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5 to 5. 5 percent of the revenues collected by the operation, meaning Think Finance and other third parties received an estimated 500 million to 700 million. T he huge possibility for profit in this industry has caught the cash advance riverdale ga of Silicon Valley investors, who look at the people on the fringes of the banking system and see a huge potential customer base. Almost 10 million American households have no bank account. A further 25 million households (almost 1 in 5) have a bank account but also use non-bank financial products like payday loans.
Think Finance has benefited from this flow of Silicon Valley money. Sequoia Capital (which famously funded Oracle, Cisco, Yahoo and Google) and Technology Crossover Ventures (which has invested in Facebook, Netflix, Spotify and Vice) have each backed the company.
Through a spokeswoman, Technology Crossover Ventures declined to comment. Sequoia did not respond to requests for comment. While lending companies and their investors rake in money, however, the situation is more precarious cash advance riverdale ga the more than 3 million Americans who take out online payday loans each year.