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Sep 29, 2021 · 18m · top-founders

Britech SaaS For Financial Firms Hits $10m ARR, up 70%, on just $3m Raised

Yuri Ferber · 8m spoken Nathan Latka · 6m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this episode of Conversations with Nathan Latka, Britech Global founder and CEO Yuri Ferber explains how his financial software company scaled past $10 million in ARR with 70% year-over-year growth and 15% EBITDA profitability on just $3 million in seed capital. Ferber details Britech's capital-efficient M&A roots, hybrid pricing models, low churn metrics, and active $50 million fundraising round to accelerate product acquisitions.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 40.1% of the talking time here. How this is scored →

Nathan as informed peer 5.3 Guest teaching 2.0 Guest disagreement 1.3 Nathan pushing back 2.5
05100:0010:000:45–4:59 · Nathan as informed peer 5/10 Introducing Guest Yuri Ferber and Britech Global Latka quickly converts customer count and ACV into ARR figures and explores pricing mechanics. Yuri explains their hybrid model charging basis points on AUM for new entrants.4:59–8:07 · Nathan as informed peer 6/10 Founding History, Early Acquisitions, and Seed Capital Latka runs the math on pre-money and post-money valuations from Yuri's seed round and target $50M raise. Yuri details his M&A-driven growth history and future acquisition strategy.8:09–11:30 · Nathan as informed peer 6/10 Team Composition and Sales Compensation Structure Latka breaks down the sales quota and on-target earnings down to exact dollar figures. He pushes on how US reps could survive on a $24k base, prompting Yuri to clarify that those figures reflect LATAM compensation.11:31–13:59 · Nathan as informed peer 5/10 Profitability, Retention Metrics, and Churn Performance Latka examines Britech's profitability and presses for a gross vs net churn breakdown. Yuri provides the exact math of 132% gross expansion minus 4% churn yielding 128% NDR.14:00–16:31 · Nathan as informed peer 7/10 Cap Table Breakdown and Brazil Venture Debt Terms Latka digs into the cap table split and expresses shock over an 18% interest rate on local venture debt. Yuri firmly educates Latka that cheaper debt is unavailable in the Brazilian macro environment.16:31–18:13 · Nathan as informed peer 3/10 The Famous Five Rapid-Fire Questions Standard Famous Five rapid-fire segment. Both host and guest maintain a cooperative and brisk pace concluding with Latka's company recap.0:45–4:59 · Guest teaching 2/10 Introducing Guest Yuri Ferber and Britech Global Latka quickly converts customer count and ACV into ARR figures and explores pricing mechanics. Yuri explains their hybrid model charging basis points on AUM for new entrants.4:59–8:07 · Guest teaching 1/10 Founding History, Early Acquisitions, and Seed Capital Latka runs the math on pre-money and post-money valuations from Yuri's seed round and target $50M raise. Yuri details his M&A-driven growth history and future acquisition strategy.8:09–11:30 · Guest teaching 3/10 Team Composition and Sales Compensation Structure Latka breaks down the sales quota and on-target earnings down to exact dollar figures. He pushes on how US reps could survive on a $24k base, prompting Yuri to clarify that those figures reflect LATAM compensation.11:31–13:59 · Guest teaching 2/10 Profitability, Retention Metrics, and Churn Performance Latka examines Britech's profitability and presses for a gross vs net churn breakdown. Yuri provides the exact math of 132% gross expansion minus 4% churn yielding 128% NDR.14:00–16:31 · Guest teaching 4/10 Cap Table Breakdown and Brazil Venture Debt Terms Latka digs into the cap table split and expresses shock over an 18% interest rate on local venture debt. Yuri firmly educates Latka that cheaper debt is unavailable in the Brazilian macro environment.16:31–18:13 · Guest teaching 0/10 The Famous Five Rapid-Fire Questions Standard Famous Five rapid-fire segment. Both host and guest maintain a cooperative and brisk pace concluding with Latka's company recap.0:45–4:59 · Guest disagreement 1/10 Introducing Guest Yuri Ferber and Britech Global Latka quickly converts customer count and ACV into ARR figures and explores pricing mechanics. Yuri explains their hybrid model charging basis points on AUM for new entrants.4:59–8:07 · Guest disagreement 1/10 Founding History, Early Acquisitions, and Seed Capital Latka runs the math on pre-money and post-money valuations from Yuri's seed round and target $50M raise. Yuri details his M&A-driven growth history and future acquisition strategy.8:09–11:30 · Guest disagreement 2/10 Team Composition and Sales Compensation Structure Latka breaks down the sales quota and on-target earnings down to exact dollar figures. He pushes on how US reps could survive on a $24k base, prompting Yuri to clarify that those figures reflect LATAM compensation.11:31–13:59 · Guest disagreement 1/10 Profitability, Retention Metrics, and Churn Performance Latka examines Britech's profitability and presses for a gross vs net churn breakdown. Yuri provides the exact math of 132% gross expansion minus 4% churn yielding 128% NDR.14:00–16:31 · Guest disagreement 3/10 Cap Table Breakdown and Brazil Venture Debt Terms Latka digs into the cap table split and expresses shock over an 18% interest rate on local venture debt. Yuri firmly educates Latka that cheaper debt is unavailable in the Brazilian macro environment.16:31–18:13 · Guest disagreement 0/10 The Famous Five Rapid-Fire Questions Standard Famous Five rapid-fire segment. Both host and guest maintain a cooperative and brisk pace concluding with Latka's company recap.0:45–4:59 · Nathan pushing back 1/10 Introducing Guest Yuri Ferber and Britech Global Latka quickly converts customer count and ACV into ARR figures and explores pricing mechanics. Yuri explains their hybrid model charging basis points on AUM for new entrants.4:59–8:07 · Nathan pushing back 2/10 Founding History, Early Acquisitions, and Seed Capital Latka runs the math on pre-money and post-money valuations from Yuri's seed round and target $50M raise. Yuri details his M&A-driven growth history and future acquisition strategy.8:09–11:30 · Nathan pushing back 4/10 Team Composition and Sales Compensation Structure Latka breaks down the sales quota and on-target earnings down to exact dollar figures. He pushes on how US reps could survive on a $24k base, prompting Yuri to clarify that those figures reflect LATAM compensation.11:31–13:59 · Nathan pushing back 2/10 Profitability, Retention Metrics, and Churn Performance Latka examines Britech's profitability and presses for a gross vs net churn breakdown. Yuri provides the exact math of 132% gross expansion minus 4% churn yielding 128% NDR.14:00–16:31 · Nathan pushing back 6/10 Cap Table Breakdown and Brazil Venture Debt Terms Latka digs into the cap table split and expresses shock over an 18% interest rate on local venture debt. Yuri firmly educates Latka that cheaper debt is unavailable in the Brazilian macro environment.16:31–18:13 · Nathan pushing back 0/10 The Famous Five Rapid-Fire Questions Standard Famous Five rapid-fire segment. Both host and guest maintain a cooperative and brisk pace concluding with Latka's company recap.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 61.2% · guest 38.8%0:00 · Nathan 61.2% · guest 38.8%3:00 · Nathan 26.5% · guest 73.5%3:00 · Nathan 26.5% · guest 73.5%6:00 · Nathan 28.2% · guest 71.8%6:00 · Nathan 28.2% · guest 71.8%9:00 · Nathan 41.2% · guest 58.8%9:00 · Nathan 41.2% · guest 58.8%12:00 · Nathan 31.7% · guest 68.3%12:00 · Nathan 31.7% · guest 68.3%15:00 · Nathan 48.4% · guest 51.6%15:00 · Nathan 48.4% · guest 51.6%18:00 · Nathan 86.8% · guest 13.2%18:00 · Nathan 86.8% · guest 13.2%
Sharpest disagreement ▶ 16:12 Yuri defends Brazilian debt realities

