Happen (HAPN) Corporate presentation summary

Business overview and strategy

• Focuses on high-FICO, high-income, digitally savvy borrowers known as the "Motivated Middle."

• Operates a digital marketplace bank model combining a bank balance sheet with a loan investor marketplace.

• Offers personal loans, auto refinance, and major purchase financing, with over $100B in loans funded since inception.

• Strategy centers on acquiring with lending, engaging through digital tools, and deepening relationships with innovative products.

• Delivers frictionless, value-driven digital experiences with high customer satisfaction and retention.

Market opportunity and growth

• Addresses a $2.5T total market across personal loans, auto refinance, and home improvement financing.

• Credit card refinancing alone represents a $1.25T opportunity; home improvement is a $500B annual market.

• Achieved a 33% originations CAGR from Q1 2024 to Q2 2026.

• Repeat borrowers account for ~50% of loan volume, driving higher lifetime value and lower marketing costs.

• Near-term targets include 13-15% ROTCE and 20-30% annual originations growth in the medium term.

Product and technology differentiation

• Proprietary underwriting model approves 2.4x more borrowers at the same risk as FICO-based models.

• DebtIQ platform provides next-generation debt monitoring and management for members.

• Award-winning personal loans, high-yield savings, and checking products with features like instant approval and cash back.

• Over 90% of loans are fully automated, with application times under five minutes.

• Delivers 400x higher savings APY and 700bps lower loan APRs compared to leading national banks.