In this episode of The Credit Bubble, I sit down with Jared Shulman, founder of Daylit (formerly Lendica), to talk about his path from the hedge fund world into building an AI-native lending and collections business for small and middle-market companies. Jared shares how he taught himself to code early in his career, how Daylit started by lending against accounts receivable using the real-time transaction data between buyers and sellers, and why the company underwrites the operator, not just the financials.
We discuss Daylit’s move into AI-driven collections: why 45% of B2B invoices are paid late, why traditional dunning tools fall short, and how the company’s agents work to resolve the issue behind an unpaid invoice rather than just chase payment. We also get into how the financing and collections products fit together, and why real-time supply-chain data helped keep default rates under half a percent.
Jared also shares his view on where AI agents are heading across the supply chain, including his analogy of bringing a Jane Street–style approach to the finance function of a mid-market distributor.
