Founded in 2014, this bootstrapped subscription-based invoicing platform rivals the largest companies in the industry. The platform’s wide range of robust and flexible invoicing and expense management tools has been well received by the open-source community resulting in quick user adoption and profitability. Trusted by 200,000+ freelancers & SMB’s this company has established itself as a market leader.
With projected revenues expected to exceed $1.2M in revenue in 2024 and a goal to reach 500k+ users within 3 years, this company stands out for its organic growth, zero debt commitment, and robust financial outlook.
Over 75% of revenue is allocated to the founders, reflecting a lean operational model that ensures the company's solid market position and financial health. According to marketwatch.com, “The global Freelance Platforms market size is projected to reach USD 9 billion by 2027, from USD 4 billion in 2020, at a CAGR of 15.3% during 2021-2027.”, emphasizing the opportunity for growth in emerging markets.
Details:
2023 Revenue was $930K with an SDE of $556K (includes $120K operator salary)
Over 50% profit margins
Thousands of ~4.5 star reviews across many platforms
5,000+ users on community and support Slack channels
Over $270M online payments processed in 2023
Offers both self-hosted and traditional SaaS models
Projected 30-40% revenue growth in 2024 with effective marketing & pricing strategies
Opportunities:
Expand marketing and ad efforts (almost all growth until now has been organic)
Leverage the growing freelance and SMB sectors in emerging markets
Increase integrations with e-commerce platforms
The Founders see a merger or acquisition as a strategic opportunity to propel the company's growth potential.
