The Founder Files Transforming Enterprise Payment Systems - Nolan Daniel & Shadab Rahil, Payment24
Payment24 is a fintech SAAS business that services the oil & gas industry. Their growth has been impressive and they currently operate in 20 countries, across 4 continents. I got the pleasure of talking with the co-founders Nolan Daniel and Shadab Rahil. Shadab and Nolan started out with a “if they buy it, we’ll build it” mindset but after some time they integrated all the separate products they built into one modularised product. They take us through the transition from being development driven to product driven. We hear the story of how Standard Bank acquired 40 percent of the company and what that unlocked for them. As well as how they maintained focus and discipline as technical founders to grow organically and avoid the temptation of shiny new opportunities. They talk about their investment into a Swiss fintech company to open channels in Europe. They also give us some insights into how they expanded internationally so successfully and how they got new customers to come to them. Without a doubt, an episode you won’t want to miss.
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This episode is brought to you by Metavolve.
Metavolve turns highly capable African founders into confident business leaders by helping them develop clear and comprehensive business strategies that make building a great sustainable business less complex. Reach out to our team to learn more: https://metavolve.co/
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00:00 Introduction 02:12 Welcomes 02:38 What Is Payment24? 14:08 Payment24’s Founding Story 20:55 More About The Oil & Gas Industry 26:23 Developing The Product & Initial Growth 34:22 Transitioning From Development Driven To Product Driven 42:09 Brought To You By Metavolve 43:32 Getting Investment From Standard Bank 59:27 Organic Growth As The Main Growth Strategy 1:05:28 Getting The First Customer In New Countries 1:09:38 Making Yourself Findable To Prospects 1:16:39 Investing In A Swiss Company 1:19:13 Learnings From Investing Into The European Market 1:23:02 What’s Next For Payment24? 1:25:55 How Nolan & Shadab Have Worked Together For 21 Years 1:30:01 Outro