- Krepling Investor Updates
- Posts
- September 2025 Update
Introduction
In September, we continued to see strong traction in pipeline growth for Krepling Pay, despite entering the pre-BFCM period, traditionally a quieter window for new platform consideration, particularly for payment gateway transitions. Contrary to these expectations, our current Krepling Pay pipeline now stands at approximately $255K in ARR, reflecting steady engagement and continued interest from merchants within the $50M+ GMV range.
This emerging traction has prompted us to formalize two distinct market buckets for Krepling Pay: Enterprise: $30M–$120M GMV and Self-Serve: $5M+ GMV
This segmentation mirrors the same merchant stratification we’ve developed for the core Krepling platform, which is both strategically and operationally encouraging. It validates our long-held belief that Krepling Pay directly addresses the same market segment, and even the same pain points, as our core platform, while offering a more natural entry point for higher-GMV merchants.
What’s particularly compelling is how rapidly this alignment has occurred. While it took the core Krepling platform nearly 2.5 years to clearly define its target market and merchant size range, Krepling Pay has reached that same clarity in just two months post-launch.
Even more promising is the upward shift in GMV range. Whereas the core platform has reached a natural ceiling in merchant size, not due to product limitations, but rather sales incentive dynamics mentioned in my previous newsletters, Krepling Pay is resonating most strongly with large-scale enterprise e-commerce merchants on WooCommerce and Magento, who represent the highest transaction volumes in the open-commerce ecosystem.
While a closed enterprise merchant will remain the defining milestone for confirming product-market fit, these early signs are highly encouraging. Krepling Pay is already validating itself as both a clear revenue-generating model (consistent with our original thesis, much like Shopify’s own payments trajectory) and as a strategic beachhead into the upper enterprise layer of e-commerce, achieved with the same philosophies that define Krepling’s DNA: no migrations, no long sales cycles, and no heavy developer lifts.
On the core platform side, we have now fully transitioned our commercial focus toward expansion, following through on the strategic decision made earlier this summer to accelerate that timeline. This earlier focus has allowed us to not only strengthen relationships with existing agencies but also to subtly position Krepling Pay within our core base, introducing it as a natural extension of the platform.
Core growth remains stable and predictable, and we have begun projecting 2026 revenue forecasts that integrate Krepling Pay’s pipeline performance and momentum. These projections will be shared in future updates as traction continues to evolve and becomes more quantifiable.
We remain conscious that we are still in the very early stages of Krepling Pay’s lifecycle. Our VP of Sales continues to ramp, and we are not forecasting a major pipeline surge heading into BFCM. Nonetheless, all early indicators, market alignment, pipeline growth, GMV trends, and feedback from high-yield merchants—remain highly encouraging and reinforce our conviction in Krepling Pay’s long-term potential to drive both ARR growth and strategic expansion into the enterprise segment.
Revenue 🚀
Krepling is now at $655.4k in MRR, pacing 4-7% MoM revenue growth.
Other KPIs 📊
Average monthly gross churn (%) is at 2.5%, Average MRR net retention is at 107%, Average gross margins are at 82%, ARPU is at $4.7k
Burn 🔥
Krepling burnt $32,851 during the month of September.
Runway 🛫
We estimate we have 12-14 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 29%.
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