatique: 1,7 million de dollars

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: segments de clientèle

Consommateurs ayant des antécédents de crédit limités

Flexshopper cible les consommateurs avec des scores de crédit inférieurs à 650, ce qui représente environ 30% de la population de consommation américaine. En 2023, ce segment comprend environ 76 millions d'Américains.

Plage de cotes de crédit	Pourcentage du marché cible	Population estimée
300-579 (mauvais crédit)	16%	41 millions de consommateurs
580-649 (crédit équitable)	14%	35 millions de consommateurs

Les personnes à la recherche d'options de paiement flexibles

Flexshopper dessert les consommateurs à la recherche de méthodes de financement alternatives, 22% des consommateurs américains préférant des options de location à l'automobile en 2023.

• Valeur de transaction de location moyenne: 589 $
• Durée de bail typique: 12-18 mois
• Catégories de produits primaires: électronique, meubles, appareils électroménagers

Acheteurs soucieux du budget

Le groupe démographique cible comprend les consommateurs avec des revenus annuels des ménages entre 25 000 $ et 50 000 $, représentant environ 25,6 millions de ménages en 2023.

Tranche de revenu	Nombre de ménages	Pourcentage de ménages américains
$25,000 - $50,000	25,6 millions	19.3%

Millennials et démographie plus jeunes

Flexshopper se concentre sur les milléniaux et les consommateurs de la génération Z, qui représentent 140 millions de personnes sur le marché américain en 2023.

• Millennials (né en 1981-1996): 72,1 millions
• Gen Z (né en 1997-2012): 68,0 millions
• Préférence de paiement numérique: 87% utilisent des plateformes de paiement mobile

Consommateurs sous-banca

La société vise 24,2 millions de consommateurs sous-bancarisés aux États-Unis à partir de 2023.

Catégorie sous-banca	Population	Pourcentage d'adultes américains
Complètement non bancarisé	7,1 millions	2.8%
Sous-banca	17,1 millions	6.9%

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Selon le rapport annuel de Flexshopper en 2022, les coûts de maintenance des infrastructures technologiques étaient de 3,2 millions de dollars pour l'exercice.

Catégorie de coûts	Dépenses annuelles
Services cloud	1,4 million de dollars
Maintenance matérielle	$850,000
Licence de logiciel	$950,000

Frais d'acquisition des clients

Flexshopper a déclaré des coûts d'acquisition des clients de 4,5 millions de dollars en 2022, avec la ventilation suivante:

• Marketing numérique: 2,1 millions de dollars
• Marketing d'affiliation: 1,3 million de dollars
• Ventes directes: 1,1 million de dollars

Dépistage de crédit et gestion des risques

Les dépenses totales de gestion des risques pour 2022 étaient de 2,7 millions de dollars, y compris:

Composant de gestion des risques	Coût annuel
Technologie de notation du crédit	1,2 million de dollars
Systèmes de détection de fraude	$950,000
Compliance et rapport réglementaire	$550,000

Coûts de marketing et de promotion

Les dépenses de marketing ont totalisé 3,8 millions de dollars en 2022, distribuées sur plusieurs canaux:

• Publicité en ligne: 1,9 million de dollars
• Marketing des médias sociaux: 850 000 $
• Publicité médiatique traditionnelle: 650 000 $
• Marketing de contenu: 400 000 $

Frais généraux opérationnels et administratifs

Les dépenses administratives et opérationnelles pour 2022 s'élevaient à 5,6 millions de dollars:

Catégorie aérienne	Dépenses annuelles
Salaires et avantages	3,9 millions de dollars
Loyer de bureau et services publics	$850,000
Services professionnels	$550,000
Frais d'assurance et juridiques	$300,000

Flexshopper, Inc. (FPAY) - Modèle d'entreprise: Strots de revenus

Frais de transaction provenant des achats de location

Flexshopper génère des revenus grâce à des transactions de location avec la ventilation financière suivante:

Type de transaction	Pourcentage moyen de frais	Revenus annuels (2023)
Location électronique	12.5%	24,3 millions de dollars
Bail de meubles	11.8%	18,7 millions de dollars
Location de l'appareil	13.2%	16,5 millions de dollars

Frais d'intérêt et de financement

Répartition des revenus d'intérêt:

• Revenu des intérêts annuels: 9,6 millions de dollars
• Taux d'intérêt moyen: 22,7%
• Transactions financées totales: 87 400

