CrewPay Whatupdate No. 54
Hello, crew.
Team Accomplishments & News
- No updates
Product Accomplishments & News
- Product update from Matt: Slides
- Good call with Track Tax about how their API could add value to contractors on the platform
- Team working on Checkbook planning and finding our own fraud partner
Sales, Marketing & Customer Success Accomplishments & News
- Continuing to build a thesis for fundraising
- Call with Basis State to “demo” the materials they developed to go pitch CrewPay
Revenue & New Client
- 19 transactions last week (394 YTD)
- $23.7k sent last week ( $614k YTD)
- 1 new company, 5 new contractors
- 11 active companies (25 total)
- 52 active contractors (183 total)
- Totals:
- WoW Contractor growth: +3%
- WoW Company growth: +4%
Closing Thoughts
Two quick things for this week.
Funding
We received the official nod from FLCF that we’re approved to extend our note for an additional $125k. Alright! These funds will keep the lights on for a few months as well as go towards swapping out Dwolla.
Product
We’re continuing to learn more about what experience our customers (businesses and contractors) desire, and in some cases require, from a payments platform. The feedback is extremely helpful as we continue shifting to a contractor-first product.
What we’re hearing also lines up with a recent fintech outlook report from Pitchbook. Here are my key takeaways: - “omni-commerce” channels for merchants to take all forms of payments (I also think this is true for contractors to receive payments across multiple channels) - speed (instant or next-day, like Venmo for Business) - mobile payments - no one has really designed the experience for contractors
Have a great week.
Ever,
David