Orgzit burns zero capital and funds all salaries from company revenue
Nitin Verma · They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!? · Jun 7, 2020 · at 14:29
Nitin Verma is the founder of Orgzit, explaining the company's financial burn rate and bootstrapped status to Nathan Latka.
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“We don't burn anything right now. So all our salaries, so that's the benefit of being in India. So all the salaries that we're paying right now are taken care of by the revenue that we are making.”
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More from Nitin Verma
Low-code software requires users to articulately define their business processes
“Because if you can't define business processes articulately, there's no way you can go and build an application on a low code software.”
Orgzit co-founders work part-time external jobs to bootstrap the company
“My brother sort of works as a part-time CTO and I work as a part-time consultant with World Bank.”
Orgzit is actively raising $500,000 to $1,000,000 in seed capital
“We're actually doing a fundraise right now to raise about a half a million to maybe a million dollars to take us to the next level.”
Orgzit expanded an Amazon India division account from $100 to $1,200 monthly
“And it started off as a small POC for about 10 users, and now it's expanded to about 120 users. And we are doing so we started with less than, I think, 500 dollars sorry, we started with less than a hundred dollars a month, approximately. It was just a small P…”