Report from NACHA: Faster Payments get Banking Moving

wepay

The primary participants at the conference are financial institutions big and small, corporate customers and all the processing partners that move money along bank rails. Big banks were really concerned about losing revenue and about changing architecture on legacy systems.

7 Lessons Helping Start Pardot, SalesLoft and Calendly (Video + Transcript)

SaaStr

We worked closely with Silicon Valley Bank, and we got a line of credit based on a multiple of our recurring revenue. And so, as the business grew, the line of credit grew and we just kept burning all the money that we could get from the bank.

From Slooooow Growth to Hypergrowth with Collibra and Insight Partners (Video + Transcript)

SaaStr

And in that sense the financial crisis actually was a good thing for us because that was really kind of our beachhead in the market, because suddenly all of the large banks needed to comply to a lot of new regulation, seek RC, BCBS, all of those things, which ultimately are all data regulations.

Lessons From a Second-Time Founder: How Brex Went From 0 – $1B in Under 2 Years (Video + Transcript)

SaaStr

So, there’s all these people who are just using debit cards, and just walking around with debit cards with 120 000 in the bank, or just using their personal card for all these things. ” We all have all these banks, and they’re a pain to deal with.

SaaS in Africa: 10 Things We Learned From Scaling to 1M Users (Video + Transcript)

SaaStr

For example, banking. Most African markets never had a banking infrastructure the like of which we used to here. More than half of Kenya’s GDP is now transacted through a mobile, through arguably the most successful mobile banking and payment system called M-Pesa.

Small Business Will Drive the Next Billion for SaaS with Kabbage (Video + Transcript)

SaaStr

It’s not that banks don’t want to serve them, all of our customers have a bank account. They just can’t get a loan from their bank. And the banks are jerks, they just don’t have the tools, and the technology to automate that process.

“From Hackathon to Unicorn” Talkdesk Co-Founder Tiago Paiva and SaaStr CEO Jason Lemkin (Video + Transcript)

SaaStr

I don’t know how much was in the bank. Tiago Paiva: And then the thing is when you have a CEO that doesn’t have a lot of money in the bank, it’s very rare that the occasion where you can actually do bold bets, it’s all about it.

SMB 233

Top 10 Lessons Learned in Getting to $100M ARR with Adaptive Insights (Video + Transcript)

SaaStr

Because when I got to work and we began to understand what was happening, there was several hundred thousand dollars missing from our bank account. She had committed to pay the bank back some money on some term loans we had that day, which we hadn’t realized.

How Founders Can Take Control of Their Destiny with Tradeshift (video + transcript)

SaaStr

But the reality is that a SaaS business is essentially a bank. If you think about it, what you’re really owning is you’re owning the best bank in the world. Join Tradeshift founder and CEO as he shows founders how to take control of their destiny.

State of the Cloud 2019 from Bessemer Venture Partners (Video + Transcript)

SaaStr

Kristina : So now, let’s talk about the third tactic within how to build a resilient company which is, in the bank cash. Each one of these metrics have their own benchmarks to help you determine what is great growth retention, in the bank cash, and targeted spend.

Cloud 213

How to Make User Acquisition Practically Free with Lambda School (Video + Transcript)

SaaStr

So we saw huge lifts in acquisition when we moved from money that you can get in 12 hours to money that you could get in five minutes in your bank account, and that’s because some people didn’t have 12 hours to wait and stress.

SaaStr Podcasts for the Week with HelloSign and Adaptive Insights — August 30, 2019

SaaStr

Whitney is also an advisor to companies funded by the YC Continuity Fund, focusing on enterprise strategy, go-to-market strategy, leadership and execution. What does truly successful exec leadership look like in Whitney’s mind?

How to Build a $18B+ Success Story Far Away from Silicon Valley with Adyen (Video + Transcript)

SaaStr

So in these markets people pay with debit methods or with online banking based payment methods and in these countries they represent maybe 80% of all online transactions, in store transactions.

From Idea to Billion Dollar Business: the RingCentral Journey (Video + Transcript)

SaaStr

Jonathan : Did you ever get advice during the downturn to like, hey, raise money now so you have stuff in the bank? All of investors talk to each other, all the banks talk to each other. So people know that the company is talking to the banks and they expect something will happen.

A Decade of Learnings from Y Combinator (Video + Transcript)

SaaStr

And then the last one is not creating an environment around transparency around money in the bank and KPIs. We had half a million in the bank. Michael Seibel is CEO and a partner at Y Combinator and co-founder of two startups – Justin.tv and Socialcam.

State of the Cloud 2019: Europa Edition with Alex Ferrara, Bessemer Venture Partners (Video + Transcript)

SaaStr

The third tactic I wanted to quickly talk about is cash in the bank, so, now, we figured out… We talked about growing your customers. They were growing at around 300% per year when they were at this scale, and so, with two years of cash in the bank and a 1.5X

Cloud 130

The Sendgrid Journey: Scaling From Growth Stage to $2B Acquisition in 4 Years (Video + Transcript)

SaaStr

And that was an important shift, I think, for our leadership team. Sameer Dhokalia: We also, frankly, ended up having to have a whole new leadership team that knew how to do that, because the prior leadership team was really great at getting it from zero to 30.

Crushing the Pivot: Lessons Learned from a Product Reboot with TaskRabbit (Video + Transcript)

SaaStr

It was a bank. I think it illustrates this lesson, which is the higher-ups at the bank, the leaders there said, we want to have really aggressive goals, and we want to measure them quarterly.

