The Ledger
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Nowak: Flexi raised debt financing without granting warrants
“Oh, no, no. Okay. I'm so happy that I found that that without any warrants but normally markets, they are, you know, they want to have a warrants, but I have a, I knew the investors. I found the investor who was able to provide it without a warrants.”
Nowak: Flexi targets a minimum 40% annualized IRR
“The minimum IR will be if we earn 2.9%. So the minimum margin, the yearly rate will be about 40%. And this is our yearly rate, minimum yearly rate that we want to earn.”
Nowak: 70% of Flexi's employers pass transaction fees to employees
“Today, more than 70% of employers pass the fee to employees, and the 30% are paying a subscription.”
Nowak: Flexi is first salary-on-demand player in Poland
“We are the first player on Poland. Poland is a huge market having twenty million employees.”
Nowak: Flexi Will Probably Reach Over 100,000 Users by Year-End
“Right now we have discussions with bigger employers, and in the end of this year probably we'll provide app to more than 100,000 of users.”
Nowak: Flexi Closed a €2.8 Million Seed Round
“We close it around in an amount of 2.8 million euro. Yeah. So it's more or less three million dollars.”
Flexi Seed Round Comprised €2M Debt and €800K Equity
“In this seed round, debt was in the amount of two million euro, And equity was 800,000 euro.”
Nowak: Flexi charges 2.9% per payout or $8 monthly per employee
“So employee will start from the provision on 2.9% for a payout. If the employee pays the fee, there is also a subscription-based model where employer can pay a monthly subscription for each employee, and the subscription fee is more or less eight dollar per mo…”