#115: The SaaS Startup Success Where "Build It And They Will Come" Actually Worked – Quickli

#115: The SaaS Startup Success Where "Build It And They Will Come" Actually Worked – Quickli

Author: Greg Head October 18, 2024 Duration: 1:00:12

Eric Dill was a successful mortgage broker in Sydney, Australia, who struggled with the same painful problem as every other broker: manually checking with multiple banks to validate and price mortgages for homeowners. Eric and his good friend Angus Keatinge resolved to create a software product to solve this complicated and chronic problem.

Quickli was launched in late 2021 and it immediately gained happy customers and fans without any proactive marketing or sales. Three years later, more than 10,000 mortgage brokers use Quickli every week—that's over 50% market share. Quickli has AUD $5 million in ARR with 40 employees.

This is an amazing story of two product-focused entrepreneurs who solved a difficult problem and grew a successful software company without any outside funding. Quickli still has almost no marketing staff and no salespeople. Most of their employees are engineers working on the product and customer service.

Quote from Eric Dill, cofounder and co-CEO of Quickli

"We just cracked the $5 million ARR figure in just three years, which is a big milestone for us. We have 10,000 brokers on the platform, which is over 50% of the total market in Australia. We also have 40 employees, mostly in engineering.

"It's been very, very much a story of product-led growth. Our product completely solves the biggest problem that every broker has every day. No other product has solved it. Brokers have been telling each other about Quickli, and we have some really big fans. It's a very tight community of brokers who help each other.

'How lucky did we get? Because we didn't do anything. Almost marketing and no sales. We have a website. To say we have half a marketing person feels like an overstatement because we have a customer service person who also does some marketing on the side for us."

Links

Podcast Sponsor – Cypress Growth Capital

This week's podcast is sponsored by my friends at Cypress Growth Capital. For 15 years, Cypress has provided non-dilutive growth funding to bootstrapped SaaS founders, including many successful founders I've interviewed here on this podcast.

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Greg Head hosts the Practical Founders Podcast, a series dedicated to the often-overlooked builders in the technology and business landscape. Each week, the conversation focuses squarely on founders who have successfully scaled their software companies through means other than massive venture capital. You'll hear detailed, candid stories about bootstrapping, profitable growth, and the strategic choices that define a sustainable enterprise. These interviews dig into the real work of building a valuable company-the early decisions, the pivotal mistakes, the practical systems, and the personal resilience required. It’s for entrepreneurs and operators who are more interested in durable ownership and practical execution than in hype or fundraising rounds. By focusing on firsthand experiences, this podcast provides a grounded perspective on entrepreneurship. Listeners gain actionable insights and honest reflections from leaders who have navigated the complexities of building a business on their own terms. The discussions are in-depth and specific, offering a valuable resource for anyone looking to understand the tangible realities of creating a technology company without relying on external funding. This is where the conversation moves beyond theory into the applied lessons of proven founders.
Author: Language: English Episodes: 100

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