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Best of Bootstrapping: Bootstrapped a RegTech Venture to $20M
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. RegTech is emerging to become a category of its own with numerous risk and compliance issues getting addressed by technology solutions. PerformLine Founder and CEO Alex Baydin has bootstrapped a wonderful business and is now doing a private equity-driven roll-up within the space. Sramana Mitra: Let’s
Bootstrapping a RegTech Venture to $20M: PerformLine CEO Alex Baydin (Part 6)
Sramana Mitra: At this point, it’s more of executing the business that you’ve described so far? Alex Baydin: Yes, that was the last pivot that got us sustainable traction. We’re still very focused on consumer finance because it’s such a big category. As I mentioned, the platform and the technology provide this level of sales,
Bootstrapping a RegTech Venture to $20M: PerformLine CEO Alex Baydin (Part 5)
Alex Baydin: They had the same compliance constraints that they had in terms of not being deceptive or misleading. There was a lot more probability that something would go wrong in a free-form phone call. We decided to build a speech analytics module and that’s where we started thinking about our product vision. However, our
Bootstrapping a RegTech Venture to $20M: PerformLine CEO Alex Baydin (Part 4)
Sramana Mitra: Expand on that limited exclusivity. When you do deals like this, you’re almost developing the software for their use. How do you get out of the limited exclusivity and go from a services business to a product business where you can sell that to other people? Alex Baydin: I got lucky. This customer
Bootstrapping a RegTech Venture to $20M: PerformLine CEO Alex Baydin (Part 3)
Sramana Mitra: During the period that you’re describing, vertical ad networks were starting to be fairly big. I remember we were covering companies like Adify and vertical search engines like Kayak. In this period that you were describing, a vertical ad network was starting to develop. Alex Baydin: A couple of signals started happening. Because
Bootstrapping a RegTech Venture to $20M: PerformLine CEO Alex Baydin (Part 2)
Sramana Mitra: Once you decided that you wanted to own your own business, what were you going to do? Alex Baydin: I was working at one of the internet companies that I mentioned. I actually got fired for the first time in my life. I’ve been working since I was 15. I took it really
Bootstrapping a RegTech Venture to $20M: PerformLine CEO Alex Baydin (Part 1)
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
