Show notes
Finding and talking to your potential customers and discovering product market fit is one of the biggest challenges facing new startups, but our guest today Omri Mor, co-founder and CEO of Routable.com found joy in that process. Over the course of 9 months, Omri and his co-founder visited over 170 companies and held over 350 conversations around the pain point of B2B payments. What they learned allowed them to successfully apply to Y Combinator without a working MVP, and find early traction with large customers.Omri’s Background:Omri Mor is a serial founder, previously founding Down App, Inc. and Ziibra. Omri completed his bachelor’s at University of Washington.With over 35 years of experience working with founders, it probably comes as no surprise to hear that all they do is work to support the needs of entrepreneurs and their investors. Silicon Valley Bank understands the questions that can keep founders up at night.The team in Canada that includes Shez Samji, Managing Director and Head of Biz Dev, has been a breath of fresh air for the Canadian startup ecosystem. With a team of experts dedicated to supporting Canadian startups, SVB has been providing not only financial services to innovative companies like ours at Ripple Ventures but also at the fund level for ourselves and our LPs. Shez and his team are also helping build connections to potential partners through introductions and events, research, and insights, and helping leverage their full SVB platform to help our founders succeed globally. With such a rich history as Silicon Valley's banking partner for some of the top tech companies in the world, it’s no surprise that we have decided to partner with SVB Canada at Tank Talks so other founders and entrepreneurs can benefit from the incredible products and services SVB offers. Listeners of Tank Talks can get set up with an intro meeting with one of SVB Canada’s team members by visiting svb.com/Canada and mentioning "Tank Talks" to get set up today. Find out more at svb.com/CanadaTopics we discussed:03:38 What lead Omri to B2B payments06:03 What he discovered to realize that making a better system for B2B payments was possible09:13 How complex business payments really are10:00 How companies use internal resources to solve problems10:50 Omri’s extensive research processes and the reason behind it14:50 Why interviews were more important than live testing17:06 How Routable got into YC without an MVP or other traditional metrics19:03 What their YC experience was like22:14 How Routable thinks about integrations25:12 Securing large partnerships27:13 Ticketmaster case study29:22 How Routable saves customers up to 70% on bookkeeping31:30 Literally licking envelopes for ReMax to learn about their payment process32:38 The TAM for Routable33:45 Data and analytics and the benefits of building manual reports36:47 Omri’s pragmatic approach to crypto and real time payments40:31 Routable’s competition42:16 Discussing Routable’s $30M Series B round and it’s futureOmri’s Favorite PodcastBill SimmonsOmri’s Favorite BlogHis InboxOmri’s Favorite Tech GadgetPowerbeats ProOmri’s Favorite New TrendGen Z’s discussion about money and FinTechOmri’s Favorite BookAcross The Nightingale Floor by Lian HearnFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com