When Latka expresses shock at an 18% interest rate and urges him to shop around, Yuri blunt shuts down the premise by stating that cheaper capital does not exist in Brazil.

 Hardest push from Nathan ▶ 11:14 Latka challenges low US sales salary assumption

Latka pushes back on Yuri's global sales compensation figures, asking how any salesperson in the United States could reasonably accept a $24,000 base salary.

 Biggest teaching moment ▶ 16:01 Yuri educates host on Brazilian venture debt terms

Yuri explains the high benchmark cost of capital in Brazil, showing Latka that double-digit interest rates with zero warrants represent standard market terms locally.

 Nathan holds their own ▶ 10:05 Latka reconstructs sales commission and OTE model

Latka seamlessly computes the underlying commission structure, quota-to-base ratio, and expected on-target earnings from Yuri's raw figures.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing Guest Yuri Ferber and Britech Global 5211 Latka quickly converts customer count and ACV into ARR figures and explores pricing mechanics. Yuri explains their hybrid model charging basis points on AUM for new entrants.
Founding History, Early Acquisitions, and Seed Capital 6112 Latka runs the math on pre-money and post-money valuations from Yuri's seed round and target $50M raise. Yuri details his M&A-driven growth history and future acquisition strategy.
Team Composition and Sales Compensation Structure 6324 Latka breaks down the sales quota and on-target earnings down to exact dollar figures. He pushes on how US reps could survive on a $24k base, prompting Yuri to clarify that those figures reflect LATAM compensation.
Profitability, Retention Metrics, and Churn Performance 5212 Latka examines Britech's profitability and presses for a gross vs net churn breakdown. Yuri provides the exact math of 132% gross expansion minus 4% churn yielding 128% NDR.
Cap Table Breakdown and Brazil Venture Debt Terms 7436 Latka digs into the cap table split and expresses shock over an 18% interest rate on local venture debt. Yuri firmly educates Latka that cheaper debt is unavailable in the Brazilian macro environment.
The Famous Five Rapid-Fire Questions 3000 Standard Famous Five rapid-fire segment. Both host and guest maintain a cooperative and brisk pace concluding with Latka's company recap.