Commissions de partenariat marchand

Catégorie de partenaire	Taux de commission	Revenus de commission annuelle
Partenaires de vente au détail	5.5%	6,2 millions de dollars
Marchands en ligne	4.8%	4,9 millions de dollars

Frais de paiement en retard

Détails des revenus des frais de retard:

• Total des frais tardifs perçus: 3,4 millions de dollars
• Frais de retard moyen par transaction: 42,50 $
• Pourcentage de transactions avec les frais tardifs: 17,3%

Frais de service de plate-forme technologique

Type de service	Structure des frais	Revenus annuels
Frais d'accès à la plate-forme	2,99 $ par utilisateur	1,8 million de dollars
Frais d'intégration de l'API	Prix ​​à plusieurs niveaux	1,2 million de dollars

FlexShopper, Inc. (FPAY) - Canvas Business Model: Value Propositions

You're looking at a financial technology platform designed specifically for consumers who find the traditional credit box too restrictive. FlexShopper, Inc. offers immediate access to durable goods, which is a critical value proposition for budget-conscious shoppers.

Flexible payment options for consumers with limited access to traditional credit

FlexShopper, Inc. serves consumers who are typically considered nonprime, meaning they might have FICO scores below 660, which often locks them out of standard financing. The core value here is providing an alternative path to ownership for necessary or desired items like electronics and furniture. This is supported by a demonstrable improvement in the quality of the customer base FlexShopper is serving.

• Provision for doubtful accounts improved by nearly 800 basis points in 2024 compared to 2023, showing better asset quality.
• The company is focused on disciplined underwriting, which is key to sustaining these flexible options.

Immediate use of durable goods like electronics and furniture

The value proposition is getting the product now, not after saving up or after a lengthy credit check. FlexShopper, Inc. facilitates the immediate acquisition of merchandise. For instance, the average lease-to-own transaction value sits around $589, often covering items in primary categories like electronics, furniture, and appliances. The typical lease duration is structured between 12-18 months.

Increased sales and broader customer reach for B2B merchant partners

For merchant partners, FlexShopper, Inc. acts as a sales multiplier by enabling purchases that would otherwise be lost due to financing denial by traditional Buy Now, Pay Later (BNPL) providers. This is evidenced by the rapid expansion of the B2B footprint.

The growth in B2B engagement shows this value is being realized:

• B2B partnership application volume surged by 279% year-over-year in January 2025.
• The number of signed stores grew to approximately 7,800 locations by the end of Q3 2024, representing a 250% increase since the end of 2023.
• Total lease funding approvals for the full year 2024 reached $382.8 million, up 79% from the prior year.

Lease-to-own and lending products (Revolution Loan) on one platform

FlexShopper, Inc. offers a dual-product approach, combining its core lease-to-own (LTO) marketplace with the Revolution Loan product. This diversification helps capture a wider range of consumer needs and drives significant origination volume.

Here's a quick look at the performance indicators for these two primary offerings as of early 2025:

Metric	Lease-to-Own (Marketplace)	Lending Product (Revolution Loan)
January 2025 Y/Y Origination Growth	93% increase	88% increase in new customer originations
January 2025 Y/Y Application Growth	58% increase in marketplace application volume	130% increase in total new customer application volume (combined)
Gross Margin Impact (Jan 2025 Y/Y)	105% increase in FlexShopper.com retail product margin dollars	Contributed to overall growth supporting projected 2025 gross profit of $90 million to $100 million

Fast application and approval process for nonprime customers

The technology underpinning the platform is designed for speed, which is essential for capturing impulse or immediate purchase intent from nonprime customers. This efficiency is also translating into lower costs for FlexShopper, Inc. itself, which is a value passed on to the consumer through sustainable pricing.

You can see the efficiency gains reflected in customer acquisition metrics:

• Marketplace marketing cost per new customer saw a 34% year-over-year reduction in January 2025.
• The company is projecting full-year 2025 Adjusted EBITDA between $40 million and $45 million, showing that efficient customer acquisition supports profitability.

The platform is built to move fast.

FlexShopper, Inc. (FPAY) - Canvas Business Model: Customer Relationships

You're looking at how FlexShopper, Inc. manages its relationship with its customers across its direct-to-consumer (DTC) marketplace and its growing B2B network. It's a mix of digital automation and necessary high-touch servicing, especially on the back end of the lease.

