Oleg Mukhanov
- Co-Founder and COO / CFO at SteadyPay
GetLatka interview
How SteadyPay Reached $1M ARR and 10,000 Customers with 150% Growth (Interview with Co-Founder and COO Oleg Mukhanov)
Oleg Mukhanov (Co-Founder and COO / CFO of SteadyPay) spoke to Nathan Latka on April 27, 2022.
SteadyPay figures from the interview
- ARR (2022)
- $1M
- Customers (2022)
- 10,000
- Revenue Growth (2022)
- 150%
- ARPU (2022)
- $8 per month
- CAC (top product) (2022)
- £40
“So what we do, we automatically provide them the shortfall if they earn below average, and they repay us when they earn above average. So effectively, we convert irregular pay to a fixed salary, and we do not charge interest. We just charge membership fee. Think about us as Netflix for credit.”
“We connect directly to their bank accounts, and we use technology to actually get all the data. So and everything from ID check, KYC, AML, establishing their credit risk, as well their average and tracking it in real time is done by tech, direct directly to the through the banking connection.”
“So in '20 at the end of twenty nineteen, beginning of twenty twenty, 1,000,000 of equity, 1,500,000 of debts. Before that, call it 500,000 of equity, and now another 5,000,000 of equity.”
Bio
Co-Founder & COO/CFO at SteadyPay, an Award-Winning London Fintech focused on providing income stability solutions for the gig economy. Also, an angel investor and advisor to early-stage startups. Previously a Partner & COO/CFO of a London and New York-based Venture Capital fund Enso Ventures, as well as Executive Director and Non-Executive Board Member of some of their portfolio companies. Started his career at UBS Investment Bank in London, focusing on M&A, debt and equity financing for Private Equity funds and their portfolio companies. Holds an MBA from Columbia Business School of New York and London Business School.