[AlePra00]

You’re right that tech-lilliterate retirees aren’t our customer. Our early adopter is 25-40, digitally comfortable, has money sitting idle not because they’re scared of investing but because they want liquidity and simplicity without decisions. Stocks/ETFs are a different risk profile you can lose 20% in a quarter. Our yield comes from overcollateralized lending (150-200% collateral). It’s not risk-free, but it’s fundamentally different from equity exposure. We’re filling the gap between “savings account earning nothing” and “invested in markets with real volatility” — liquid, passive, stable yield. That gap doesn’t really exist in European fintech today.