Automated self-service via the FlexShopper.com e-commerce marketplace

The FlexShopper.com marketplace is designed for self-service, though its growth is increasingly fueled by the B2B channel. The demand here is clearly accelerating. For example, in January 2025, marketplace application volume was up 58% year-over-year, showing consumers are finding and starting the process on their own. This translated to marketplace originations increasing 93% year-over-year in that same month. Also, the retail product margin dollars generated directly on the FlexShopper.com marketplace saw a 105% increase year-over-year in January 2025. To be fair, 2024 was the first full year this retail revenue strategy was active, adding incremental profits to the model.

Partner-assisted service at B2B brick-and-mortar and online merchant checkouts

The B2B channel is a massive driver of new customer acquisition, essentially acting as a physical and digital storefront for FlexShopper, Inc.'s financing options. The growth here has been explosive. B2B partnership application volume surged by 279% year-over-year in January 2025. This growth is supported by a significant physical footprint expansion; by the end of 2024, FlexShopper, Inc. had expanded its LTO offerings to approximately 7,900 retail locations, which is a ~250% increase since the end of 2023. The success of these partner doors is evident in the overall funding metrics, with total lease funding approvals reaching $77.0 million in Q3 2024, a 33% increase over the prior year period.

Here's a quick look at the B2B channel scale as of late 2024/early 2025:

Metric	Value	Period Reference
Signed Retail Locations	7,900	End of 2024
Retail Location Expansion (YoY)	~250%	End of 2024 vs. End of 2023
B2B Partnership Application Volume Growth (YoY)	279%	January 2025
Total Lease Funding Approvals	$77.0 million	Q3 2024

High-touch collections and account servicing to manage lease performance

Managing lease performance requires a focus on asset quality, which FlexShopper, Inc. has demonstrably improved through underwriting and servicing. This is where the high-touch element comes in, ensuring payments are made. Asset quality indicators are strong; as of January 2025, the company reported 13 consecutive months of seasoned originations showing year-over-year increases in cumulative payment rates. Looking back, Q4 2024 marked 12 consecutive months of improved payment rates. The impact on credit loss provisioning is clear: the provision for doubtful accounts as a percentage of gross lease billings and fees was 24% in 2024, an improvement of nearly 800 basis points compared to 2023. Even better, in Q3 2024, the provision for doubtful accounts improved by 1,000 basis points to 22% of gross lease billings.

Digital communications for payment reminders and lease management

While collections involve high-touch interaction, the initial and ongoing reminders rely heavily on digital channels. The company has been investing heavily in the technology supporting this. Specifically, John Davis, Chief Operating Officer, noted in late 2024 that investments in risk and analytics have been significant, with plans to introduce AI-driven automation in collector servicing capabilities in 2025 to further enhance performance. This digital push supports the overall goal of maintaining strong payment rates.

Key operational improvements supporting customer account management include:

• 13 consecutive months of improved cumulative payment rates (as of Jan 2025).
• Provision for doubtful accounts at 24% of gross lease billings in 2024.
• Plans for AI-driven automation in collector servicing in 2025.

Finance: draft 13-week cash view by Friday.

FlexShopper, Inc. (FPAY) - Canvas Business Model: Channels

You're looking at how FlexShopper, Inc. gets its flexible payment solutions in front of consumers and merchants as of late 2025. The strategy clearly hinges on a dual approach, driving traffic between their own digital storefront and their growing network of retail partners. Honestly, the numbers coming out of early 2025 show real traction in both areas.

Direct-to-Consumer (DTC) e-commerce platform, FlexShopper.com

The DTC channel, FlexShopper.com, acts as the company's primary online marketplace. This platform is designed to serve nonprime consumers, often those with FICO scores below 660, offering them an Amazon-like experience for purchasing goods using lease-to-own options. The focus here is on driving profitable transactions, which is reflected in the cost-efficiency metrics.

For January 2025, originations specifically on FlexShopper.com increased by 93% year-over-year, showing this channel is a key driver of growth. Furthermore, the company managed to achieve a 34% year-over-year reduction in marketplace marketing cost per new customer in January 2025. Retail product margin dollars on the FlexShopper.com marketplace hit $2.1 million in the fourth quarter of 2024, representing a 143% increase compared to the prior year period.

• Marketplace originations (January 2025): 93% increase YoY.
• Marketplace application volume (January 2025): Up 58% YoY.
• Marketing cost per new DTC customer reduction (Q4 2024): 60% quarter-over-quarter.

Business-to-Business (B2B) integration at partner merchant websites and POS systems

The B2B channel is where FlexShopper, Inc. integrates its Virtual Lease-to-Own (VLO) technology directly into partner merchant websites or in-store terminals. This strategy is explicitly credited with driving consumers to the DTC marketplace, creating what management calls a powerful flywheel effect. The expansion here has been aggressive.

