Rowan Wilde, CCO, HelpPay
Raising capital for a startup can be a long and meticulous journey, but the payoff is exhilarating. So, what’s the next move after getting funded? To get a clear idea we spoke to HelpPay’s Chief Customer Officer Rowan Wilde.
HelpPay is a one of a kind bill sharing app that allows people to safely share their due payments with friends and family which allows them to chip in and pay it off. In November 2021, they secured $2.4 million in Series A funding that the company is using to invest in three areas of their business: technology, B2B sales, and growth marketing.
<aside> 📌 Visit HelpPay here
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It’s easy to get overwhelmed over all the things you can get done once you raise capital. Instead of pouring a little money into all your ideas, try making a plan and spending on the most important things. For HelpPay, being an app, technology is at the forefront. They want to present the best possible experience for their users. In terms of sales, they’re looking to appeal to businesses and charities who want to use their app as a platform for debt prevention. HelpPay’s philosophy is “the best kind of problem is the one that never starts”, and debt being a very prominent issue in Australian society, it tends to lead to financial insecurity, which HelpPay wants to alleviate.
“We really want to make sure that any person or company that wants to do more for their vulnerable customers is able to quickly pick us up and talk to us.”
Having had their product launched after their raise on the 30th of November, the first order of business was getting it out to their investors and getting feedback. From then on to the first quarter of the year they’re focusing on growing their business, implementing changes through feedback, and getting the word out about it.
<aside> 📌 Find out more about HelpPay here
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Processes are important in a time like this. Once your plan is complete, make a timeline so you know what you have to do and when you have to do it. But take into account that you have to carry it out correctly, rather than getting it out of the way. It’s not about how fast you get there, it’s about the road you take. You need to have a deliberate set of decisions to take you to where you need to go.
“We’re taking a bit of time because it's investors’ money. We have a responsibility not just to ourselves, but to every investor, and frankly, based on the technology we built, we feel like we have a bit of a responsibility to the people who will use the app but don't use it yet. They need to experience it the right way”.
Expanding your team and operations is a natural next step after raising capital. Whether it’s hiring people to meet the new demand, or for improving the existing product - bringing someone who fits within your company’s culture and mission is vital. While hiring based on skills and experience is important, you must also look at how they will fit in within the company. A good team runs like a well-oiled machine, and that’s something to aim for.
Rowan mentioned that HelpPay always hires on who you are based on a person first and skills second. “Skills can be taught”, he noted, but not everyone is going to be a good addition to your company. HelpPay is looking for people who believe in their purpose and want to make a difference.
“You have to believe that helping should be easier because we're making helping easier”.
<aside> 📌 Visit HelpPay’s LinkedIn
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Once you get your ducks in order with the first three steps, you can be well on your way to make a difference, and HelpPay is an app that’s going to make that difference. Their ideology is that helping should be easier and if helping is easier, then more people will get help.
“With HelpPay, money flows to where it’s directly needed, which leads to people feeling less financial anxiety and engaging more in society. More people will consume less addictive substances and vices, families will be happier because there's more money in the household for the things that matter like power, or heating”