Disclosure certainty 4/5 debate potential 1/5

Maryasin: Monite employs 50 people with 80% in product and tech

Ivan Maryasin · Why He Spent $5m on Fintech API MVP, 20 Customers Today and $20k in MRR · Aug 30, 2023 · at 11:26

Ivan Maryasin, CEO and co-founder of embedded fintech API platform Monite, discusses the company's organizational breakdown and technical headcount with Nathan Latka.

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“So we have 50 people full-time, and 80% of the team is actually product and tech.”

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More from Ivan Maryasin

Insight
Maryasin: Fintech infrastructure has no viable low-cost MVP
“For us, what we see is that there is no real MVP in this market. Like if people come to us and say, Hey, I want to be a build.com for my clients. I can't give them like a scrappy little solution that doesn't really work. I have to give them something a lot mor…”
Ivan Maryasin Aug 30, 2023 ▶ 16:42 Why He Spent $5m on Fintech API MVP, 20 Customers Today and $20k in MRR
Disclosure
Maryasin: Monite charges per active SME per module, plus take rates
“We don't price based on API calls. We price for active SME customer per module per month. So it's basically a scalable SaaS model. And then if people buy payments and some financial services for months, we also have a take rate in that.”
Ivan Maryasin Aug 30, 2023 ▶ 4:46 Why He Spent $5m on Fintech API MVP, 20 Customers Today and $20k in MRR
Disclosure
Monite relocates engineering talent to Georgia to avoid Western tax burdens
“We usually relocate people to Georgia also from, you know, like, ex-Ukrainians, ex-Russians, ex-Belorussians, like, from all across, very strong tech talent and no crazy European or US Texas, that would basically mean that we can only run half of that size of …”
Ivan Maryasin Aug 30, 2023 ▶ 12:29 Why He Spent $5m on Fintech API MVP, 20 Customers Today and $20k in MRR
Disclosure
Maryasin: Monite has spent over $5M developing its product
“I think a bit over five for sure.”
Ivan Maryasin Aug 30, 2023 ▶ 17:54 Why He Spent $5m on Fintech API MVP, 20 Customers Today and $20k in MRR
Disclosure
Maryasin: Capital on Tap is Monite's Largest Signed Customer
“And for example, the biggest customer we signed so far is actually Capital and Tap. I'm a credit card provider for SME in the UK, and they already have all this, like, 300 SME customers.”
Ivan Maryasin Aug 30, 2023 ▶ 2:21 Why He Spent $5m on Fintech API MVP, 20 Customers Today and $20k in MRR
Disclosure
Maryasin: Monite typically signs deals above $30,000 per year
“I would say we typically sign deals now ever, ever, everywhere above 30,000 per year, and we'll be growing this very, very quickly as we grow in customer accounts.”
Ivan Maryasin Aug 30, 2023 ▶ 4:12 Why He Spent $5m on Fintech API MVP, 20 Customers Today and $20k in MRR
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