Justin Fisher, founder of RiskScout, discusses why commercial banks avoid independent ATM operators despite their prevalence across the country.
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Fisher: Dispensary ATMs Can Be 15x More Profitable Than Regular ATMs
“And the funny side point to that is you put an ATM in a cannabis, cannabis dispensary because they're so cash based. Hopefully you don't rig people over the coals with fees, but they can be very lucrative about 15 times the profitability as a regular ATM.”
Disclosure
Fisher: RiskScout Targets an $8M to $10M Series A Round
“You know, like I think we're going to be looking around eight to 10. It's a pretty typical series A round. You know, honestly, man, the valuation is going to be interesting, right? Some of this is what market to bear, but you know, if I'm a founder saying what…”
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Fisher: RiskScout Churn Is Non-Existent and Net Retention Over 100%
“Oh, absolutely. Yeah. The churn is like absolutely non-existent, right? Because the only churn that we kind of exposed to is if a bank calls back their program, but they don't really churn the enterprise agreements with us because it's very sticky, right?”
Disclosure
Fisher: RiskScout Serves Under 12 Banks and Over 1,000 Businesses
“So we have under a dozen banks. We have over a thousand businesses on the system. We have, like I said, probably an average of usage right now is averaging in the 15 to 20 K a month MRR.”
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Fisher: RiskScout is on track to reach over $1M ARR by end of 2021
“Now we're, you know, approaching half, you know, half a million of AR. We're actually, the end of the year, we're approaching over a million of AR on track for.”
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Fisher: RiskScout Partnerships Open Resale Access to 3,500 Banks
“I can't mention the two partnerships we just landed, but they open up about 3500 banks, trusted partnerships for resale.”