Sebastian Siemiatkowski

We did that.

We did that.

And then that grew and we were successful.

And then that grew and we were successful.

I mean, people don't know this, but we were, we raised $60,000 in our first angel investment.

I mean, people don't know this, but we were, we raised $60,000 in our first angel investment.

$30,000 of that was spent and then we became profitable.

$30,000 of that was spent and then we became profitable.

And we were running this as a profitable company from 2005 to 2019.

And we were running this as a profitable company from 2005 to 2019.

We had almost 10 consecutive years of high growth and profitability that actually got us like this reward because we were like only one of two companies in Sweden that ever had such a long streak of high growth and profitability at the same time.

We had almost 10 consecutive years of high growth and profitability that actually got us like this reward because we were like only one of two companies in Sweden that ever had such a long streak of high growth and profitability at the same time.

But what we realized also over time was suddenly I'm sitting one evening and I'm looking at my P&L and I'm like, wow, what is that line?

But what we realized also over time was suddenly I'm sitting one evening and I'm looking at my P&L and I'm like, wow, what is that line?

Oh, shit, that's late fees.

Oh, shit, that's late fees.

That's a big revenue line.

That's a big revenue line.

And I was like, that's not going to be long-term sustainable.

And I was like, that's not going to be long-term sustainable.