The iSoftpull Marketplace
A network inside the client portal where iSoftpull clients find each other. Lenders publish the credit criteria and rates they want. Brokers, dealers, contractors and lead generators see which lenders an applicant qualifies for the moment they pull credit, and send the lead with one click.
| Volume | Reports / mo | Leads / yr | Per-lead | Listings | Total, central | Low to high |
|---|---|---|---|---|---|---|
| Today | 150,000 | 55,000 | $3.3M | $0.9M | $4.4M | $1.6M to $11.8M |
| 2x | 300,000 | 110,000 | $6.6M | $1.8M | $8.8M | $3.2M to $23.6M |
| 3x | 450,000 | 165,000 | $9.9M | $2.7M | $13.3M | $4.8M to $35.4M |
Why this works for iSoftpull specifically
About 875 active client accounts split almost evenly between lenders and non-lenders, with roughly one in ten doing both. That is the two-sided market already sitting inside one platform. The non-lenders pull credit on applicants they often cannot place. The lenders spend real money buying leads from aggregators who sell the same consumer to four or five of their competitors. Both sides are already iSoftpull clients, already credentialed, already pulling through us.
The same rules engine that powers Credit Intelligence does the matching. Evaluation happens on iSoftpull servers, against the puller's own report, and only a pass or fail result plus the applicant's contact details move to the lender. The credit report never leaves the account that pulled it. That is the same clean path the Intelligence API already uses to stay clear of bureau restrictions on sharing credit data.
How it works
Nobody sees a puller's applicants but the puller
Not the lenders, not other clients, not the marketplace. Matching runs against the puller's own pull inside their own account. Nothing about an applicant moves until the puller sends it, and then only to the lender they chose.
The two sides
- Brokers and ISOs in business and commercial lending
- Franchise and independent auto dealers
- Solar, roofing, HVAC and home improvement contractors
- Mortgage brokers and real estate teams
- Tax relief, medical and dental practices, pet stores and other point-of-sale sellers
Their pain: applicants they cannot place, declines that go to waste, and no clean way to earn on either.
- Business and working capital lenders
- Equipment finance companies
- Solar and home improvement lenders
- Personal loan and point-of-sale lenders
- Indirect auto lenders and mortgage lenders
Their pain: expensive, shared, unqualified leads. A prequalified, consented, exclusive lead is worth a multiple of what they pay today.
How iSoftpull makes money
Charge the lenders, not the pullers. Pullers are the supply side and matching should be free for them. Lenders are the demand side and already have a lead budget. Three revenue lines stack.
The lender pays when a lead is sent. In the stronger version this runs as an exchange: lenders set a bid price per lead per program, the puller gets paid for leads they would otherwise throw away, and iSoftpull keeps a 20 to 30 percent take. "Monetize your declines" is a real pitch to a solar installer or a broker.
A monthly fee to publish programs and receive matches, tiered by number of programs and states. Predictable, software-style revenue.
Every sent lead produces a second pull when the lender runs its own report, and the lender is already an iSoftpull client. Smaller in dollars, but it also gives accounts that pay and rarely pull a reason to start.
Sizing
These are estimates built from stated assumptions, not forecasts. The two numbers that move the result most are how many lenders list and how often pullers send a matched lead. At 150,000 reports a month, the central case works out to about 55,000 leads sent per year.
Assumptions
| Assumption | Value used |
|---|---|
| Credit reports processed | 150,000 per month · 1.8M per year |
| Share of pulls from non-lenders (brokers, dealers, contractors) | 30 to 40% |
| Applicants matching at least one listed program | 50% |
| Matches the puller actually sends | 10 to 25% |
| Blended lender price per lead | $40 to $100 |
| Lenders paying to list, out of roughly 400 lender accounts | 100 to 200 |
| Listing fee per lender per month | $300 to $1,000 |
Annual revenue at maturity
| Revenue line | Low | Central | High |
|---|---|---|---|
| Per-lead fees | $1.1M | $3.3M | $9.0M |
| Listing subscriptions | $0.4M | $0.9M | $2.4M |
| Incremental pulls | $0.1M | $0.2M | $0.4M |
| Total per year | $1.6M | $4.4M | $11.8M |
Maturity means year two or three after launch, once a meaningful share of lenders have listed programs. Year one is smaller and mostly about seeding the lender side.
What it means for the company
The central case adds roughly half again on top of today's run rate. At a 6x revenue multiple that is on the order of $26M of enterprise value, and marketplace revenue with network effects often prices above plain software. It will not be in this year's numbers. It belongs in the growth story as the clearest example of what a buyer can build on the existing client base.
This is sized on today's volume. iSoftpull is growing.
The central case assumes the pulls we do right now. The marketplace is a percentage of every applicant that flows through iSoftpull, so it grows with the core business. The table at the top of this page runs the same model, same assumptions, at double and triple today's volume: $4.4M today, $8.8M at 2x, $13.3M at 3x. The client base is assumed to grow with the pulls, so listing revenue scales too. Incremental pull revenue from lenders running their own report on each lead is included: $0.2M today, $0.4M at 2x, $0.7M at 3x.
Why it grows faster than the pulls
A straight multiple understates it. Marketplaces get more valuable as they get denser, and this one feeds the core business that feeds it.
Today's model assumes half of applicants match at least one listed program. As more lenders list, more applicants match somewhere. At a few hundred listed programs across all verticals, two out of three is realistic.
The first time a broker or installer earns money on a decline, behavior changes. The send rate moves from a fraction of matches toward most of them.
Non-lenders join iSoftpull to reach the lenders. Lenders join to reach the pullers. Every new account pulls credit, which is the core business. The marketplace becomes a sales channel for pulls, not just a line on top of them.
When four lenders see the same qualified borrower, rates tighten and lead prices hold. Better offers for consumers, more valuable leads for pullers, and iSoftpull sits in the middle of every one.
The upside case
Take the 3x row and let the network do its work: two thirds of applicants match instead of half, and pullers send one in four matches instead of one in six. That is roughly 300,000 leads a year and about $22M in marketplace revenue, before counting the pulls the marketplace brings in on its own. It is an illustration, not a forecast, but it shows where the leverage is. Pull volume sets the floor. Network density sets the ceiling.
Legal guardrails that shape the model
RESPA Section 8 bars fees tied to a mortgage closing. For that vertical the price has to be a flat per-lead or subscription fee with no link to whether the loan funds.
A percentage of the funded amount turns iSoftpull into a loan broker in many states and triggers licensing. Flat fees keep iSoftpull a software and marketing platform.
The consumer initiated the application and consented to sharing. Only pass or fail plus contact details travel. The prequalified APR is an estimate, never a firm offer, or it drifts toward prescreen rules. Bureau agreements still need a read: TransUnion's one-time-use clause and Experian's derivative-product language deserve the same rep conversation planned for the AI features.
See it
The interactive mockup shows both sides: the lender directory, an applicant's matches with amount financed, APR and payment, the lender's program and rate-tier setup, and the connections inbox.