1352 B2B Version of Venmo About to Pass $5m in ARR

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 7 April 2019

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jeremy has spent the last 15 years in the tech-industry as a serial entrepreneur, startup adviser, and occasional investor. Jeremy has helped dozens of B2B companies drive adoption of digital commerce, and is still an active board member at a number of fintech companies. He started his career in technology as an engineer at nanotech startup Digital Instruments, which was acquired by Veeco (NASDAQ: VECO). Jeremy holds a BS in Computer Engineering from the University of California and a Masters in Business from the University of Massachusetts.

Transcript

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0:00.0	My new book, How to Be a Capitalist, without any capital is out. You can get it at Capitalistbook.com.
0:05.9	Here's what Nicholas said on March 6th on Amazon. Incredibly incisive, useful, and sensible.
0:12.1	The author is not greedy and is in fact extremely generous and does not hold back on the knowledge
0:16.6	he imparts. I've barely made it halfway to the book, and I'm already gushing over the book because
0:21.0	it's an absolute gem. Nathan gets to the point quick, shows proof and best of all,
0:25.7	shows you not just what to do, but how to do it in explicit detail. To say the book is actionable,
0:30.6	is an understatement. Now, you guys, I listen to the podcast, know I'm detail-oriented,
0:34.7	so that review might not surprise you, but I hope you grab the book.
0:41.0	It's now a Wall Street Journal, instant national bestseller.
0:43.3	Grab it at capitalistbook.com.
0:44.6	Audible version is available, too.
0:52.4	Life is a blessing. Enjoy the journey. Again, back in 2014, launched paystand, a B2B version of a thing,
0:54.3	like a B2B version of like a Venmo or something like that.
0:57.1	Paystand is growing fast, $12 million raised.
1:03.1	They grew about 4x year over year from 2016 to 2017, aiming to grow about 3x or 4x this year from 2017 to 2018.
1:05.4	Their customers, Pam, called on average $1,500 per month.
1:08.9	The innovation is they're not charging on a percentage of revenue through the platform
1:12.5	model or percentage of receivables through the model.
1:15.3	It really is a flat fee.
1:16.6	So hoping to hit that $5 million ARR mark here in the next quarter, two quarters or three
1:20.7	quarters or so.
1:21.7	Healthy economics, net negative revenue churn annually with their team of 30 based between
	...

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