Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2020
Statement of Cash Flows [Abstract]        
Net loss $ (182,260) $ (169,484) $ (49,996) $ (41,587)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Provision for losses on receivables   60,749   21,294
Depreciation and amortization expense   2,392   1,108
Change in deferred fees and costs, net   1,827   1,103
Change in fair value of warrants   39,629   14,419
Change in fair value of subordinated convertible notes   41,877   4,000
Change in fair value of contingent consideration from mergers and acquisitions   10,838  
Gain on PPP Loan forgiveness   (3,207)  
Gains on foreign currency translation   (431)   (179)
Stock compensation expense   5,039   1,650
Changes in assets and liabilities, net of effects of business combination:        
Accrued interest receivable   (449)   231
Other assets   (17,050)   (4,199)
Accounts payable and accrued liabilities   19,701   5,188
Net cash (used in) provided by operating activities   (8,569)   3,028
Net originations and collections of finance receivables   (131,737)   (41,562)
Purchase of property, equipment and software   (479)   (1,185)
Acquisition of Malka Media Group LLC, net of cash acquired   (12,145)  
Net cash used in investing activities   (144,361)   (42,747)
Cash flows from financing activities:        
Repayments to secured/senior lenders   (798)   (18,333)
Repayment of related party loan   (5,000)  
Proceeds from issuance of related party loan     5,000
Proceeds from issuance of special purpose vehicle credit facilities   146,000  
Proceeds from issuance of subordinated convertible notes   36,750   10,000
Borrowings from secured lenders   20,000   16,697
Payment of deferred financing costs   (5,147)  
Redemption of founders common stock   (9,700)  
Payment of redeemed stock options   (12,741)  
Proceeds from issuance of common stock related to exercise of stock options and warrants   252   134
Proceeds from reverse capitalization, net of transaction costs   293,239  
Issuance of Series C-1 preferred stock     12,025
Contributions from redeemable noncontrolling interests   53,000   10,750
Redemptions by redeemable noncontrolling interests   (127,391)   (17,645)
Distributions to noncontrolling interests   (10,237)   (3,795)
Net cash provided by financing activities   378,227   14,833
Net change in cash and restricted cash   225,297   (24,886)
Cash and restricted cash, beginning of year   20,927   45,813
Cash and restricted cash, end of year $ 246,224 246,224 $ 20,927 20,927
Supplemental disclosure of cash flow information:        
Cash paid for interest   4,378   3,090
Supplemental disclosure of non-cash investing and financing activities:        
Accrued dividends on redeemable convertible preferred stock   (14,292)   (17,209)
Series C-1 redeemable convertible preferred stock issued to acquire WTI     27,929
Conversion of preferred stock to common stock   302,475  
Issuance of common stock related to convertible debt   92,627  
Issuance of common stock related to warrants exercised   85,502  
Acquisition of private warrants   $ 29,466