Statements from this episode (21)

Assertion Not checkable as stated
Ferber: Britech Serves Over 350 Customers
“Over. Three 50.”
Yuri Ferber Sep 29, 2021 ▶ 2:05
Assertion Not checkable as stated
Ferber: Britech Achieved 70% Year-Over-Year ARR Growth
“70%.”
Yuri Ferber Sep 29, 2021 ▶ 2:21
Assertion Not checkable as stated
Britech Averages 20% Upsells From Existing Customer Base
“Yes, we have like on average, 20% upsells in the base, and the rest comes from new clients.”
Yuri Ferber Sep 29, 2021 ▶ 2:29
Disclosure
Britech Prices by Use Cases and Portfolios Instead of Per Seat
“We are not a drive it by number of users or seats. We are drive it by number of use cases. And number of portfolios, investment portfolios, our clients control with our technology.”
Yuri Ferber Sep 29, 2021 ▶ 2:58
Assertion Not checkable as stated
Britech ACV Ranges From $5K to $300K With a $28K Average
“So I told you we have like 28,000 dollars as our ACV on average, but of course we have guys paying us like what I have the numbers in Brazilian race. So like 5000 per year up to what? Let me see. Like to 300,000 per year.”
Yuri Ferber Sep 29, 2021 ▶ 4:26
Assertion Not checkable as stated
Ferber: Britech Achieved 20-Fold Revenue Growth in Six Years
“It's like a 20 fold revenue growth in six years.”
Yuri Ferber Sep 29, 2021 ▶ 5:39
Disclosure
Ferber: Britech Acquired First Two Businesses for Combined $600K
“Like in dollars, it was like 600,000 dollars. Both.”
Yuri Ferber Sep 29, 2021 ▶ 5:48
Disclosure
Ferber: Britech Sold 34% Equity in Early 2015 VC Round
“I don't know these numbers on my mind. So you make, you can make the calculations, but it was like you, so just to make, make easier, they got like a 34% of our equity with them.”
Yuri Ferber Sep 29, 2021 ▶ 6:27
Disclosure
Ferber: Britech Global is seeking to raise $50 million
“Fifty million dollars.”
Yuri Ferber Sep 29, 2021 ▶ 7:02
Disclosure
Ferber: Britech targets an 8x ARR valuation multiple
“We are targeting eight times. Eight times ARR”
Yuri Ferber Sep 29, 2021 ▶ 7:08
Disclosure
Ferber: Britech's $50M round will have zero secondary sales
“No, no secondary. So it's just it's just for acquisition.”
Yuri Ferber Sep 29, 2021 ▶ 7:37
Prediction Didn’t hold up
Ferber: Britech expects to close its third acquisition in October 2021
“So we are running by the way, we are running our third acquisition at this moment. We expect to have the closing early October”
Yuri Ferber Sep 29, 2021 ▶ 7:53
Disclosure
Ferber: Britech Global Reinvests 40% of Revenue into Growth
“So we have like a, 40% of the revenues being invested in growth.”
Yuri Ferber Sep 29, 2021 ▶ 8:42
Assertion Not checkable as stated
Ferber: Britech Global's Sales Payback Period Is Under Eight Months
“So payback is less than eight months.”
Yuri Ferber Sep 29, 2021 ▶ 10:16
Assertion Not checkable as stated
Ferber: Britech Global has been profitable since 2018
“We are profitable since 2018.”
Yuri Ferber Sep 29, 2021 ▶ 11:37
Assertion Not checkable as stated
Ferber: Britech Global operates at a 15% EBITDA margin
“Like 15% EBITDA.”
Yuri Ferber Sep 29, 2021 ▶ 11:42
Disclosure
Ferber: Britech plans to double annually through 70% organic growth plus M&A
“Keep, keep growing organically, 70% per year and add like 30, 35% for inorganic growth. So the idea is to double the business every year from now on.”
Yuri Ferber Sep 29, 2021 ▶ 12:17
Assertion Not checkable as stated
Ferber: Britech maintains 4% gross churn and 128% net dollar retention
“Gross churn is like four, four percent per year, but we retain one 28. So it's like a one 32 minus four. Take us to one 28.”
Yuri Ferber Sep 29, 2021 ▶ 13:25
Disclosure
Ferber Owns 80% of Britech's 66% Holding Company Stake
“So, so it's like, 80% of the 66 is mine. The rest is distributed in the executives, with the executives.”
Yuri Ferber Sep 29, 2021 ▶ 14:37
Disclosure
Ferber: Britech's $50M raise will be 20% debt and 80% equity
“It's like 20% debt, 80% equity.”
Yuri Ferber Sep 29, 2021 ▶ 15:28
Disclosure
Ferber: Britech Global's Brazil venture debt carries an 18% annual interest rate
“It's like it's like 18% a year.”
Yuri Ferber Sep 29, 2021 ▶ 16:07
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