Go go go...
We carried good momentum into 2021: as I mentioned in my previous update 2020 was a great foundational year for Upside. We have the team, tech, funding and early traction to set us up for 2021. Now it’s all about driving growth: more merchants, more distributors, more users, more data, more insight. Of course there will also be features, frolics and fun - but our sights are clearly set on our OKRs:
- Acquire Activated Users.
- Sign-up Merchants.
- Build Sustainable & Scalable Product, Tech & IP.
- Build a team of fearless, people obsessed owners, that deliver sustainable results.
We will report on these consistently each month, with other lead indicators where necessary.
Jan in summary:
Acquire Activated Customers:
- Connected and active customers up 44% mom.
- Direct acquisition campaign kicked off on Thurs 28 Jan with some exciting first few days of growth.
Sign-up Merchants / Retailers:
- Some big retail brands have signed up, and will be in the app soon.
- 24 merchants signed up in total.
- 88 in the pipeline of which we expect to convert 30.
Build Sustainable & Scalable Product, Tech & IP:
- Customer activation rate 34.8% (up from 21% in December). {An activated customer has completed registration, connected an account via open banking and has passed KYC.}
- Over 9,268 upsides have been paid to date (up 36% m-o-m). Delighting customers.
- Auto-match rate above 99% for the last two weeks.
- No major incidents: Production stability and performance remains good.
- Customer engagement score of 5 out of 5.
- 1 new account closure this month making the cumulative total 8.
Team:
- Off to a flying start in Jan. We are all both excited and a little nervous about the pace at which we hit Jan both from a growth and delivery perspective. But we are ready!
HOW TO HELP / GET INVOLVED:
We are in the App Store! Please spread the word.
https://apps.apple.com/app/apple-store/id1522861821?mt=8
We are hiring! Specifically looking for Software Engineers - if you know any rockstars, please refer them to Paul.
https://www.upsidesaving.com/seniorengineer/
Many thanks!
Andries & Team