Sramana Mitra: Your company seemed to have somehow found its stride, but you left. When you left that company, what did you do next? Allan Wille: It’s a long story. I’ll put out some of the highlights. We started Klipfolio in the fall of 2001. At that time, since all I knew was the funding scenario, the
Sramana Mitra: Very typical overfunding, lack of discipline story. Allan Wille: It really is. I don’t think we’ve seen that kind of feverish pitch to the same degree. We saw IoT and Big Data, and now we’re seeing the same thing with AI. I think there’s a lot of money being thrown at some of these companies, perhaps, prematurely.
Often, it takes a long, long time for a company to hit its stride. Read Allan Wille’s journey of great perseverance. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background? Allan Wille: I was born here in Canada.
Sramana Mitra: In the 1M/1M program, bootstrapping is a huge part of our philosophy. We know this from statistics that over 99% of the business that try to raise venture capital actually get rejected because they don’t fit into the venture capital model necessarily. We are huge supporters of the bootstrapping model. What you’re saying
Sramana Mitra: You inherited 40 customers from AstroPay. Were you doing prepaid private label cards for these 40 merchants and then you switched that to something else? What was the case for the spin off? Sebastian Kanovich: First of all, we didn’t want to have a company which was both B2B and B2C. We wanted
Sramana Mitra: What was the structure? Did AstroPay put in money into dLocal? How did you financially engineer this? Sebastian Kanovich: We share most of the shareholders. dLocal shares existing customers from AstroPay. We lost money for one month but after that, we managed to break even. We’ve been profitable since then. We didn’t have
dLocal was spun off from its parent company with 40 customers. It never took any outside funding and has grown to 350 customers within a year. Read on for more. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of
Sramana Mitra: Talk to me similarly about how you position against ServiceNow and Apttus in contract management. Colin Earl: It’s essentially the same positioning. The Agiloft platform allows us to do two things. It allows us to configure the product to meet the needs of an individual customer in a period of weeks and it