Assertion Not checkable as stated
Zholudev says Sumsub's top customers pay up to $7 million annually
“Even more, maybe, maybe five, seven,”
Assertion Not publicly verifiable
Zholudev states that Sumsub is entirely cash flow positive
“And where cash flow positive.”
Assertion Not publicly verifiable
Sumsub reached $25M in revenue with 4.4x growth and $45M-$50M run rate
“Last year we made 25 USD USD twenty five million US dollars with a 4.4 year over year growth. And now run rate, I think, 45 or fifty million.”
Assertion Not checkable as stated
Sumsub generates a 10% to 20% EBITDA margin
“Bit is about 10 to 20%.”
Disclosure
Sumsub targets raising $80M to $100M for Series B round
“So we're thinking about eight to one hundred million, but at the same time for us right now is more important as strategic partnership because we want to expand a new market to land new offices in different regions.”
Assertion Not checkable as stated
Zholudev: Most Sumsub Revenue Comes From Competitors' Former Clients
“Most of the, like revenue actually comes comes from the new clients, right? And those clients that actually coming from our competitors”
Assertion Not checkable as stated
Zholudev: Sumsub has ~40 customers paying over $100k/year
“We have about like 40 customers that we consider Top tier one customers that pay more than 100,000 a year. But some of them paying over one million.”
Assertion Not checkable as stated
Zholudev: Sumsub has over 1,000 total customers
“Over 1000 customers, but 40 tier one customers paying more than 100,000 a year.”
Assertion Not checkable as stated
Zholudev: Sumsub's average customer pays $10k to $20k per year
“Something like 10 to 20, I would say.”
Disclosure
Zholudev: Sumsub co-founders split equity equally
“Initially no, but then like they probably saw my impact and then somehow they offered me just I don't have to negotiate. So it was just split equally now.”
Assertion Supported
Sumsub raised $6M in 2020 with half allocated to secondaries
“We raised since then, I think for only just a little of capital, like six million in 2000. 20, right? And half of it actually went to secondary.”
Assertion Not publicly verifiable
Zholudev: Sumsub generated about $1 million in revenue in 2019
“I remember in 2019, it was about one million, but in 2018, I don't remember.”
Disclosure
Zholudev: Sumsub Founders Did Not Sell Secondary Equity in 2020
“No, no. So there were shares like going into one investors and then another investor came on board and he bought they bought those shares.”
Disclosure
Zholudev: Heavy ICO Dependency Depressed Sumsub's 2020 Valuation Multiple
“I don't know, because we had, I think, lots of dependency on ICO back in the day, and it was kind of a little bit of unstable, I think. So we didn't get a very good multiplicator, to be honest.”
Assertion Not checkable as stated
Sumsub Processes 500K to 1M Verifications Monthly, Says CTO
“It's from half a million to one million.”
Disclosure
Zholudev: Sumsub raised roughly $500,000 in early capital
“So we also raised like some capital, like half a million or something.”
Disclosure
Zholudev: Three of Sumsub's four co-founders are brothers
“Overall four. Actually, the other three are brothers, two of them twins, which makes a really fun case for our face matching algorithms.”
Assertion Not publicly verifiable
Sumsub Has Over 300 Total Employees, Says CTO
“About 300, a little bit more.”
