Episode description

Swipey, co-founded by Kalyana Mohan and Rouvin Thiruchelvam in 2021, started with a clear mission: to simplify financial management for businesses. What began with virtual corporate cards has grown into a financial operating system designed for businesses. Today, Swipey serves over 2,000 businesses, processes over RM120 million annually, and is on track to hit $1 million ARR in 2024, with ambitious plans to grow to $5 million ARR in 2025.

In this episode of Open for Business, Kalyana and Rouvin share insights into their data-driven approach to product development, the importance of trust in fintech, and their journey from corporate careers to entrepreneurship.

With plans to expand their CFO tech platform, capture more market share, and potentially partner with digital banks, Swipey aims to redefine financial operations for modern businesses.

Here are some key highlights from the conversation:

- Origins: How the founders transitioned from corporate careers to addressing SME pain points in financial management.

- Early Challenges: Developing their MVP during COVID, prioritising milestones, and funding their early-stage growth.

- Product Evolution: Starting with virtual corporate cards and expanding to a full CFO tech platform, including accounts payable solutions and financial automation.

- Growth Milestones: Serving over 2,000 businesses, achieving $1M ARR, and targeting $5M ARR by 2025.

- Market Strategy: Leveraging trust, word of mouth, and low customer acquisition costs to grow their user base.

- Future Plans: Scaling their CFO tech ecosystem, expanding revenue streams, and exploring partnerships with digital banks and global financial institutions.

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