Listen Here

| |

Conversation
Highlights

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Thibaut Sahagian, Founder and CEO of Multis, a crypto finance management platform that has raised over $9 million in funding.

Most Interesting Points from Our Conversation:

  • Background and Inspiration: Thibaut’s journey into crypto began in the political arena, where he worked on fraud-resistant voting systems using Bitcoin. This early exposure to crypto, first as speculative assets and then as a tool for empowerment, led him to realize the potential of impermanent crypto as the foundation for Multis.
  • Vision for Multis: The company aims to empower Web Three builders by providing USD checking accounts, corporate cards, and Web Three financial tooling, focusing on making financial management seamless for entrepreneurs in the crypto space.
  • The Attraction to Crypto: Thibaut’s interest in crypto was sparked by its potential for greater good beyond mere financial gain. His early engagement with pioneers in the space and the realization that blockchain could serve B2B solutions significantly influenced his career path.
  • Challenges of Launching in a Bear Market: Starting Multis in 2019, during a bear market, presented skepticism from investors and the broader community due to previous crypto busts. Yet, Thibaut sees bear markets as opportune times for building foundational elements of a lasting business.
  • Focus on B2B Over B2C: Thibaut’s passion for working with founders and entrepreneurs drove Multis’ B2B focus. He believes that building relationships with other businesses provides a contagious energy and a more resilient model than B2C approaches.
  • Educating the Market: A significant challenge was educating potential users about Web Three and its benefits. Thibaut learned that needing to educate the market indicated a distance from product-market fit.
  • Future Vision: In five years, Thibaut envisions Multis as the financial backbone of the Web Three economy, setting the gold standard for Web Three companies looking to build and grow.
  • Approach to Traction: With around 300 users, including leading companies in the crypto space, Multis has focused on direct sales and building relationships with founders, prioritizing community feedback and engagement to refine their product.

Actionable
Takeaways

Put Everything Into One Niche:

Multis' focus on providing financial tools specifically for Web3 builders underlines the effectiveness of targeting niche markets. This approach allows for a deeper understanding of customer needs and the development of specialized solutions, establishing a strong foundation for growth.

The Importance of Timing in Market Entry:

Launching Multis during a bear market was a strategic decision that underscored the resilience and long-term vision required for startups. Founders should consider market conditions not just as challenges but as opportunities to build solidly and prepare for future growth phases.

Building B2B Relationships Is Key to Startup Success:

Thibaut's preference for the B2B model highlights the value of building relationships with other businesses. Engaging directly with your client base provides invaluable insights and feedback, fostering a product that truly meets market needs.

Educate Your Market Strategically:

The challenge of educating the market about new technologies or approaches should be seen as an indicator of your product's novelty but also as a sign to refine your market fit. Invest in education that aligns with demonstrating your product's direct benefits to your customers' operations, rather than broad market education efforts.

Recommended Founder
Interviews

Florian Wimmer

Co-Founder & CEO of Blockpit

Florian Wimmer, Co-Founder & CEO of Blockpit: $15 Million Raised to Power the Future of Crypto Tax Management

Julio Martínez

Co-Founder and CEO of Abacum

Julio Martínez, Co-Founder and CEO at Abacum: $40 Million Raised to Build the Future of FP&A

Olga Chin

CEO and Founder of InterPrice Technologies

Olga Chin, CEO and Founder of InterPrice Technologies: Over $10 Million Raised to Build the Future of Capital Markets Treasury Management

Ahmad Ibrahim

CEO of NeoTax

Ibrahim, CEO of NeoTax: $13 Million Raised to Build the Future of Tax Automation

Ben Goldin

CEO and Founder of Plumery

Ben Goldin, CEO and Founder of Plumery: $4.5 Million Raised to Power the Future of Digital Engagement for Banks

John Lunn

CEO and Founder of Gr4vy

John Lunn, CEO and Founder of Gr4vy: $27 Million Raised to Build the Future of Payments Infrastructure

Yasmin Graeml

Marketing & Communication Leader of Flourish Fi

Yasmin, Marketing & Communication Leader at Flourish Fi: Driving Financial Engagement with Innovative Tech

Jack McDonald

CEO of PolySign

Jack McDonald, CEO of PolySign: $50 Million Raised to Power the Future of Digital Assets

Patrick Mollard

CEO & Co-Founder of Fipto

Patrick Mollard, CEO & Co-Founder of Fipto: $16 Million Raised to Build the Future of Blockchain Payments

Fady Hawatmeh

Founder and CEO of Clockwork

Fady Hawatmeh, Founder and CEO of Clockwork: Nearly $3 Million Raised to Make Financial Modeling and Cash Flow Forecasting Easy

Daumantas Dvilinskas

CEO & Co-Founder of TransferGo

Daumantas Dvilinskas, CEO & Co-Founder of TransferGo: $125 Million Raised to Build the Future of Cross-Border Payments

Bob Suh

CEO of OnCorps

Bob Suh, CEO of OnCorps: $18M Raised to Help Large Financial Institutions Solve Operational Problems with AI

Wade Arnold

CEO and Founder of Moov

Wade Arnold, CEO and Founder of Moov: $77.5 Million Raised to Build the Future of Embedded Payments

Swapnil Shinde

CEO and Co-Founder of Zeni

Swapnil Shinde, CEO and Co-Founder of Zeni: $47+ Million Raised to Build the Finance Operations Category

