The Ledger
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Dezarellis: Securing retailer data access is harder than selling to CPG brands
“The difficult part for our salespeople is to convince the retailers. So go around to Carrefour, Ajo, Deleuze, or, you know, PillPack, if it was, if they were interested to give us data, and convince them to give us access to their systems. Because what we do, …”
Dezarellis: Athens engineers cost half to a quarter of European rates
“And we can get them half the price that someone can get them in the rest of the Europe or a quarter of the price.”
Dezarellis: Senior engineers in Greece make at most €60,000 annually
“Well, that would be, you know, about 60,000 euros maximum per year.”
Dezarellis: Deloitte and EY Both Bid to Buy Convert Group's Consultancy
“Both Deloitte and EY bid to buy our consultancy.”
Dezarellis: Convert Group Sold Services Arm at ~1x Revenue Valuation
“Well, it's about the one times the revenues, you know, since we are in, in in services or something like that.”
Dezarellis: Convert Group doubled ARR from €800k to €1.6M in 2021
“Well last year we were about double of that, 800. And this year, again, we are double of that. So every year we go you know, double times our ARR.”
Dezarellis: Convert Group is raising €3M now and €6M Series A next year
“That's three million euros now and about six million euros in a series A next year. That's your plan.”
Convert Group Secures 15 of Top 20 FMCG Multinationals at €20k ACV
“We have 15 of the 20 biggest multinationals in fast-moving consumer goods and consumer healthcare, and they give us contracts of about, it's enterprise contracts, about 20,000 euros per year on average.”
Convert Group reports 2.5% annual logo churn and -5% net churn
“We have 2.5 churn monthly or annually. This is annually. And talking about logo churn, because if we, if I tell you about our you know, our net churn and money, we are minus five percent.”
Convert Group grew with zero sales or marketing staff until 2021
“We didn't have any marketing department and we didn't have any salespeople. It was happening organic up to today.”
Dezarellis: Convert Group co-founders own 60% equity combined
“Well, me and my partner, Elena, it's two of us, we have 60%. So 30% me and 30% Elena.”
Dezarellis: Unifund owns 17% of Convert Group following €1.2M investment
“And we have one fund called Unifund that invested in us at 1.2 million. They have 17%.”
Dezarellis: Convert Group Consultancy Reached About €2M in Annual Revenue
“We reached about two million euros in annual revenues.”