How Aydi CEO Hassan Fayed grew Aydi to $6.6M revenue and 10 customers in 2024.

id.com is helping big farms in the UAE higher seasonal workforces quickly and management yes sorry in Egypt manage their workers in acreage they're working with 10 big farms right now 1200 active Acres engaged 5 000 seasonal workers placed already he's hoping to be able to charge a dollar per acre per month active acre per month and also about uh call it 75 cents per day per hired employee which would be about 3 700 bucks per day but launching pricing next month nothing yet burning 40 Grand a month with a team of uh call it 27 people 11 Engineers as he looks to continue to scale and turn on that paywall hey folks my guest today is Hassan Fayed he's the co-founder and CEO of idea B2B sasking it helps commercial Farm Source manage and pay their seasonal Workforce he's also a board member at tradelink.com a leading UAE based B2B e-commerce platform and scality a dubai-based startup landing and acceleration platform Hassan you ready to take us to the top let's do it all right so give an example of a commercial farm that might use you are these you know Walnut Farmers pineapp what kind of farms yeah so the main crops that are grown by commercial Farms here in Egypt are Citrus grapes uh strawberries potatoes and so on and so forth uh so quite similar to what you would typically find in States like Florida or California uh uh in the U.S okay so a potato farmer walk me through there why does a potato farmer have to hire a seasonal Workforce at all so um the way that agriculture works is you have spikes and seasonality in terms of um when they need workers to come into the field to either prune trees harvest the crop uh do field maintenance and so on and so forth so the nature of that market is you cannot hire people full-time you need to bring them in on a on a seasonal basis and there's one billion people globally that work uh seasonal um agriculture workers so that's one out of every seven or eight people in the world that do this kind of work and so walk me through how that potato farmer how you make money from them by helping them hire these seasonal workers sure so um we we offer our software that helps them put out um kind of like uh requests for workers to come in and and and and work on the farm when they need them to come in and then our software essentially what it does is it digitizes the forms by creating uh digital identities for each and every plot that they have with QR codes and we have a supervisor app that allows the field supervisor to track and register um every task that a worker does on the field and report that back to the management uh that are typically sitting in an office uh somewhere not too far so that they can have real-time visibility on everything that's happening in the field and how the workers are performing and be able to reward and retain uh their top performers as well and assign what does the average farmer pay you per month to use your technology um so we're actually still in the um better pilot phase uh so we haven't started charging our customers we're working with 10 of the largest commercial Farms right now uh to uh perfect our product before we we launch it why not change them a design why not charge them like a design fee I mean a co-build fee or something so the the challenge here is that we're really introducing software probably for the first time uh in this sector a lot of these forums still use pen and paper to manage most of what they do and so really demonstrating the value is a is a crucial prerequisite to us gaining their trust uh and and being able to charge them and once they've seen the value so a lot of the conversations that we have are not us trying to pitch our solution versus other existing Solutions in the market uh it's really us selling the idea of bringing software into the farm so it's not how much have you spent so far to build the software uh so we've spent about uh 250 000 so far to build the software and it includes uh four different products basically that uh one is for the worker one is for the supervisor uh one is for the management itself and one is for our internal uh tools and and and management oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built it into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for evaluation this year now the secret valuation is there's many different ways to value a SAS business so the reason you're going to see three or four different evaluations inside of your frownerpath dashboard this is all free by the way is because depending on who's doing the buying of your SAS company 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million dollars okay and and how did you I mean do you have a history of building and sort of selling a company I mean how did you raise two million bucks pre any pre-pre product yeah we've uh we've already so previously I had built a few companies in the UAE uh in Dubai and we've scaled these to uh uh quite healthy uh to become quite healthy businesses uh that are standing on on their own two feet um I think that what we what enabled us to raise uh this amount uh at an early stage is a the validation for the value that this product can bring uh from uh the from leading industry players uh measure by what number of scans number of workers hired what's the utility metric you're measuring there the activation metric so the main thing is number of Acres engaged and the numbers of workers uh that we uh that we onboard as well uh So currently in the pilot we have over a thousand two hundred acres that are engaged on a daily basis and uh we have uh close to 5 000 workers that are also engaged on it daily what does that mean five thousand workers have been hired by one of these farms and are making money via your app yeah exactly wow that's impressive okay I mean so I guess why do you have to keep waiting to charge I mean that sounds very valuable Why not start charging now um so the the main thing is really to make sure that our software uh and our products uh are able to deliver the right kind of value to these farms and it's something that we're planning on doing I mean the first customers that are going to start paying is next month in December uh and we charge them we charge them on a per acre basis how much uh uh so we're starting off with a dollar an acre a month uh uh with the with these customers uh plus we charge uh we're gonna charge uh service charge for the workers that we that we bring in basically because we do the vetting and the onboarding on the training um we charge a service a service charge so basically it's a five percent on the overall order value that uh that they place in that order value though I mean we're not talking about objects here we're order value is really the salary they're paying a seasonal worker exactly yes so what does the average of those five thousand hire what's the average seasonal worker make uh a day or uh sure yeah a day so it's around um I mean it's around maybe 15 a day give or take 15. okay...