How Regpack CEO Asaf Darash grew Regpack to $2.1M revenue and 1.4K customers in 2025.

guys reg packs launched in 2012 had their first million dollar year in 2016. today over do over 10 million dollars in Revenue across 1400 summer camps after school programs NFL camps things of that nature uh that each customer pays on average call it seven thousand dollars per year across three lines of business one is a percent of gmv one's purchase protection when you buy tickets for your kids if they get sick you know you want your money back and the other is a pure SAS fee right 3K per year on The Sassy per seat model it's going nicely and they've done it all bootstrapped which we love incredible growth here with a team of 30. so really high Revenue per employee of 350k impressive story here hey folks my guest today is a soft draw she is building a company called reg packs it's regpacks.com which is registration and payment processing a software ready to take us to the top yeah sure all right registration and payment processing for what industry so we are what you can call uh like a Shopify for services um basically the service industry mainly the service industry right now we serve um mainly education camps courses after school programs schools um and we're expanding also to uh to more Industries as as we grow and and I guess why do you intimately know this space as well did you have your own Camp after school camp program before this or how do you know about the problem so actually this is this is a nice story um this all started when I was doing my PhD at Berkeley and I was doing a PhD in computer science and built a system that has no constants in everything's a variable and as I was um working on this um I asked myself okay what industry would need something like that it's basically what is called The Meta programming problem um and as I was looking I saw the service industry in general and especially the education industry in the service industry and it was extremely fragmented and the reason that it's extremely fragmented is because it has a very unique need a need for onboarding like when you when you register for a camp or for a course or for a university for a school you need to onboard right or for an event a conference doesn't matter anything that is based on on service you have to onboard unlike you know buying a pen or a computer um and this onboarding creates this fragmentation the market because every onboarding is different and then I understood okay this this solution that I created at Berkeley can actually work exactly for that because it can it can it can consolidate this type of foreign after camp or after school program that might use you how do you make money do you charge them a flat fee or percent of Revenue how do you make money um they're they're actually two revenue streams here one is like the basic SAS Revenue stream you know paying for subscription seats so every admin and we have like levels of admin and the other one is through the payment processing we have um very special deals with payment processors and we offer um to the end client a lot of uh advantages working um through us when they're when they're processing their payments and we take a share out of that and how much so if I put 100 through your program what would you keep if you put a hundred dollars through the program this this most likely the organization would pay something like two dollars and 30 cents and I would just keep 30 30 cents out of that wow okay and the other the other two bucks goes to what to Visa Mastercard somebody else interesting okay so you're keeping gosh I mean that's like so you're keeping under one you're gonna be like point three percent of your total gmv exactly okay um interesting is there room to flex that up or is that sort of market rate um there is room to flex that up um and it really depends if you if you want we can go into it like there are situations where we actually make close to a percent okay and it really depends on on the type of card that is being used if it's a Enterprise card or if it's a debit card if they're paying through ACH the whole way that payments works is very complex I know I don't want to go down that rabbit hole I know it's complex but you would say you're waiting your weighted average though you would say it's 0.3 percent no the weighted average is one percent oh it is one percent okay cool it's got it so if someone uses the perfect transaction part so no Amex you know something super simple right then you can earn you know as high as uh uh you might take it sorry if there's not a lot of credit card processing fees you could take as much as one percent if there's a lot of fees depending on how they use or the ACH you might take as little as 0.3 percent yeah and um like but if you ask about like the perfect in the perfect situation we could take like you know um out of the 2.3 percent we would take like 2.29 and and what would that be would that be like a check mail then oh ACH okay 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 the 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 founder 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 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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 want to check this tool out if you want to 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 evaluation 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 about the if you had to split these up so look at your total revenue last month what percent was SAS first payment processing would you say uh payment processing is about 40 That's 40 and then we also offer a program called purchase protection for our uh for the organizations which uh allows them to the end user to protect themselves against death sickness Etc and that's about 20 of our Revenue I don't understand that so I spend I spend 50 bucks to buy the after Camp you know program I can go climbing through Yellowstone and basically I'm saying if I die between that and when I work when I purchase my ticket when the hike starts then I have protection yep people care about this so if I buy a ticket today to hike Yellowstone through your program and the hike is in a week I'm gonna pay something to prevent like if I die get out get a refund um if you're sending your kids to a camp that costs two thousand dollars a week you will protect them because if they're sick for one week you're out of two thousand dollars oh I see so that someone would pay 200 bucks where you'll refund the two grand it's basically Insurance you'll read from the two grand if the kids are sick and can't go exactly oh it can be based on a week like if you take the kid to the camp for like uh six weeks and only in one week they're sick fine you get on for that week that's fine I see I see okay and then if we just look at the SAS component of your business what does the average after school programmer can't pay you per month to use the technology uh between 2K to 4K per month per year oh per year okay got it per year and what do you price on is its number of courses offered number of days in session just a seat just seat okay so it's it's a number of Camp counselors that need the or...