The number of stores signed to offer their virtual LTO solutions saw a massive 248% increase from the end of 2023 through January 2025. This resulted in FlexShopper's LTO offerings expanding to 7,900 locations by the first quarter of 2025, which is roughly a 250% increase over 2024. The application volume coming through B2B partnerships was up 279% year-over-year in January 2025.

B2B Channel Metric	Value/Rate	Period/Context
B2B Partnership Application Volume Growth	279%	Year-over-Year (January 2025)
Total Locations Offering LTO Solutions	7,900	As of Q1 2025
Store Signings Growth	248%	From end of 2023 through January 2025
Total Lease Funding Approvals (2024)	$382.8 million	Full Year 2024

Mobile application for customer access and account management

FlexShopper, Inc. utilizes mobile applications as part of its omni-channel payment solutions, supporting both the e-commerce marketplace and in-store point of sale experiences. While specific user metrics like active users or downloads for late 2025 aren't detailed in the recent reports, the technology is noted as being part of the easy-to-use, technology-enabled application process. The platform is designed to offer flexible funding options to consumers across various touchpoints.

Third-party payment waterfall providers for application referrals

The company relies on expanded partnerships with payment waterfall providers to broaden its reach and funding capacity. These third parties, which include providers like PayPal, help FlexShopper, Inc. serve a wider base of customers who might not qualify for traditional Buy Now Pay Later (BNPL) options. This channel strategy is clearly working to drive volume, as evidenced by the overall surge in applications.

The company also has a credit agreement that was recently expanded in April 2025 to allow for funding commitments up to $200 million, up from a previous $150 million. Furthermore, FlexShopper, Inc. raised $12.2 million in proceeds from its rights offering between the beginning of November 2024 and early 2025. One specific partnership with PayTomorrow was noted with a potential to expand from 1,400 retail locations to over 4,000 over time.

Finance: draft 13-week cash view by Friday.

FlexShopper, Inc. (FPAY) - Canvas Business Model: Customer Segments

You're looking at the core of FlexShopper, Inc.'s strategy: serving consumers who need durable goods now but can't access traditional credit lines. This is the segment that traditional 'buy now pay later' (BNPL) providers often decline.

The primary target is clear: nonprime consumers, typically defined as those with FICO scores below 660. FlexShopper, Inc. focuses on this group through both its direct-to-consumer (DTC) marketplace and its business-to-business (B2B) retail partnerships. Honestly, the company's proprietary application process is designed to look beyond just the score, considering factors like income and job history to approve applicants, which helps serve the broader underbanked and credit-challenged individuals needing essential items. As of early 2025, the demand from this segment was accelerating; for instance, new customer application volume in January 2025 surged by 130% year-over-year.

These shoppers are specifically looking for immediate access to high-value items without a large upfront cash outlay. They seek the flexibility of weekly or monthly lease payment schedules to manage their cash flow effectively. Once approved, customers are typically granted a spending limit of up to $5,000 across the available network.

The types of goods these customers seek are generally essential or high-desire durable products. Here's a breakdown of the categories that drive their lease originations:

Product Category	Specific Examples/Context	Relevant Metric/Data Point
Electronics	Computers, Tablets, Cell Phones, Smart TVs, Gaming Consoles	Spending limit up to $5,000 available for use across over 100,000 items.
Home Furnishings	Sofas, Bedroom Suites, Mattresses	FlexShopper, Inc. expanded its LTO offerings to 7,900 retail locations by the end of 2024.
Appliances	Refrigerators, Washers, Dryers, Vacuums	The company provides financing for customers traditional BNPL providers would typically not fund.
Other Durable Goods	Audio equipment, Sports & Outdoor Recreation, Tools	Lease originations increased 49.7% year-over-year in the first quarter of 2025.

To give you a better sense of the typical applicant profile based on data from late 2024, which informs the current segment:

• Median Monthly Income: $3,300.
• Average Age: 40 years old.
• Customer Base Composition: Approximately 62% female customers.
• Housing Status: Roughly 68% are renters.

The success in attracting these customers is evident in the operational metrics; for example, FlexShopper, Inc. achieved a 105% year-over-year increase in retail product margin dollars on its marketplace in January 2025, showing the segment is both large and becoming more profitable.

