- Krepling Investor Updates
- Posts
- November 2024 Update
Introduction
In November, we made the final shifts of our focus back to our core sales motions following the peak of BFCM. November was a transitional period where we balanced scaling up to meet seasonal demand while ensuring long-term merchant acquisition efforts remained a priority.
With BFCM now behind us, our focus has returned to new merchant acquisition. The seasonal surge in transactions provided valuable insights into customer behavior, platform stability, and merchant needs at scale. We allocated additional resources to handle the higher-than-normal traffic volumes in preparation for what we anticipate to be similar patterns leading into Christmas, followed by an expected drop-off in early Q1. To further optimize our sales motion, we have made a strategic decision to begin replacing certain third-party sales teams with direct hires. We are actively searching for sales talent with a strong in-person presence, particularly in the greater New York and Boston areas. This shift aligns with our long-term goal of fostering deeper relationships with enterprise merchants and strengthening our direct sales capabilities in key markets.
Given the operational demands of the holiday season, we have decided to pause our preliminary Series A discussions. Merchant onboarding and retention efforts require significant bandwidth at this time of year, and our focus remains on delivering a seamless experience for merchants during this critical period. We plan to re-engage with investors and resume those conversations in early 2025, ensuring we allocate the necessary resources and attention to securing the right strategic partners.
Revenue 🚀
Krepling is now at $420.1k in MRR, pacing 5-7% MoM revenue growth.
Other KPIs 📊
Average monthly gross churn (%) is at 3.5%, Average MRR net retention is at 107%, Average gross margins are at 90%, ARPU is at $4.7k
Burn 🔥
Krepling burnt $96,516 during the month of November.
Runway 🛫
We estimate we have 12-18 months of runway given the current cash on hand.
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 V2.0.0 of the product (titled 'V2 Release') is at 12%.
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