Tandem

“So I think maybe like the summer-ish of 23, we raised, I think it was six from insiders.”

“We raised an eight million dollar seed at the beginning of 22. So pretty quickly after the pre-seed I want to say it closed in like Q two of 22.”

“Our monthly, yeah, our monthly burn was around half a million”

“We were seeing between five and 10% of a brand's checkout moving to our product, which to set context, like PayPal captures maybe 15 to 20% of a brand's checkout.”

“The business gets to a million in ARR probably like, honestly, Q one ish of 24, Q two ish of 24.”

“I think we closed on that maybe At the end of 21, if I recall correctly. And I want to say it was two million pre-seed.”

“We were finding the sales cycles were roughly equivalent. So the three to six months was still true for those bigger brands. So obviously, You'd much rather spend that time and win a brand that's 10 X the size of, you know, the ten million dollar brands.”

“Like, we got all the way through confirmatory due diligence. Like, it was moving to the finish line. Funding docs went out. I signed the funding docs. And I think they got cold feet.”

“Where we found success with early brands It was founder led brands. Oftentimes, like the name of the brand was the name of the founder. And for the founder, it was like an emotional, oh, this is really cool. Like I get my own payment method with my name on it.…”

“Our monthly fee to our sponsor bank was six figures.”