Matt Pierce

We launched our first customer in September 2019. So from April, wrote the first line of code in April and then launched the first customer in September. So, you know, nice four or five months there. And then we've just been growing steadily ever since.

We launched our first customer in September 2019. So from April, wrote the first line of code in April and then launched the first customer in September. So, you know, nice four or five months there. And then we've just been growing steadily ever since.

It was interesting because it impacted us in a couple of ways. So one, just from a pricing perspective, we initially had thought, well, if we're going to go do this, we'll just charge a small percentage for everything you pull out. If you've earned $500 and you want to pull $200 out, then we'll just charge you 5%, right? And we'll make $10. That sounds great.

It was interesting because it impacted us in a couple of ways. So one, just from a pricing perspective, we initially had thought, well, if we're going to go do this, we'll just charge a small percentage for everything you pull out. If you've earned $500 and you want to pull $200 out, then we'll just charge you 5%, right? And we'll make $10. That sounds great.

It was interesting because it impacted us in a couple of ways. So one, just from a pricing perspective, we initially had thought, well, if we're going to go do this, we'll just charge a small percentage for everything you pull out. If you've earned $500 and you want to pull $200 out, then we'll just charge you 5%, right? And we'll make $10. That sounds great.

Well, the problem with that is when you put percentages in there, it starts to look and feel a little more like a loan. And so we ended up going with a flat rate that is viewed more as a convenience fee, the same way as, you know, whether you pull out a hundred bucks or 200 bucks in an ATM, it's going to be the same ATM fee.

Well, the problem with that is when you put percentages in there, it starts to look and feel a little more like a loan. And so we ended up going with a flat rate that is viewed more as a convenience fee, the same way as, you know, whether you pull out a hundred bucks or 200 bucks in an ATM, it's going to be the same ATM fee.

Well, the problem with that is when you put percentages in there, it starts to look and feel a little more like a loan. And so we ended up going with a flat rate that is viewed more as a convenience fee, the same way as, you know, whether you pull out a hundred bucks or 200 bucks in an ATM, it's going to be the same ATM fee.

So, so that regulatory compliance kind of, kind of made us relook at and adjust the way we were structuring things from a business perspective. When you take it out and look at it from a product perspective, it really showed us how important it was to get the time tracking data. early on and we thought, hey, we can just integrate with payroll systems. We can do that.

So, so that regulatory compliance kind of, kind of made us relook at and adjust the way we were structuring things from a business perspective. When you take it out and look at it from a product perspective, it really showed us how important it was to get the time tracking data. early on and we thought, hey, we can just integrate with payroll systems. We can do that.

So, so that regulatory compliance kind of, kind of made us relook at and adjust the way we were structuring things from a business perspective. When you take it out and look at it from a product perspective, it really showed us how important it was to get the time tracking data. early on and we thought, hey, we can just integrate with payroll systems. We can do that.

And then we can get this feed out of the payroll system. We know their hourly rate. We know whether they're employed. We've got their employee ID. We can look at previous paychecks. So we can just kind of say, well, hey, look, every paycheck on average over the past, let's just say 90 days, you're averaging $1,000 a paycheck.

And then we can get this feed out of the payroll system. We know their hourly rate. We know whether they're employed. We've got their employee ID. We can look at previous paychecks. So we can just kind of say, well, hey, look, every paycheck on average over the past, let's just say 90 days, you're averaging $1,000 a paycheck.

And then we can get this feed out of the payroll system. We know their hourly rate. We know whether they're employed. We've got their employee ID. We can look at previous paychecks. So we can just kind of say, well, hey, look, every paycheck on average over the past, let's just say 90 days, you're averaging $1,000 a paycheck.

So we're going to assume that so long as you're employed, you're still getting that. We can make all these assumptions. Well, we know what happens when you start to make assumptions in a highly regulated environment. It doesn't really

So we're going to assume that so long as you're employed, you're still getting that. We can make all these assumptions. Well, we know what happens when you start to make assumptions in a highly regulated environment. It doesn't really

So we're going to assume that so long as you're employed, you're still getting that. We can make all these assumptions. Well, we know what happens when you start to make assumptions in a highly regulated environment. It doesn't really

And so again, kind of going back to these regulatory pieces, if we want to make sure that we're not viewed or regulated as a lender, then we've got to go build these time tracking integration. So it's just interesting how things evolve early on.

And so again, kind of going back to these regulatory pieces, if we want to make sure that we're not viewed or regulated as a lender, then we've got to go build these time tracking integration. So it's just interesting how things evolve early on.

And so again, kind of going back to these regulatory pieces, if we want to make sure that we're not viewed or regulated as a lender, then we've got to go build these time tracking integration. So it's just interesting how things evolve early on.