Practical Founders Podcast
#69: Bootstrapped a Fintech Payments Platform to $10M ARR in 3 Years – Miles Schwartz
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Show notes
Miles Schwartz a cofounder of Zūm Rails, a fast-growing fintech based in Canada with a growing worldwide presence. In just 3.5 years and without any outside funding, Zūm Rails has grown from a focused startup to a credible open banking and instant payment gateway with $10M in ARR. Zum Rails also integrated KYC (Know Your Customer) technology which reduces fraud across all payment types.
Miles and his cofounder had experience with fintech payments before they started Zum Rails to improve EFT payment processing in Canada. As they worked with more partners and grew revenues, they expanded the Zum Rails solution and built relationships with larger partners.
Fast-growth, larger partner opportunities, and traction with a US expansion are causing Miles and his cofounders to think differently about the potential for the company and potentially raising growth capital from the right VC investment partner.
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