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SaaS Interviews with CEOs, Startups, Founders

1581 How This FinTech CEO Hit $10M ARR With No Expansion Revenue

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 22 November 2019

⏱️ 18 minutes

🧾️ Download transcript

Summary

Andrew Patrick White is the Founder & CEO of FundApps, a RegTech company which provides compliance monitoring services to investment managers.

FundApps currently services 3 of the world’s 10 largest hedge funds and monitors over 6 Trillion USD of assets every day. FundApps was founded in a spare bedroom above a pub and has never taken a penny of funding.

Transcript

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0:00.0

launched his company fund apps after doing kind of an on-prem version of it and realizing people

0:04.1

wanted the milk, not the cow today. They're serving 45 clients managing, again, big portfolios,

0:09.6

you know, hundreds of millions in assets under management across many, many different countries,

0:13.4

breaking and getting really close to about a $10 million run rate. That's up for about

0:17.3

$5 million bucks in AR just a year ago. So healthy growth. And I love this, all bootstrapped with this team of about 46 people in

0:23.7

UK and other remote locations, 100% net revenue retention, not really an upsell machine

0:28.8

or expansion machine at this point, really just focus on adding new customer logos.

0:32.4

He thinks there's about 2,000 customers out there.

0:35.0

Hello, everyone.

0:35.4

My guest today is Andrew White.

0:37.0

He's the founder and CEO of Fund Apps, a reg tech company which provides compliance

0:41.1

monitoring services to investment managers.

0:43.6

Fund Apps currently services three of the world's 10 largest hedge funds and monitors over

0:48.2

$6 trillion USD of assets every day.

0:50.7

Fund apps was founded in a spare bedroom above a pub and has never taken a penny of funding.

0:55.0

Andrew, you're ready to take us to the top. Yeah, indeed. I am doing well. Okay, I love that you're

1:00.4

bootstrapped. For those that have not heard of you, what are you doing? How do you make money?

1:04.7

Very simple idea. So we, rather than people that manage your money doing compliance for themselves,

1:13.9

they send us the data and we will do compliance for them.

1:20.9

So we provide the infrastructure, we provide the technology, but more importantly, we provide the regulatory expertise.

1:26.6

So we have a team of legal compliance people and understand the rules and regulations across the globe,

1:28.4

making it easy for fund managers hedge funds to be compliant with regulations in 95 countries. Okay. And is this, I mean,

...

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