---
# System prepended metadata

title: 'Collateral Call Summary - Episode #27'
tags: [Collateral Call]

---

---
tags: Collateral Call
---

# Collateral Call Summary - Episode #27
February 17th, 2021

## Agenda

- [00:00](https://www.youtube.com/watch?v=KInQ7nVP9pc?t=0): Intro with Juan Guillén
- [02:10](https://youtu.be/KInQ7nVP9pc?t=130): Fortunafi with Nick García and Derek
- [00:00](): Q&A and Discussion about Fortunafi

## Video

<https://www.youtube.com/watch?v=KInQ7nVP9pc>

## Introduction

### Juan Guillén

#### Agenda and Preamble
[00:00](https://www.youtube.com/watch?v=KInQ7nVP9pc?t=0)

- Welcome to another MakerDAO Collateral Call. Today we have another session with real-world assets, or real-world finance. We'll have Nick from Fortunafi presenting their project.
- Before we start, I don't know, Seb, if you want to give some [real-world finance updates, maybe an update on MIP21, MIP22 or what's happening (00:57)](https://youtu.be/KInQ7nVP9pc?t=57)
- Discussions about collateral happen in the [Forum.](https://forum.makerdao.com/c/risk/collateral-meetings/23)

## Fortunafi

- [[FFT1-DROP] MIP6 Application: Fortunafi DROP: Revenue Based Financing Assets](https://forum.makerdao.com/t/fft1-drop-mip6-application-fortunafi-drop-revenue-based-financing-assets/6015)

### Nick García and Derek

#### Presentation
[02:10](https://youtu.be/KInQ7nVP9pc?t=130)

![Fortunafi](https://i.imgur.com/0k7cRcu.png)

![Team](https://i.imgur.com/Px5zHDd.png)

![Vision](https://i.imgur.com/Cb31YRL.png)

![Why RBF Assets?](https://i.imgur.com/KSdQLNF.png)

![Revenue Based Financing](https://i.imgur.com/cp3hlWx.png)

![Growing Assets Class](https://i.imgur.com/8aDwsTA.png)

![CORL](https://i.imgur.com/WgDlrm7.png)

![CORL - Underwriting Report](https://i.imgur.com/CxMZiJ1.png)

>[10:22 --- Tadeo: This is essentially a cashflow-based underwriting, right?](https://youtu.be/KInQ7nVP9pc?t=622)

>[10:45 --- Greg DiPrisco: How are you custodying these assets? How are you structured?](https://youtu.be/KInQ7nVP9pc?t=645)

>[11:18 --- Payton Rose: Worst-case scenario would be that a company you just vetted starts selling next to nothing. That would be the worst-case scenario given that you have the senior debt](https://youtu.be/KInQ7nVP9pc?t=678)

>[12:07 --- Juan Guillén: Nick, is CORL one of the companies you're investing in or is it one of your partners that you use to invest in different projects?](https://youtu.be/KInQ7nVP9pc?t=727)

![CORL](https://i.imgur.com/7ODbNEp.png)

![Account Opening Page](https://i.imgur.com/pBvUtkK.png)

![Company Details](https://i.imgur.com/7bBUp2V.png)

![Financial Summary](https://i.imgur.com/yFBjGio.png)

![Business Services](https://i.imgur.com/MMPI29E.png)

![Business Owner's Details](https://i.imgur.com/DiD766r.png)

![Overview](https://i.imgur.com/1h8JdNA.png)

![CORL Explorer](https://i.imgur.com/Eal6oOA.png)

![Report](https://i.imgur.com/8rnsxg6.png)

#### Discussion

- [32:49 --- Payton Rose: Regarding the report rundown you're walking us through, is there a public version, something that anyone can access when you do choose to fund any of these companies?](https://youtu.be/KInQ7nVP9pc?t=1969)
- [33:39 --- Greg DiPrisco: I have a quick question on the data. I see that you're pulling from these APIs, but do you ever offer the client the opportunity to input the data themselves? And to what extent do you go through the data and verify that it's accurate even if it's pulled from an API?](https://youtu.be/KInQ7nVP9pc?t=2019)
- [35:53 --- Gred DiPrisco: Do you ensure that the companies are getting regular audits or that their accounting is being done by CPA?](https://youtu.be/KInQ7nVP9pc?t=2153)
- [36:30 --- Juan Guillén (paraphrasing Planet_x's question in the chat): Do you have an idea of the volume of these pools and their potential growth?](https://youtu.be/KInQ7nVP9pc?t=2190)
- [38:55 --- Nick García (repeating a question from Tadeo after a connection issue and then answering it): What is the target client SaaS companies, what size or maturity?](https://youtu.be/KInQ7nVP9pc?t=2335)
- [41:45 --- Payton Rose: I know that the community greenlight poll just went live for Fortunafi drop token. I was wondering if it would be worthwhile to explain what that token is or what it tracks. Is is the basket of the entirety, just a few you're selecting...?](https://youtu.be/KInQ7nVP9pc?t=2505)
- [43:06 --- Phil Chang: Derek, would you mind talking through the back-test that you've posted on the MIP6?](https://youtu.be/KInQ7nVP9pc?t=2586)

## Closing Comment

### Juan Guillén

#### Outro
[49:34](https://youtu.be/KInQ7nVP9pc?t=2974)

- NIck and Derek, you've already mentioned the websites of the projects, but I don't know if you want to maybe [mention them again and where people can find you, if you're on Twitter, LinkedIn...(49:45)](https://youtu.be/KInQ7nVP9pc?t=2985) Thank you for coming. Next week we're going to be speaking with Kain from Synthetix

## Credits

- @blimpa produced this summary.
- Everyone who spoke and presented on the call, listed in the headers.