Veritus Agent builds AI for consumer lending collections — 4,000 outbound calls and $50K collected in first month

Josh. Pleasure. Jordy. Good to meet you. Uh, introduce yourself for the stream. Who are what are you building? Well, I'm Joshua March. I'm the co-founder and CEO of Veritus Agent. We build AI agents for the consumer lending industry. Okay.

So interfacing with borrowers to help help doing sales, servicing, collections for like fintex, banks, credit unions, services, that kind of thing. Do you see your company as GPU poor or GPU rich? Uh I we're rich everything. You can have this.

Uh uh what uh how how have you like how have you what's go to market look like? Are you are you focusing are you trying banks involved? Yeah, I imagine there's like a couple BNPL players that would you know be be ideal. Yeah.

No, we're we're we're currently our first design partner was in the collection space collecting on medical payments. That's been super successful. We've done thousands of outbound calls, but but but sort of like a not a name that you necessarily recognize. And we're now launching business are big. Yeah. Exactly.

We're now getting live with a fintech who's launching us into their conversion funnel for like for sales. There's a big serer that's in the solar space. There's collections agencies. So, a big a handful. Makes sense. Did you have experience in the in the space prior to this? Yeah.

So I actually I previously built a contact center software company to like 15 million AR before I got acquired. Wow.

Um and then uh immediately prior to launching this company I was essentially working in like a web 3 credit fund and had invested into some emerging market debt buyers who are doing collections and servicing which kind of exposed me to the whole world. Oh that makes sense.

And I was like we should just do this with AI basically. Did you share any metrics today at demo day? Um yeah, the only we haven't uh converted any of we got our first design customer live like six weeks ago. We're now launching with like five more.

And the first customer uh the first design partner we did like 4,000 outbound calls and collected like 50k in the first month, which is like a big success, but like yeah, we're still getting going.

Uh are you how are you thinking about the are you thinking of selling like the result in some way like over time would you just charge a percentage? Yeah, it depends who we're selling to. So when we're selling to like a serer or collections agency, we'll probably just sell on usage based kind of pricing.

But when we're selling to fintexs and banks, then we'd love to do as much outcome based pricing as possible. And that's on the sales side, the collection side, everything. Uh we have been asking everyone two questions. First, who's your favorite entrepreneur of all time?

So, um, there's this guy, Felix Dennis, who was a who was a British entrepreneur, and he wrote this book called How to Get Rich. Yeah. Which I think is the best book on entrepreneurship. Okay. Um, and he's like a crazy guy. He's dead now, but he was like a crazy crazy guy. Big big into magazines.

Big you would love this guy. He owned like he was like PC Magazine, Maxim, The Week. He was like a big publisher. Did a load of different stuff. Felix Dennis. Felix Dennis. Great. I'll have to look him up. Uh, second question. How did you make your first dollar online on the internet or in business?

Yeah, so um I launched an e-commerce website when I was like 19, still at college and was selling uh selling like a load of home wares online. Home. Nice. Nice. John was selling uh were you selling DJ equipment international? He's an international businessman from a young age. International businessman at age 13.

It was great. 13. Nice. Awesome. Uh anyway, thank you so much for stopping by. Have a great congrats on the on the progress. Congrats on the progress. Let's move on to our next