Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

John Juma

๐Ÿ‘ค Speaker
99 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

James, who joined us later, got a small stake and most of that remaining equity, some of it went to our preceding investor, Antler, a global VC company.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

And then thereafter, we raised a million dollars round where we embodied investors from New York and a couple of other interesting angels.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

Yeah, before we raised, the 20% was owned by Antler.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

We raised our pre-seed round March of last year, March of 2021, $100,000 after graduating from Antler's generator program, where we spent about 20 weeks with Kennedy, just ideating.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

And the mantra there was fall in love with the problem.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

And that's what we spent 20 weeks identifying.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

What's this major pain that businesses go through while they're managing their finance operations?

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

So that's after the program, Antler now invested after seeing the size of the problem and how we were addressing it.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

Considering the fact that myself and Kennedy have worked in banks, understand clearly what customers are looking out for, how they're suffering from this problem around receivables.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

So the second round was, we started off late last year.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

We went out looking for a million dollars.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

basically to strengthen products, because it's quite a lot of integration work that we need to build into ERPs or stroke accounting systems and spend a lot of time also connecting to banks because that's the other data source.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

We need to compare bank payments and ERP invoices.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

So we finalized around about a month ago, and this article was also highly

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

posted into like TechCrunch and a couple of other payments.com.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

Precisely.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

That was about 14%-ish.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

We have about five customers already.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

Okay.

SaaS Interviews with CEOs, Startups, Founders
5 Kenya Customers Pay $25k/yr For this AR Management Platform, $6.5m Valuation

Thereabouts, but it depends because we have varying products within our portfolio sets.