Pedro, an intrepid entrepreneur with 10 years of startup experience, shares insights on closing customers through LinkedIn and generating $45k in monthly recurring revenue for a debt collection SaaS. Other topics include algorithmic payment reminders, pricing model, customer acquisition strategies, and participation in a startup program.
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Quick takeaways
The company uses a proactive approach to assist utility companies in collecting debts on time, reaching out to debtors in advance to prevent late payments.
The company initially acquired customers through LinkedIn search, using a concise message about their AI-based system to improve debt collection.
Deep dives
Helping utility companies collect debts on time
The company assists utility companies in collecting their debts on time, using a proactive approach. They reach out to debtors in advance to prevent late payments and provide support for collecting payments that are already late.
Revenue growth and customer acquisition
With 15 customers currently, the company is generating $45,000 per month in revenue. Their customer base consists of utility companies and professional credit collectors. They acquired their initial customers through LinkedIn search, sending a concise message about their AI-based system to improve debt collection.
Fundraising and future plans
The company, bootstrapped until now, aims to raise $500,000 at a $1.5 million pre-money valuation. They have received proposals from Spanish investors, including a corporate investment fund and a FinTech business angel. The funds will be used to expand their AI capabilities and transition to online channels for customer acquisition.
Intrepid entrepreneur, explorer and video-gamer, Pedro has been in the startup world for 10 years having co-founded 4 projects and 2 successful exits mostly in the B2B space. His passion for collective sports and traveling has given him a broad perspective of the world, which he uses to daily guide his business towards, success...hopefully
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