How Fatura Simples CEO Felipe Bagetti grew Fatura Simples to $324K revenue and 100 customers in 2022.

hey folks my guest today is felipe bashetti he's a passionate about people and business growth that's why he created patora simplice he's a countryside city guy from brazil and has no fear of taking risk as a background in technology and his experience of living abroad helps him to be an empathetic leader the company today again fatorasemplace.com.br is a recurring billing automation platform for business growth felipe are you ready to take us to the top yeah sure let's go so recurring billing for who what kind of customers are you selling to [Music] yeah right now we are focused on the health sector on um how can i say this in english is uh some kind of um health assistance plan for low-income people so there are a lot of health clinics for low-income people in brazil that create this kind of plans so you pay a subscription fee monthly usually and uh you gain a lot of benefits so this clinics will take care of your health so we are focusing on these uh this kind of customers right now so are you selling to the clinic or to the patient to the clinic i see how many clinics are paying you today uh i'd say about 30 around this but uh let me say one more thing this is what we are focusing right now because we started uh with a more generic uh positioning so we have a lot of uh sas businesses using our subscription uh platform so they can automate these processes but and a lot of other kinds of customers but this is our focus right now and in in december so last month how much total transaction volume did you process about 6 million okay across 30 customers no across our home base that we intermediate the the money because we have some money some sort we have some customers that don't use uh these two of the of intermediating money they plug their own processors i see so six million so how many customers total for the six million of gmv uh i'd say about a hundred a hundred maybe a hundred ten something like that okay felipe talk money to me how do you guys make money oh we take a a transaction fee and uh so you if you make a transaction we would we will take about it for rice really but about one real brazilian real to three three twenty uh and so what percent is that depends but i'd say it's like half okay so on six million of total gmv in december last month if you take a you are trying to calculate right just not trying not to not trying not not trying i am six million times point five percent you guys did about thirty thousand us dollars in revenue last month uh just shy of that yeah 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 valuation this year now the secret evaluation is there's many different ways to value a sas business so the reason you're going to see three or four different valuations inside of your frowner path dashboard this is all free by the way is because depending on who's doing the buying of your sas company you're going to get a different valuation a vc is going to pay a different valuation private equity firm is different if you're going to do a minority sale that's different and if you sell the whole business that's a different valuation you can see all those when i hover over here right so the teal is what a vc would pay yellow is what private equity and red is if you sold the whole thing outright now what's cool about this is this is not built off random data again you guys hear these interviews on youtube all these datas are built from real-time valuation data points founders share with us on the show so traction 1.2 million seed round 3.7 raised they sold 22 to their business go in here and filter by the event maybe you only want to see companies that have sold the whole business well here are a bunch that have been acquired the valuation and the multiple maybe you're going out right now and you're raising your seed round well go in here and look at all this recent seed deals that went down what they raised what valuation they raised at and what percent that they sold there's never been a larger data set of sas valuations than what you can get now inside of founderpath and we're thrilled to bring it to you all right we're gonna go back to the youtube video here in a second but if you wanna check this tool out if you wanna jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash evaluations or if you go to founderpath.com and hover over products click on get your valuation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform i hope to see you there all right let's jump back into the interview what's the future plan are you trying to work with more sas companies or are you only focusing on clinics moving forward uh we are focusing on clinics and the tangents like the the similar kinds of of operations because you see sas companies don't we we don't have we don't really have a differential a competitive differential does that really make sense in english it does you don't have competitive differentiation who does mostly recurring billing for sas companies in sao paulo who are your competitors there oh yeah we have uh there is a company called vindi uh hugo there is another one super logica others there are a bunch of them so that's a problem you see there are there is a bunch of them doing the same thing so the the fee each one has the ability to take uh this space is competitive so there is not much margin there so we are going in another direction that's a really i think is a super smart move when did you launch the company we started at 2013 as a software studio and uh along the the years we developed photoresist as a side product i'd say but we since the beginning we we wanted to make the the shifts and we did the beta of photoreceptors was launched at late 14 and along the next years we started the shifts and i'd say three three to four years now it's like 100 percent our focus so fetora you launched as a studio in 2013 you worked on many side projects by 2016 futura was really your main focus and you've been focused on futura full time for the last four years yeah that's pretty much it okay very cool and you keep saying we how many co-founders do you have i have a just one partner okay and have you guys bootstrapped so far did you decide to raise uh we we did not really decided to race uh until two years no three years ago we we were going bootstrap it like all the way because the the ecosystem in brazil was not very good but it it changed a lot so we started raising and um last year we raised uh to 250 approximately 1000 dollars check uh i'd say around that because we we raised it in brazilian rio so i don't remember the the uh the dollar price at the time that was your seed that was your seed round yeah i'd say see your breasts i i don't really know how much felipe how much equity did you sell was it a 5 million cap on a note uh um sorry what did you ask how much equity did you sell for 250 000 oh yeah uh you are pretty straightforward damn america damn americans you know this is american podcast host yeah uh we sold 20 20. so this was about a million dollar pre-money valuation and a million post a lot of conversions for you but yeah i think that's right yeah yeah about that do you regret it or was it the right move oh it was the right move for us at the time or we have a lot of synergies with our our investor like not really um exchanging clients or something like that but future wise and uh we needed a shake-up i'd say so uh it was good and if you're doing it has been good has been good yeah if you're doing about 27 000 per month today in revenue what were you doing exactly a year ago do you remember uh yeah about half so this is good grow this is your fastest growing 12 months over the past six years right uh in total volume yes but percentage wise not really because you know when you are really small well yeah yeah a dollar to six dollars is you know 600 percent um what drove the growth from 14 000 a month to 27 000 a month is it the focus on clinics and health uh not exactly this but kind of because we started there there is a uh fun thing about this business model is that if our clients grow we also grow so we make one sale and this guy is generating let's say a hundred dollars monthly and he grows 10x he starts generating 10x more money for us and some some clients grew in the last year and it drove our our revenue up and uh this new new segment these clinics they operate in a much higher volume than a sas business for example if you have a sas business that have let's say 2000 customers it's a big such business if you if you have a clinic that has 2 000 customers it it's just validated the the business you...