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176. Bull, Bear & Beyond – LM PAY: executive interview
6 Plays29 days ago
LM PAY is a Polish fintech specialising in consumer financing for beauty and healthcare services via business-to-business partnerships. In this interview, Jakub Czarzasty, CEO of LM PAY, explains how medical and beauty treatment financing works in Poland and how it supports LM PAY’s business model. He talks about the company’s competitive advantages, including its embedded finance model and well-established relationships with clinics and beauty salons. He also comments on the new financing agreement with Aion Bank and outlines new product initiatives, most notably car insurance financing and the MediPay Mobile by Visa card.
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About ‘Bull, Bear & Beyond’
Bull, Bear & Beyond': features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.
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Transcript
Introduction to Edison TV and EllemPay
00:00:07
Speaker
Hello and welcome to Edison TV. I'm Miłosz Paps, director at Edison, and today I'm joined by Jakub Czerzasty, who is CEO at EllemPay, a fintech providing consumer finance and so-called CareNow PayLater solutions via B2B partnerships with our beauty and medical facilities, um allowing their clients to key finance treatments.
00:00:27
Speaker
Jakub, thanks for joining us today.
EllemPay's Market Expansion in Medical and Beauty
00:00:29
Speaker
It's a pleasure for me. Thank you. Maybe you can start by giving us some background on EllemPay and the market it serves. Oh, you know, you said a lot about us because you said that we are a FinTech and yes, that's true. We are a lending company and, but we are existing a real niche because we lend the money in um medical and the beauty markets.
00:00:51
Speaker
And recently we started to to lend the money ah in car insurance too. and So yes, let's make the story short in these three environments we are existing.
Role in Poland's Healthcare Financing
00:01:05
Speaker
Thank you. And that would be helpful too um to understand how the financing of ah medical and beauty treatments works in Poland and how does this the support Ellen Pace business model? ah You know, in Poland, we've got a public and a private healthcare.
00:01:21
Speaker
So, of course, we are existing in the the second one, because the situation in Poland, we've got quite high level of public medical health and beauty.
00:01:36
Speaker
ah Unfortunately, we've got our very, very long lines to the specialists and hospitals. That's why many people decided to go to the private healthcare. ah That's why our installments plan and our postponed payments and works very well in Poland.
00:01:55
Speaker
ah So, you know, I can say that we we we are just some kind of bridge between the clinics between the clinics and the patients. So ah we deliver some solutions to payment in a private healthcare. That's how it works. Thank you. that
EllemPay's Competitive Edge
00:02:11
Speaker
That's helpful. Maybe you can now shed some light on your competitive advantage and advantages, especially in terms of you your embedded finance model, the strong relationships you have with clinics and beauty salons and and your cost of risk.
00:02:24
Speaker
I can say that you know our the biggest our advantage is that we started 15 years ago and no banks, no lending company. didn't want to to do it of course it was some kind of coincidence but this is a story for another myth mythic i guess but you know nobody nobody in the clinics has more than two or three minutes to to make a payments with the with the clients especially with the payments if we are talking about the postponement on installments plan
00:02:59
Speaker
So that's why 15 years ago we referred lot from the specialists, from the doctors, from the owners clinics, how it should work. And then we decided to ah to deliver some a proposal, a dedicated installments plan system So that was our advantage and I'm pretty sure that because we just have eaten the biggest cake, the biggest piece of the cake, and that's why you are the first in ah in a Poland now.
00:03:35
Speaker
in port antonau Thank you. This this has definitely been an interesting journey for
New Financing with Unicredit
00:03:40
Speaker
you. um And now in terms of your most recent developments, I think an important highlight was that you secured ah new financing agreement, IronBanks. Maybe you can also talk us through with that.
00:03:52
Speaker
That's true. on A few months ago, exactly in the last days of September, we started to cooperate with one of the biggest band group in Europe, I mean Unicredit.
00:04:04
Speaker
ah Before ah before um really this big group, we we've got a cooperation with Fortress i investment group.
00:04:15
Speaker
so it was a great partner but now we exchange it that's true and you know with today we've got some achieve that our figures in the next year and especially if we are talking about the net net income will be the look but will look will be look great because ah today we've got a much cheaper debt so you know it will collaborate as a better and better and our figures in the next year but of course i cannot tell you any details because it's a fully confident fun confidentials but i can only say that that is up till now the cooperation is really really great with unicrate Thank you. I'm sure investors will soon ah be able to find out ah with your ah upcoming results announcements.
Launch of New Business Lines
00:05:13
Speaker
no xtx And then finally, it would be good also to to hear more about your new product initiatives because you've already mentioned the car insurance financing ah product is very important, a very important growth project for you.
00:05:25
Speaker
ah So maybe you could ask more about it and and any other product initiatives you are currently working on. yeah we just launch We have just launched two quite new business lines. The first is ah insurance car insurance, that's true. and But we started a project with together with Visa and we are launching our Medipay card and from the first days of January 2026. So we will see how it looks like. it's ah
00:05:57
Speaker
brand new lines and we've got some expectations rising our revenue minimum twenty thirty percent next year thanks to this new line of products. So yeah, that's true. That's two lines, insurance and Medipay card together with Visa.
00:06:15
Speaker
Jakob Tersassin, CEO of LMPay, thank you for this very interesting conversation. Thank you very much.