Min Alexander: This business builds one by one. That’s a competitive moat for us. Folks that think they’re going to blast and market, that doesn’t necessarily happen in an industry like ours. It’s taken so long to disrupt it at scale. You need all the components. You need the technology and infrastructure to keep it
RegTech is emerging to become a category of its own with numerous risk and compliance issues getting addressed by technology solutions. Alex has bootstrapped a wonderful business and is now doing a private equity-driven roll-up within the space. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were
Sramana Mitra: How much have you raised in total so far? Min Alexander: Our Series A round was $39 million. We had targeted $35 million. It got others really excited. We ended up declining other funding. We could have been well over $45 million. Sramana Mitra: The story was pitched to me as a $5
Sramana Mitra: Tell me a bit about your company. Is it venture-funded? John Wu: We’re a customer-funded company. We view our customers as our partners in this. We have done several successful equity crowdfunding rounds in the last few years. We raised over $11 million in past rounds. A lot of it came from our
Sramana Mitra: How did you finance this company? Min Alexander: Earlier on, there was a lot of seed funding. Early seed investors like Meeting Street Capital, Idea Fund, and Venture South are still very active with growing portfolios. Sramana Mitra: Are these North Carolina investors?
Sramana Mitra: Is that a commission model or a markup model? Min Alexander: There’s a gross margin. We want to be competitive on price, but we’re also saving time and convenience. Then we’re able to deliver our services for ordering and tracking through a digital interface. Sramana Mitra: What is the gross margin for your
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Shane Evans is Co-founder of Scrapinghub, now known as Zyte, a virtual team-based business from Ireland. When we spoke in 2016, the company had 5M Euro in revenue, 130 employees in 43 countries and operated 100% virtually. Very interesting view into a different part of the
Sramana Mitra: But you would still have to sell the full product – hardware and software – if a carrier wants to work with you. John Wu: It depends on the carrier. Some carriers have their hardware vendors picked out. They want to use their hardware vendors. We can port the software onto this hardware.