- Krepling Investor Updates
- Posts
- July 2024 Update
Introduction
In July, we began wrapping up the development of Krepling Pay, and began moving it into a production environment. Our infrastructure team began working closely with a third party development company and our payment processors over at TSYS to begin building the procucutin environment to go live on. We have been actively building and refining the infrastructure behind Krepling Pay to ensure it is as powerful and resilient as possible. We have deployed a global network of servers, allowing payments to be processed swiftly from anywhere in the world. We’ve designed this system to automatically scale when needed, handling massive transaction volumes without delay, even during events like BFCM, which has historically been our busiest period. We’ve also embedded industry-leading security measures, including advanced encryption and real-time fraud detection, to protect every transaction at a level deeper than that being done by our payment processor. At the same time, we’ve ensured full compliance with international regulations, safeguarding our global operations. Building a payment gateway that balances speed, security, and scalability has been a complex challenge that we've worked on for over a year. However, we are confident that we are close to achieving an infrastructure that will support our long-term vision for the payments aspect of our business, and we are excited to soon begin discussing a potential launch date for Krepling Pay.
On the operational front, we’ve continued to see an increase in new logos as we prepare for an anticipated slowdown in August. Additionally, we have kicked off a new product sprint for our V2 release. This version will include a free trial, a proprietary web builder, and an expanded range of new integrations and a lot more that I have not mentioned in other shareholder updates. While I've previously highlighted the transformative impact of offering a free trial on our sales efforts and global brand recognition, we are now also focusing on adding new functionality that will deepen our competitive advantage and MOAT. Development sprints for V2 are slated to ramp up in September, and we are currently finalizing product specifications and transitioning the team from Krepling Pay to our core product efforts.
Revenue 🚀
Krepling is now at $320.3k in MRR, pacing 5-15% MoM revenue growth.
Other KPIs 📊
Average monthly gross churn (%) is at 2.5%, Average MRR net retention is at 104%, Average gross margins are at 95%, ARPU is at $4.2k
Burn 🔥
Krepling burnt $65,255 during the month of June.
Runway 🛫
We estimate we have 24-36 months of runway given the current cash on hand.
Team Size 👥
Krepling currently has 12 team members (including both co-founders).
Click here to explore openings at Krepling
We are hiring in almost every sector! Feel free to reach out with resumes you feel we should be taking a look at.
Product Update ⚙️
The current development status of V2.0.0 of the product (titled 'V2 Release') is at 5%.
Asks and Discussions 🗣
There are no asks or discussions this month.
Reach out 👋
My email: [email protected]
If you would like to quickly catch up let's schedule 15 mins here:
Best, Liam