Waytobill’s 2023 in Numbers: A Year of Consistent Growth & Improvements

At Waytobill, we’re fully committed to our product's growth, success, and continuous improvement. Despite being a small and geographically dispersed team, we always take every chance to recognise and celebrate our achievements, whether large or small in scale. 

Let’s talk 2023 - it was a big deal for us, with significant milestones for our company and product. As a start-up, we're used to encountering occasional hiccups on our way but the ones found in 2023 have proven crucial in steering our growth and leading our path to success. Over the past twelve months, we've been tirelessly working on delivering seamless payment solutions for Nordic merchants from various sectors, including insurance, membership, and non-profit. Today, we’re spilling the beans on some of the things that went down at Waytobill in 2023. We’re especially excited to share this overview with our merchants, partners and supporters who have been integral to our journey since 2020. 

Let’s dive into fun facts, milestones, and noteworthy achievements of our small but mighty team!

1. Successful financial round

Undoubtedly, the biggest highlight of 2023 was the SEK 5.5m financial round we secured. The round was led by Wellstreet and joined by seasoned angel investors, including Micael Holmström. The financial influx has enabled us to focus our efforts on developing innovative payment solutions for the Nordic insurance sector as we work towards reaching break-even. 

Find out more about our financial round led by Wellstreet. 

2. We expanded to new markets 

In 2023, we successfully launched our product in Finland! Although the majority of our merchants are based in Sweden, we’re steadily penetrating Norwegian and now Finnish markets, revolutionising their payment processes and therefore helping them improve results.

3. We welcomed 20 new merchants

In 2023, we strategically shifted our focus from solely small organisations to also catering to medium and large enterprises. Although this change often results in a more extended decision-making process compared to smaller companies, this phase has proven invaluable in improving our understanding of our clients and their unique requirements. Over the past 12 months, we’ve proudly welcomed 20 new merchants into our Waytobill family, primarily from the insurance, charity, and membership sectors. 

4. Our tech team developed 36 major features 

Our developers have been busy bees in 2023, which led to the release of 36 major features, including Digital AvtaleGiro and digitally signed invoices in Finland. Moreover, our proudest achievement was the enhancement of Waytobill’s API, enabling merchants to use their current sales systems and CRMs to manage payments even more efficiently. Fun fact: our team finished 848 tickets in 2023 - pretty amazing!

5. 50 articles published on our blog 

In 2023, we published 50 blog posts with insights about payment solutions, ideas, tips, and real examples of how merchants leverage our solutions. Besides, we’ve been continuously working on updating our website so that it aligns with our ever-evolving product. 

Why not take a look at our blog to see some of the 50 articles? 

5. 4284 minutes spent in daily coffee meetings

As a remote team spread across three countries, we do our best to stay connected to each other. Our daily coffee meetings have become a crucial part of each working day where we meet to chat, laugh, share jokes, and often talk about the most random topics (did you know there’s potato milk?!). 

Jokes aside, our daily meetings help us get to know each other and build trust. Besides, in fully remote teams, it’s important to interact with team members, in order to ensure effective communication and efficiency are in place.

If we consider that each of the meetings lasts around 17 minutes (too much chitchat to close it at 15 minutes, although we try…), and there are 52 weeks with five working days, we deduct eight bank holidays on average, we come to 4284 minutes of casual conversation! That’s more than 71 hours, which is close to two weeks of full-time work. Maybe we shouldn’t have said that… 

6. We drank 6552 coffees during work hours

Last year, we fueled our brains and bodies with about 6500 cups of coffee! That’s a whole lot of caffeine-powered brainstorming, late-night grind sessions, and early-morning kick-starts. It kind of makes us think we should maybe open our own coffee shop! 

7. We had team meet-ups in Stockholm and Barcelona

We all love the company’s remote policy but once in a while, we like to see each other in real life. In 2023, we had two team meetings in Barcelona, while our marketing team also joined the International Social Summit at the Barcelona World Trade Center. We couldn’t miss a few in-person gatherings in Stockholm either, where we attended client meetings and various conferences.

That makes Albania our 2024 destination!

We’d like to take this opportunity to thank our clients, investors and partners for their continued support as we look forward to seeing what 2024 holds.