Block's Cash App Gambit: Betting Big on Lending Block's recent quarterly earnings report was notable for its impressive financials, but it also highlighted the company's strategic bet on its most promising segment: Cash App's lending business.
The 31% year over year increase in gross profit and 59% jump in consumer lending origination volume demonstrate Block's commitment to turning Cash App into a major player in financial services.
The key driver of this momentum is Cash App Score, the company's proprietary credit scoring system.