Over the past couple of decades, RRE has been lucky to work with some of the most innovative companies in financial technologies. Companies like Bread, accelerating point-of-sale financing, or Venmo, creating peer-to-peer payment networks, or Ladder, rethinking the way consumers purchase life insurance. Clyde's simple yet powerful approach to warranties clicked with our team from the very beginning.
We’ve seen plenty of RRE’s portfolio companies struggle to set up warranty programs because of the immense amount of work needed to get a warranty program up and running—despite the fact that warranty programs are almost always a pure profit center for the businesses that have them. Readying product reliability data, researching the massive array of insurers who might underwrite the program, and messaging each individual insurance company for quotes has to happen before the business can even get started. Next, they’ll need to build the actual product workflow to manage those warranties effectively—it’s just too much work for a resource-constrained company to undertake as they scale their core business.
Clyde eliminates or alleviates all of these challenges by enabling companies to simply set up and manage warranty programs. Their API and e-commerce plugin makes it easy to improve companies’ bottom line and offer a great service to their customers. They bring in insurers by allowing them access to untapped industries and markets, matching them with businesses who can set up risk-free, passive profit on autopilot within minutes.
The $44B warranty industry is already immense, and we look forward to partnering with Clyde to expand this lucrative market.