CrewPay Whatupdate No. 68
Hello, crew.
Team Accomplishments & News
- Continuing interviews for CEO
Product Accomplishments & News
- Product slides from Matt: Slides
Sales, Marketing & Customer Success Accomplishments & News
- Quiet week
- No word back from Josh at NAKS
Revenue & New Client
- 16 transactions last week (6656 YTD)
- $25k sent last week ( $1.15M YTD)
- 0 new companies, 1 new contractor
- 2 active companies (25 total)
- 44 active contractors (245 total)
- MRR $208 (-15% over last week)
- ARR: $2,496
- MRPC: $104
- Totals:
- WoW Contractor growth: +0%
- WoW Company growth: +.04%
Closing Thoughts
Last week we reported a new business that signed up and invited 14 contractors. Turns out, it was a fraudulent account and it processed a significant amount of payments before it was flagged by Dwolla.
Thanks to Matt, Joel, Marty and Sandy’s quick work, we have a chance of reversing these payments.
We’ve temporarily turned off the ability for new businesses to sign up until we better understand how this happened and what we need to do moving forward.
I bring this up for two reasons.
One, yes, fraud accounts still present a risk to CrewPay and, FinTech is hard.
Two, the fact that it’s hard is what makes what we’re doing valuable.
I’m very encouraged by the CEO calls we’re having. The folks we’ve met with “get” CrewPay’s contractor-first vision and see its potential.
Onward.
Have a great week.
Ever, David