I spoke with Stuart Thornton, a co-Founder and CEO of hoolah…nearly a month after hoolah announced a significant seed stage investment. Impressive for a company that was only founded in February 2018!
Inspired to build hoolah because of an identified market need, this is a solution that solves a pain point for merchants and shoppers alike.
Up to 75% of e-commerce consumers browse, add items to their shopping carts but don’t buy. hoolah helps solve this problem for by allowing consumers to increase their personal affordability with a buy now and pay later payment option, enabling interest free repayment in 4 equal installments.
While this may sound quite simple on the surface, the infrastructure that is necessary to do this and manage its inherent risks is non-trivial.
We talked about building this business in Singapore and his team's goals for Asian Expansion. We also discussed how this is not merely an online opportunity. Some of the same challenges with 'browsing but not buying' occur in physical stores as well and merchants and shoppers can benefit from hoolah's solution to increase conversions while also encouraging responsible affordability.
Finally, a couple of hoolah's earliest merchant partners are also some of his biggest supporters. Merchants like The Fifth Collection and castlery have been important partners in hoolah's development.