Laura Kornhauser

Co-Founder and CEO of Stratyfy

Laura Kornhauser, Co-Founder and CEO at Stratyfy: $10 Million Raised to Power the Future of Financial Inclusion

Reed Switzer

CEO of Hopscotch

Reed Switzer, CEO of Hopscotch: $10M to Build the Future of B2B Payments For SMBs

Don Muir

CEO of Arc

Don Muir, CEO of Arc: Over $180 Million Raised to Empower Startups with a Better Cash Management Experience

Arik Shtilman

CEO of Rapyd

Arik Shtilman, Rapyd: $15 Billion Valuation (Unicorn Builders)

Steven Greene

CEO of Standard Practice

Steven Greene, CEO & Co-Founder of Standard Practice (Previously Nibble Health): $8 Million Raised to Bring the Fintech Revolution to the World Healthcare Payments

Shamir Karkal

Co-founder and CSO of Sila

Shamir Karkal, CEO of Sila: $20+ Million Raised to Build the Money API For Fintech

Iris Pfeifer

VP of Growth of Wisetack

Iris Pfeifer, VP of Growth at Wisetack: Mastering B2B Marketing Through Sales Alignment and Product Strategy

Rodney Reisdorf

Co-Founder & CEO of Co-Founder & CEO

Rodney Reisdorf, CEO of Verivend: $3 Million Raised Transform Private Capital Transactions

Jonas Overgaard

CEO of Anyday.io

Jonas Overgaard, CEO of Anyday.io: $4M Raised to Transform the Buy Now Pay Later Market

Sohaib Zahid

CEO and Co-Founder of Railz

Sohaib Zahid, CEO and Co-Founder of Railz: $15 Million Raised to Build to Accounting Data as a Service Category

Helen Chong

Head of Growth of Puzzle

Helen Chong, Head of Growth at Puzzle: Collaborating with Founders – Insights for Effective Marketing Alignment

Nik Talreja

CEO & Co-Founder of Sydecar

Nik Talreja, CEO & Co-Founder of Sydecar: Over $16 Million Raised to Make Venture Deal Execution a Frictionless Process

Kevin Hart

Founder and CEO of Green Check Verified

Kevin Hart, Founder and CEO of Green Check Verified: $16 Million Raised to Power the Future of the Cannabis Business

Rafael Loureiro

CEO of Wealth

Rafael Loureiro, CEO of Wealth: $16 Million Raised to Build the Future of Estate Planning

Ron Benegbi

CEO & Founder of Uplinq

Ron Benegbi, CEO & Founder at Uplinq: Over $5 Million Raised to Transform SMB Lender’s Existing Credit Evaluation Process

Daniel Grunstein

CEO and Co-Founder of Crowded

Daniel Grunstein, CEO and Co-Founder of Crowded: $6.4 Million Raised to Transform Nonprofit Financial Management

Colin Luce

CEO & Co-Founder of Basis Theory

Colin Luce, CEO & Co-Founder of Basis Theory: $20 Million Raised to Build the Future of Payments Tokenization

Ankit Ratan

Co-Founder and CEO of Signzy

Ankit Ratan, Co-Founder and CEO of Signzy: Over $38 Million Raised to Build the Future of Digital Onboarding Infrastructure

Magali Chapuis

Marketing Manager of Embat

Magali Chapuis, Marketing Manager of Embat: Strategic Insights for Scaling Fintech Marketing Across Borders

Scott Dorey

Co-Founder of OpenPath

Scott Dorey, Co-Founder of OpenPath: $25 Million Raised to Build the Future of Payments

Ben Borodach

Co-Founder and CEO of April

Ben Borodach, Co-Founder and CEO of April: $40 Million Raised to Embed Intelligent Tax Experiences

Kalpesh Kapadia

CEO and Founder of Deserve

Kalpesh Kapadia, CEO and Founder of Deserve: $50 Million Raised to Build the Future of Credit Cards

Stephany Kirkpatrick

CEO and Founder of Orum

Stephany Kirkpatrick, CEO and Founder of Orum: Over $85 Million Raised to Build an API integration for Instant Payouts

Eric Velasquez Frenkiel

Founder and CEO of Pomelo

Eric Velasquez Frenkiel, CEO of Pomelo: $70 Million Raised to Build the Future of Remittance

Steve Pomfret

Steve Pomfret, CEO & Founder of Cygnetise: $8 Million Raised to Build the Future of Signatory Management

Brendan Playford

CEO of Pngme

Brendan Playford, CEO of Pngme: $18 Million Raised to Support Financial Inclusivity and Unlock Economic Potential Across the Developing World

Jeremy Almond

CEO & Founder of Paystand

Jeremy Almond, CEO & Founder of Paystand: $100M Raised to Power the Future of B2B Payments

Dan Beck

Dan Beck, CEO & Co-Founder of 401GO: $14 Million Raised to Build the Future of Retirement Benefits for Small Businesses

Felix Rodriguez

CEO & Founder of Finally

Felix Rodriguez, CEO & Founder of Finally: $110 Million Raised to Power the Future of Finance Automation

Brian King

CEO of LODAS Markets

Brian King, CEO of LODAS Markets: $8.5 Million Raised to Power the Future of Alternative Investments