INSUBCONTINENT EXCLUSIVE:
Leapfin, a startup selling corporate finance tooling, announced a $4.5 million round this morning
The funding event was led by Bowery Capital, and included dollars from a number of former technology executives.Before its newly announced
investment, the company had raised just a small seed round
According to Leapfin CEO Raymond Lau, the company is running lean and keeping an eye on profitability.After being founded in 2015 and
starting commercialization of its product in 2018, the company is stepping a bit further out of the shadows this morning
revenue and cost of revenue expenses.In more human terms, Leapfin helps companies track sales, and how much it costs to create and
distribute its goods and services to customers
gross margin revenue.In part, their high gross margins are why software startups are worth so much.Back to Leapfin, its product is a shot at
making business a more limpid process
business owners only manage to fully collate their revenue and cost of revenue results monthly, meaning that the rest of the time they are
So Lepafin does two things: helps companies know where they stand financially, and saves them time on rote tasks that tend to come with
accounting.The company is pretty happy with its ability to sell its product so far
a product that costs six-figures annually), and its sales cycle tightened.Why the company is coolLeapfin is run a bit differently from most
SaaS companies that we cover
Instead of raising lots to invest in blow-out sales and marketing expenses, Leapfin is running pretty lean.TechCrunch asked Lau why he only
raised $4.5 million in the new round, which, given the product progress his company has made, felt modest
profitable by the third quarter of next year
CEO.Despite that, the company expects to hire quickly, expanding from around 20 people today to 50 by the end of next year
What we need next from Leapfin is an ARR number so we can vet just how much product market fit it really has.
