Operating out of Fishbowl Labs, the DC-based Mhelpdesk recently entered into a partnership with the payment processing software company Stripe. Mhelpdesk handles invoicing for small businesses, but their rapid growth spawned a need for an efficient way to accept payments.
This partnership comes at a crucial time for Ryan Shank, COO, and the rest of the team as they recently transacted over $75 million in invoices through their field service management software. Stripe handles everything for Mhelpdesk now, including storing credit cards, payment subscriptions, and direct payouts to bank accounts.
While PayPal and Authorize exist in the same market sphere, Stripe is the clear winner in the eyes of Mhelpdesk. They all have the same end goal of paying customers, but Stripe does it noticeably faster and with no added fees.
“I honestly did not feel comfortable recommending Authorize to our customers,” says Shank. “The fees and hassles associated with it were too much to deal with.”
The all-in-one Mhelpdesk app was designed specifically to give small business clients complete visibility over their work orders, technicians, scheduling, and billing. They invoice their customers using Mhelpdesk, and Stripe’s software handles the payments efficiently.
Shank and the team bootstrapped all of their funding and nailed their product down before taking it to market. To date, the growth behind their app has been purely organic, and Shank believes that if they keep hitting sales numbers, they may not need VC funding at all.
One of the biggest motivations for Mhelpdesk as they move forward is not having any one person to answer to, but rather unifying as a team to decide the best course of action. And besides, they already answer to a boss: their small business customers.