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Justin Fischer

๐Ÿ‘ค Speaker
222 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

And so for us, we went back to some existing investors who knew the story, wanted to be involved.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

And, you know, some of them just instead of being pro rata came in more than where they were and said, you know, we're in it.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

We're going to come in with you.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Yeah, actually.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

So we're on the typical start of a Series A now, given that our revenues are crossing that point.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

And really, honestly, the biggest part is we're in that typical flux now where time to add more devs, time to add more sales.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

I can't mention the two partnerships we just landed, but they open up about 3,500 banks worldwide.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

trusted partnerships for resale.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

So that's another thing is rather than build a big sales team, working with our trusted partners to be able to push out channel partners, if you will, what we do makes the enterprise sales go a lot faster.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Uh, yeah, I mean, look, I, you know, our net burn isn't, isn't bad.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Um, what I try to look at it as is, you know, really might try and make sure we don't get under that four or five month of, um, runway burn because I just don't want to get in a spot.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Like I'm never one to hire and then have to worry about putting people on, you know, doc.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

So, um, and I'm, I'm lowest paid employee, um, you know, in the, in the company.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

So I think the, the bottom line is for us is, um, you know, just get a good raise here, get, see if we can, um, we can, we can get a good valuation and FinTech is, is pretty enthusiastic right now.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

I think we're going to be looking around 8 to 10.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

It's a pretty typical series A round.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Honestly, man, the valuation is going to be interesting.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Some of this is what market to bear, but if I'm a founder saying what I want, I think we're in the mid-30s, high 40s, somewhere in there, depending on how we look at the TAM and the process.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

The churn is like absolutely non-existent, right?

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Because the only churn that we kind of exposed to is if a bank calls back their program, but they don't really churn the enterprise agreements with us because it's very sticky, right?