Modern Treasury built its MVP in ten weeks and launched in five
Dimitri Dadiomov · Launching a New Category with Modern Treasury's Dimitri Dadiomov · Dec 12, 2023 · at 8:34
Dimitri Dadiomov, co-founder and CEO of Modern Treasury, explains the product development timeline and initial onboarding period after graduating from Y Combinator.
0:00 / 0:09exact quote · 9.2s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“It probably took us about 10 weeks to build the MVP in a functional way. And then, you know, it took us about five months total to go live with the first customer.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Dimitri Dadiomov
Dadiomov: Companies rarely die of competition, they die of suicide
“Very, it's very rare at least that companies die of homicide. They usually die of suicide. Companies usually mess up in some way that is actually just, It's very internal. So when you read a lot of business books, I think people talk about like competition, bu…”
Dadiomov: Companies underinvest in payment systems because they aren't core competencies
“And it's one of these things that's really not core competency for most of the companies I was talking to, and so they couldn't justify the right, like, level of investment, and at the same time, it was, like, the same thing that they all needed.”
Mid-sized companies have too much internal inertia to buy from early startups
“Like very quickly we realized these companies would not, they would have too much inertia internally to actually sign up with a small startup.”
Dadiomov: Payment operations was not recognized as a software category pre-Modern Treasury
“Payment operations was not, Really a topic that people talked about. Obviously it was present in a lot of places, but nobody thought about that in a, or talked about publicly, at least in in like a software category kind of way.”
Modern Treasury builds all features for both API and manual UI
“So one of the design principles that we've had is everything we build is available in both the API and the UI, and you can do things by hand or you can automate them, but there's nothing is going to be a hundred percent automated. The world is going to be like…”
Modern Treasury waited two years before hiring its first salesperson
“We did not have a sales team for a long time. We kind of invested more heavily in marketing upfront and we brought, and we've got a lot of inbound leads coming from content, coming from bank referrals, coming from other activities that we're doing. And so it r…”