SaaS Interviews with CEOs, Startups, Founders
WeTipi Raising $500k Pre-Launch for Matching Tenants with Homeowners
05 Jan 2021
Chapter 1: What is the purpose of WeTipi and how does it work?
And now we're bootstrapping. Love that. And we are also raising now. So this is kind of, we run it in parallel.
Okay, I take back my love that comment. So how much are you looking to raise? Roughly about half a million to one million.
Chapter 2: How much funding is WeTipi looking to raise and for what purpose?
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Chapter 3: What is the business model behind WeTipi's matchmaking service?
Right now, you're only hearing partial interviews. And you'll get interviews three weeks earlier from founders, thinkers, and people I find interesting. Like Eric Wan, 18 months before he took Zoom public.
We got to grow faster. Minimum is 100% over the past several years.
Or bootstrap founders like Vivek of QuestionPro. When I started the company, it was not cool to raise. Or Looker CEO Frank Bean before Google acquired his company for $2.6 billion.
Chapter 4: When was WeTipi launched and what are its current revenue status?
We want to see a real pervasive data culture, and then the rest flows behind that.
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My guest today is Edberg Kosberg.
He is an entrepreneur with extensive knowledge of technology and products, started his first company in school selling cheat sheets, co-founded Foodoo, an online same-day grocery delivery, and then supported Lead Energy AG in moving R&D to Europe, both software and hardware, then built two custom ERP systems from scratch, now working on a company that is matchmaking for tenants and real estate.
It's called wetp.com.
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Chapter 5: What strategies is WeTipi using to build demand pre-launch?
Edgar, you ready to take us to the top?
Yeah, Nathan.
Okay, so wetp.com, you obviously have a marketplace here. Walk me through when you launched the business and how you make money.
So the main thing, what we try to do is actually to create kind of Tinder of real estate. So we are creating the high quality matchmaking between the tenants and potential real estate managers. Our business model is based on our success rates. So anytime we successfully rent out a property, it stays then in our system, and then we get yearly fee out of that.
When did you launch the business?
We have launched it this year, and we are currently extensively planning our pilots with the first customers.
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Chapter 6: How does WeTipi plan to differentiate itself from existing platforms?
Oh, amazing. So do you have any revenue yet, or are you pre-revenue still?
No, we are pre-revenue, exactly. Currently, we're really kind of onboarding the full team of five people. two software engineers, I have also engineering background, one sales marketing and one chief design officer.
Interesting. Okay. And are you guys all co founders? Exactly. So you each own what 20% of business?
Chapter 7: What are the challenges WeTipi anticipates in its market?
Plus, plus, it's different between seven and 34.
Okay. And are you bootstrapping or do you raise capital? And now we're bootstrapping. Love that. And we are also raising now. So this is kind of, we run it in parallel.
Okay. I take back my love that comment. So how much are you looking to raise?
Chapter 8: What are the future plans for WeTipi's growth and expansion?
Roughly about half a million till 1 million. And are you going to be on a note?
uh it depends on the investors because we are looking for really kind of smart money investor who will come with his potentially his own real estate portfolio plus on top of that network and money so this is depends of how much of these three assets the investor is bringing depending on that we will then see if it is convertible note or this is a real uh investment that goes into pre-seed round
Yep. Okay. So help me understand what you think the economics will be. So if someone brings you a house and they end up renting it for $5,000 per month through your platform, how much will you take?
For the first year, you will pay roughly 80% of one monthly rent. We would take, for example, the average flat or house here in Europe, it costs roughly $1,600 per month.
Yep.
Then we would get for the first year, $1,200. Then for the second year, you will pay roughly about 600. It's 40%. And then for all years afterwards, you will just pay 10% of one monthly net fee. But excess of that, you don't have any license fees for users, for software, whatever. You get all the features always released. You have all access to the whole platform.
And what would the platform get me after you find me a tenant?
It provides you the full calculation of all the tenants you have inside of your platform. So you can track who paid, who not, where you need to renovate your house, how you can switch or flap the users, for example, from one real estate to another if they get, for example, a childbirth. Then they don't go again on the search, but you have another property, which is one room bigger.
You can automatically offer them this as soon as they change their data. So this is more for connecting really the tenant profiles, where you also manage your data to get much more benefits for your living in general.
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