FlexShopper, Inc. (FPAY) - Canvas Business Model: Cost Structure

You're looking at the key expenses driving the FlexShopper, Inc. business model as of late 2025. The cost structure is heavily influenced by financing costs and managing credit risk, which is typical for a lease-to-own and lending platform.

The most significant, non-operational cost centers revolve around the capital structure and asset quality management. You see this clearly when you look at the debt load and the necessary provisioning for potential losses.

Here's a breakdown of the primary cost components that you need to track:

• Technology development and maintenance for the VLO platform.
• High interest expense on debt.
• Provision for doubtful accounts.
• Cost of goods sold (COGS) for leased inventory.
• Marketing costs associated with customer acquisition.

The financing cost is a major lever here. The interest expense on debt for the full fiscal year 2024 hit $22.1 million. This is a direct reflection of the capital required to fund the lease and loan originations that drive revenue.

Managing credit risk is another substantial, variable cost. The company sets aside an allowance for expected losses, and the metric for this was quite telling in the third quarter of 2024. The provision for doubtful accounts was recorded at 22% of gross lease billings for Q3 2024. That's a key percentage to watch for asset quality trends.

The cost tied directly to the leased merchandise, even with an asset-light model, is substantial. The trailing twelve months (TTM) annual Cost of Goods Sold (COGS) for leased inventory was reported at $31.158 million.

Customer acquisition costs are being actively managed for efficiency. Marketing spend is being optimized, showing real results early in 2025. Specifically, there was a 34% year-over-year reduction in marketplace marketing cost per new customer recorded in January 2025.

To put these major financial components side-by-side, look at this summary of the key expense drivers:

Cost Category	Financial Metric/Amount	Period/Context
Interest Expense on Debt	$22.1 million	FY 2024
Provision for Doubtful Accounts	22%	Q3 2024 of Gross Lease Billings
COGS for Leased Inventory	$31.158 million	TTM Annual
Marketing Cost Efficiency	34% reduction	Per New Customer in Jan 2025
Technology Investment	Unspecified Amount	Ongoing for VLO Platform

Beyond the direct financing and credit costs, you have the ongoing investment in the platform itself. FlexShopper, Inc. must maintain and enhance its proprietary VLO platform, which is central to its B2B and DTC operations. This includes costs for technology development and maintenance, which are essential to supporting the growth in merchant locations and the increasing application volume.

Here are the key areas where capital is being deployed to support the platform and growth:

• Technology development and maintenance for the VLO platform.
• Marketing expenditures to drive new customer originations.
• Personnel costs supporting underwriting and collections teams.
• General and administrative expenses supporting the corporate structure.

Finance: draft 13-week cash view by Friday.

FlexShopper, Inc. (FPAY) - Canvas Business Model: Revenue Streams

You're looking at how FlexShopper, Inc. (FPAY) brings in money, which is key to understanding its financial health as we move through late 2025. The revenue streams are built on a foundation of flexible consumer financing and direct sales.

The core business still relies heavily on the lease-to-own (LTO) portfolio. Lease revenues and fees from this segment are supported by strong origination momentum seen earlier in the year. For instance, lease originations increased by 49.7% year-over-year for the first quarter of 2025. Also, profitability in 2025 is expected to benefit from the contribution of payments on leases that were originated throughout 2024.

A significant growth driver is the Revolution Loan business. Revenue from this segment is clearly accelerating, as new customer originations in the Revolution Loan business increased by 88% year-over-year in January 2025. This marked the fifth consecutive month of year-over-year new customer origination growth for that specific product line.

Retail sales revenue from the FlexShopper.com marketplace is an increasingly important component. This DTC channel added incremental revenues and profits in 2024, which is the first full year of that retail revenue strategy. To show the strength in this area, retail product margin dollars on the FlexShopper.com marketplace were 105% higher year-over-year in January 2025.

Here is a look at the key financial projections for the full fiscal year 2025, based on guidance provided earlier in the year:

Financial Metric	FY 2025 Projection Range
Gross Profit	Between $90 million and $100 million
Adjusted EBITDA	Between $40 million and $45 million

The revenue streams can be broken down by their source and recent performance indicators:

• Lease revenues and fees from the core lease-to-own portfolio, supported by Q1 2025 lease originations up 49.7% year-over-year.
• Revenue from the Revolution Loan business, which saw new customer originations grow 88% in January 2025.
• Retail sales revenue from the FlexShopper.com marketplace, evidenced by a 105% year-over-year increase in retail product margin dollars in January 2025.

The company expects continued operating leverage in 2025, driven by these revenue streams and disciplined cost management.