5 Key Steps to Evolving Your Offering Into a Platform with Eventbrite and Stripe (Video + Transcript)

SaaStr

Some developers would ask us, “hey, I’d love to have thousands of bank accounts inside my one Stripe account” and we’re like, but what are you really trying to do? How can a simple offering be transformed into its own platform?

How to Design a Sales Comp Plan to Get You to $100M (Video + Transcript)

SaaStr

And so that required leadership coming in and saying, “What exactly am I looking to incentivize here?” When I was hiring my team to run comp plans, I would always tell them a quote that Tyra Banks said, “Don’t mess with a girl’s pay.”

Avoid Trapdoor Decisions: 5 Lessons Learned from Scaling Stripe (Video + Transcript)

SaaStr

So before Stripe, an online company that wanted to accept payments had to go prove themselves to a bank, which was like a weird catch 22 because the banks would say, “Can you please show us your payment and your revenue history?”

“5 Dos and Dont’s Lessons From My Bootstrapping Days” Wrike Founder and CEO Andrew Filev (Video + Transcript)

SaaStr

If when you’re bootstrapping you still have to do a bunch of one offs just because your bank account can not go negative. Blog Posts Career Growth & Advice Company Stage Featured Videos Leadership Marketing Other SaaStr Events Sales Scale Videos saastr saastr europa

SaaStr Podcasts for the Week: May 24, 2019

SaaStr

There was no investor to bank us in case that happened, and that built very strong DNA through all this years up until today when our venture fund had pretty big rounds. Harry Stebbings: Well it’s a sign of a special team and I love that emotional leadership.

How Startups Can Deal With Scaling Problems

OpenView Labs

Freelancers are another way to scale a business without breaking the bank. LeadershipIn the USA, more than 50% of businesses fail within the first 5 years of operations, though the rate changes depending on the particular industry.

Human-Centered Design Network’s Gerry Scullion on inclusive architecture

Inside Intercom

Especially when you’re looking at organizations like banks that are baked on 200 years of behaviors that have just been reinforced time and time again. There’s a reason why the banks are suffering. ?. Like the built world, the internet is constructed for the majority.

SaaStr’s Most Respected Leaders Awards 2019: The Top Five

SaaStr

She went on from there to become CEO of Merrill Lynch Wealth Management, Citi Private Bank and Smith Barney. Stripe’s software allows its customers to make and receive payments by providing the technical, fraud prevention and banking infrastructure to operate online payment systems.

Techstars and 43North Partner to Grow Entrepreneurial Ecosystem in Buffalo

TechStars

The Techstars Startup Ecosystem Development program in Buffalo is a partnership with 43North, with support from M&T Bank, National Grid, and others to be announced.

SaaStr Podcasts for the Week with Oracle, Salesloft, Zoom, and FireEye — December 6, 2019

SaaStr

And what I mean by that is if I’m working with a bank and I go into a branch, I expect the teller to know that I’m a very loyal customer. I’ve been with the company for 30 years, I’ve got a lot of money with that bank, and I expect them to treat me appropriately.

Cloud 130

Mary Grove on the origins of Google for Startups & Startup Weekend

TechStars

I had the opportunity to spend time in places like Iraq, Afghanistan, Pakistan, Gaza, the West Bank. From Google for Startups to Startup Weekend to Rise of the Rest and beyond, Mary Grove is passionate about community-driven change, and helping make it happen.

John China on whether you can give too much

TechStars

In over 23 years at Silicon Valley Bank, John China has made it his mission to make connections between entrepreneurs, investors, corporations, and more. Silicon Valley Bank. Can you give too much?

People of WePay: Jennifer Parker, Chief Revenue Officer

wepay

When I joined the bank approximately nine years ago, I was an individual contributor in sales. Chase consumer bank is in approximately 61 million U.S. households do business with our bank and this is including 4 million small businesses.

Debt Capital: An Attractive Supplement Already For Pre-A SaaS Startups? – A Chat With Daniel Kreis, CEO of Deutsche Handelsbank”

The SaaS Garage

I have to admit that I was a bit skeptical when the founder of that company mentioned to me that he is about to sign an overdraft (debt capital) contract with a bank, only a few weeks after he had initiated the dialog.

Driving Good Sales Behaviors: 4 Tips to Incentivize a Sales Team & Achieve Targets

Sales Hacker

In 2016, it was discovered that Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts — without their customers’ knowledge — to meet sales goals. As you might guess, it boils down to how leadership incentivized the sales team.

Sales 93

Using ABM to Maximize Sales with Current Customers

OpenView Labs

Your Existing Customers Are Money in the Bank. According to the ABM Leadership Alliance , companies using ABM strategies increased their annual account value (ACV) by 171%.

The Secrets to Building a World-Class, $2.3 Billion Inside Sales Team (Video + Transcript)

SaaStr

As everyone left to work for an investment bank in California or New York that summer of ’99, I went to work at a startup in Ann Arbor. The true test of your leadership is when things are hard. Duo Security is an Ann Arbor, Michigan based cyber-security startup.

Sales 159

Creating Self-Service Customer Success That Works for Everyone (Part 2)

OpenView Labs

We’ll also cover an element that helps with onboarding and the customer journey while also establishing category content and thought leadership: Awesome Webinars. They also become part of your category content and your thought leadership.

The SaaS Financial Model You’ll Actually Update (Updated 2019)

Baremetrics

This is where you’d benefit from bringing in someone from your leadership team to keep things up-to-date. . The end result is Net Cash Increase, which is the amount that gets added to (or deducted from) your bank every month. .