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NachoNacho platform for SaaS solutions held a seed round
Ukrainian investment fund Flyer One Ventures, which is part of the Genesis group, took part in the financing round of the American startup NachoNacho. The latter is engaged in the development of a platform for SaaS solutions.
NachoNacho raised $3 million in the round, led by AltaIR Capital. The startup’s marketplace allows companies to buy and manage subscriptions to a variety of SaaS products. Companies control their subscriptions through virtual credit card accounts. This approach saves an average of about 25% of the total cost of SaaS solutions, and there is also a 30% discount for customers to purchase new products.
The CEO of Flyer One Ventures notes the great benefit of the NachoNacho platform. According to him, the fund will be happy to cooperate with the American startup, helping it improve communication between companies and SaaS-solution providers.
According to representatives of NachoNacho, the investment will be used to expand the product line and improve the functionality of the marketplace. In addition, the startup plans to scale the business to improve its efficiency. The company wants to attract highly qualified specialists to the development, who will bring new experience and improve the quality of products.
Many developers of SaaS solutions are interested in placing on the NachoNacho platform primarily because it provides an opportunity to attract as many customers as possible. The fact is that the SaaS market is highly competitive, and its participants are fighting for every user. At the same time, they have to regularly increase the cost of attracting each customer. SaaS developers do not pay for hosting on NachoNacho, and the startup does not impose strict requirements for technical integration. This approach saves companies money on attraction, and the customer base continues to grow.
According to estimates by NachoNacho, over the 9 years of the marketplace’s operation, subscription savings have increased by 435%, and the dynamics continue to grow. At the moment, there is a trend towards using SaaS products via subscription. However, it causes a number of difficulties when choosing the optimal product, which will allow to optimize costs and cover all the needs of the company. The NachoNacho platform comes to the rescue, where you can choose a convenient product and edit subscriptions without additional costs.
The startup’s co-founder and CEO is Sanjay Goel, who started his career in various corporations. It was there that he noticed trends in the growing popularity of subscriptions, which were used for both professional products and life outside of work. That said, the developers of NachoNacho saw the problems associated with subscriptions and decided to fix them in their product. First of all, they simplified the selection of this or that product and made subscription management processes easier.