- Krepling Investor Updates
- Posts
- March 2024 Update
Introduction
In March, our primary focus has been on building an initial pipeline for Krepling Pay and accelerating the progress of deals that were in the pipeline from February and January. Our sales team has been working diligently to identify and engage with potential merchants from a payments level, ensuring that we have a steady flow of opportunities ahead of launch.
We have seen a promising uptick in new deals, which is a testament to the market's positive reception of Krepling going towards the summer. Our sales strategy has been refined to not only focus on outbound efforts but also to drive traffic to our website and the new sales channels we’re opening. This dual approach is designed to bolster organic signups, which we believe will be a key driver of growth in the coming months ahead of our free trial launch.
Oue sales team has also begun to shift some of the outbound messaging to focus more on the unique value propositions of Krepling Pay as opposed to just our core platform. This includes highlighting our seamless integration capabilities, and competitive pricing.
To further support our growth objectives, we have continued to expand our marketing efforts. In March, we onboarded two new contractors with expertise in design. Their primary focus will be to enhance our visual branding and prepare us for comprehensive Google Ads campaigns scheduled for Q4. These additions to the team are crucial as we aim to increase our visibility and attract more organic traffic. We are currently in the process of collecting and analyzing data to inform our Google Ads strategy. By Q4, we expect to have a well-rounded marketing strategy that combines both organic and paid channels.
Additionally, we have observed a notable uptick in agency adoption. We are focusing on strengthening our relationships with key agencies and providing them with the tools and support they need to succeed with Krepling Pay as well as the primary platform.
Our goal is to establish a 70/30 split between outbound and agency-led deal closes by the end of the year. This balanced approach will ensure a steady stream of new business while leveraging the reach and influence of our agency partners.
Revenue 🚀
Krepling is now at $272.5k in MRR, pacing 10-15% 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 $4.5k
Burn 🔥
Krepling burnt $41,160 during the month of March.
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 V0.1.0 of the product (titled 'Core Release') is at 91%.
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