Overview
PriceWell, co-founded by Spiro Kontoprias, is a billing SaaS platform designed to simplify the billing process for subscription-based businesses. Launched in November 2020, it has grown to support various non-technical businesses like fitness groups, marketing agencies, and private social media groups, in addition to typical SaaS companies. With no initial advertising spend, PriceWell has achieved $5K in Monthly Recurring Revenue (MRR), serving 120 active customers with nearly 2,000 sign-ups.
Unique Aspect
Offers a user-friendly billing system that requires no coding, facilitating subscription management, coupon codes, churn management, and secure invoice issuance.
Approach to kick off
Began as a solution to a personal struggle with billing integration, transforming into a service catering to non-technical founders in the subscription industry.
Scoop
Business Model ViabilityThe business model, focusing on providing a vital service to a niche yet expanding market of subscription-based businesses, demonstrates high viability in the current digital landscape.
Future Projections
Plans to expand service offerings and market reach, targeting larger enterprises and diversifying customer base across various industries.
Startup Stats
📊 ARR: $60,000
📈 MRR: $5,000
🚀 Startup Costs: $100
👥 Team Size: 3
🌍 Market: Targeting small to medium-sized businesses and non-technical founders in the subscription industry
👨💻 Users: 120 active customers, almost 2,000 sign-ups
💰 Funding: Bootstrapped with minimal initial investment, revenue driven by service subscriptions
👨💼 Founders: Spiro Kontoprias
Related summaries: