Non-Consensus Investing · Oct 10, 2026 · 50m · 42m saved
With Al Goldstein, co-founder/CEO, StoicLane; co-founder, Avant and Enova
StoicLane has bought 90 companies since 2021, Al Goldstein said, most of them small accounting, payroll and IT firms that serve small businesses.
Private-equity buyers have rolled up fragmented trades for decades. Goldstein's version adds AI tools to each firm he buys, and he said the payroll unit has tripled its business while adding only four employees.
"If we can make our accountants that much more efficient, and I think we're going to make them tremendously more efficient, we can just do more for the clients as their trusted adviser." — Al Goldstein
Goldstein, co-founder and CEO of StoicLane, earlier co-founded the consumer lenders Enova and Avant. He came to the US from the Soviet Union at age 8, and he now says StoicLane can grow into a business with more than $1 billion in revenue.
The full interview is covered here so you can skip it. 50 minutes of audio, 8 minutes of reading.
Here are the 12 takeaways that matter.
Key Takeaways
Avant has lent nearly $18 billion since 2012 to middle-income Americans
Lending is easy and collecting is hard, which is the test for new fintech banks
His best Avant engineers now do 100 times more, and one rebuilt the mobile app in weeks
AI voice agents settle more than 60% of Avant's service calls without a live agent
A permanent age of abundance worries him more than a rogue AI
He called the rise of socialism in America very scary
StoicLane has bought 90 companies, mostly accounting firms with $2 million to $10 million of revenue
Integrating each firm takes 18 to 24 months because of tax season
The payroll unit has tripled with almost the same staff
Startups that try to replace all execution with AI will fail, he said
1. Avant's Middle-Income Bet
Goldstein opened with Avant, the 13-year-old online lender he co-founded in Chicago.
Avant has originated nearly $18 billion of personal loans and credit cards since 2012 and served nearly five million consumers
"Our mission has not changed from day one, which is to be the core financial partner for the middle-income US consumer" — Al Goldstein
He put that market at more than 100 million people that banks and most fintech rivals serve poorly. Avant has issued nearly 3 million credit cards, he said. More than 500,000 customers have signed up for its credit builder, a money-management tool.
