4.6 • 683 Ratings
🗓️ 2 April 2024
⏱️ 31 minutes
🧾️ Download transcript
Rural mom and pop shops love him. 13,000 have purchased his POS and software system processing over $1.85 billion in GMV in 2023 across 35m transactions. Can he crack $2b GMV in 2024?
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0:44.1 | Guys, vizipay.com is the POS system that rural small businesses are using. They are powered by Clover. |
0:45.5 | He just spent a million bucks buying additional Clover hardware to get installed. |
0:49.0 | He's got over 13,000 signed customers, tens of thousand installed POS systems. |
0:53.8 | They did $1.85 billion in transaction |
0:56.8 | volume last year representing 35 million transactions. They did about call it 22, 23 million bucks |
1:03.6 | of total, sorry, 22, yeah, about 22 million bucks of total revenue, hoping to hit, call it 25 |
1:08.4 | million this year. He's got 95 full-time folks on the team |
1:11.3 | and his go-to-market is a very unique combination of 1099 contractors that can keep and build |
1:15.6 | 50% residual revenue streams for selling the Vis-A-Praudic product in their local communities. |
1:19.9 | And also, he's now the big bet they're making is how can they get W-2 full-time employees |
1:23.5 | performing in a unit economic positive way. He uses local bank to fund $1.5 billion of debt |
1:28.7 | to keep growing the business because he has bootstrapped the entire thing. Imagine owning 100% |
1:33.2 | or close to 100% of a 25 million business. Austin has done it. He's staying patient, building it |
1:37.5 | the right way. Hey, folks, my guest today is Austin McNabb. He's a CEO and founder of Vizipay. |
1:43.1 | They're a prominent provider of payment technology solutions for rural small businesses all across the U.S. |
1:49.0 | He's got over 19 years of experience doing this, and he's an expert in the payment processing |
1:53.0 | bank card and retail industries. |
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