June 2023 Update

What's happening at Krepling

Author

Liam Gerada
July 17, 2023

Introduction

During the month of June we have focused our efforts on strengthening our sales capabilities after laying the foundations in previous months. We are excited to share that we have successfully added two new members to our wider sales team, who will soon transition from part-time to full-time positions.

The expansion of our internal sales team is a significant milestone for Krepling’s wider enterprise sales efforts. We now have a dedicated team of four talented individuals working towards driving our sales efforts forward. In addition to our internal team, we have also enlisted the support of an external Chief Revenue Officer (CRO) and Chief Marketing Officer (CMO) to aid in the day-to-day management of our sales pipeline, prospecting, lead qualification, deal closure, and customer relationship management.

By bolstering our sales team, we are positioning ourselves for enhanced growth and improved customer engagement. The addition of these new team members will enable us to broaden our reach with wider enterprise merchants, and pursue larger merchant opportunities.

Revenue 🚀

Krepling is now at $115.4k in MRR, pacing 10-20% MoM revenue growth.

Other KPIs 📊

Average monthly gross churn (%) is at 1.21%, Average MRR net retention is at 118%

Burn 🔥

Krepling burnt $51,542 during the month of June.

Runway 🛫

We estimate we have 24-36 months of runway given the current cash on hand. We are currently fundraising.

Team Size 👥

Krepling currently has 10 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 V0.1.0 of the product (titled 'Core Release') is at 87%

We began ramping up product development again in June.

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