Moneythor and the fruits of its decades-long labor

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Hello reader,

I reckon I’ve mentioned this before, but I’m a process person. While results obviously matter and provide a north star metric, I find that what’s most important is what happens in the day-to-day and how we respond to the different challenges.

Headline-making successes may catch my eye, but if the story doesn’t elaborate on the process, I tune out.

Today’s premium story is about fintech firm Moneythor, the rare startup that has been bootstrapped, debt-free, and profitable since its inception. Obviously, this didn’t happen overnight.

Read on to find out more about the founders’ decades-long process to get to this point.

Today we look at:

• Why Moneythor prioritizes substance over pizzazz
• The Singapore consumer electronics resale platform that grew its revenue sixfold in a year
• Other newsy highlights such as Antler’s latest US$285 million fund and Sequoia Capital spinning off its India and Southeast Asia arm into a separate and fully independent unit

Premium summary

Slow and steady wins the profitability race

Image credit: Timmy Loen

In my life, I’ve had the privilege of being mentored – knowingly or not – by several different people on things as varied as writing or how to approach life. And one key takeaway from these experiences is that age is really just a number; I’ve learned a lot of life lessons from people younger than me, while others have shown me that old dogs are able to not only learn new tricks but be great at them.

I’m 32 years old, and I simultaneously feel old and young. I think that’s a good mental place to be in – experienced enough to be measured in everything I do, youthful enough to still want to try and do new things.

Moneythor’s co-founders must feel the same way, with how their careers have evolved over time.

• A storied history: Before establishing Moneythor in 2013, co-founders Olivier Berthier, Stéphane Nouy, and Thibault Weintraub had worked together as bankers. They also founded an internet banking firm called NEOMAlogic that focused on trade finance.
• Exposure can’t fill the rice bowl: Berthier says that Moneythor has “never done a free proof of concept” as the lack of payment from prospective clients usually translated to a lack of interest in the solution. This led to the company having revenue from its first year of business.
• Fruits of labor: The firm posted US$5.6 million in revenue and US$2.4 million in profit after tax for the financial year ending June 30, 2022.

Charging up to nearly 6x revenue growth

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