- Krepling Investor Updates
- Posts
- October 2024 Update
Introduction
In October, we made a significant shift in focus for our development team as we redirected efforts back towards finalizing the development of Krepling Pay. Originally slated for a November launch, the complexities of this period and our heightened commitment to supporting our merchant base have prompted us to reschedule the launch for the end of Q1 in 2025. This decision allows us to prioritize the immediate needs of our merchants while ensuring Krepling Pay is launched with the polish and impact it deserves.
Looking ahead, we are preparing to make a transformative change to our planning processes for 2025. Starting next year, we will be replacing team-level planning with a unified company roadmap. Under this structure, Travis and I will serve as the final editors of what gets shipped. This new approach will compel us to make deliberate, high-impact decisions that focus on investments with the potential for step-function improvements for our merchants. By focusing our resources on fewer, but more impactful initiatives, we aim to drive substantial and meaningful growth.
At the core of this roadmap is our payments infrastructure. We strongly believe that payments will be a cornerstone of our growth strategy in 2025 and beyond, serving as a major revenue driver while solidifying Krepling’s role as a leading commerce platform.
In addition to product-focused changes, we are also making strides towards internalizing more of the core functions of our business. While our development outpost in Portugal continues to deliver exceptional results, we recognize the value of co-located leadership and collaboration. To this end, we are planning to transition our executive function to an in-person environment by Q2 of 2025. The exact location of this in-person hub is currently under evaluation, and we will provide further updates as decisions are finalized.
Our seasonal focus on transitioning from sales to customer success has proven to be both timely and necessary. As we’ve emphasized supporting merchants during the holiday season, this pivot has underscored the value of having a year-round, dedicated customer success function. This team will be essential not only in supporting revenue growth but also in facilitating full-scale migrations to the Krepling platform. These migrations are critical to our mission of becoming the number one commerce platform in the world.
By fostering deeper relationships with our merchant base and ensuring that their needs are proactively met, we are driving merchant satisfaction and loyalty while unlocking opportunities for expansion and retention. This focus aligns with our broader vision and mission and positions us for long-term success.
Revenue 🚀
Krepling is now at $413.2k in MRR, pacing 5-10% 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 $57,945 during the month of October.
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 10%.
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