Local fintech startup Otterology emerges from beta, nails revenue

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OtterologyMinnesota startup Otterology has officially emerged from beta into a full-blown launch this month, according to founder and CEO Mark Lazarchic who says they have converted over 200 paying customers.

Otterology helps business owners make sense of whats happening from their Square POS through mobile management software with inventory control, transaction, and sales reporting.

Lazarchic says that their target number is 5,000 customers by the end of the year on Square alone, while lead developer Robert Speer is focused on extending to other mobile POS solutions such as Dwolla and PayPal Mobile, in addition to inevitable Quickbooks integration.

“As mobile payments continue to grow, we want to be the bridge,” explains CEO Mark Lazarchic.  “Last year 19m used mobile payments, by 2017 that number is projected to be over $90m.  This a niche that we will own.”

Otterology has raised $425k in seed capital from a variety of investors including Royal Street Investment (Utah), Rightside Capital (San Francisco), Two Bridges (South Dakota), with local angel investors Daren Cotter and Skyway Fund.

Comments

  • Robert Speer

    Thanks, glosses a lot of pain, but we’re accelerating for sure with the help of Geoff Wagner, an awesome (and he knows it) ETL Specialist, and Lisa Foote the most impressive Product Manager I’ve ever met.

  • Daren Cotter

    Congrats Mark & Team…keep it going!!

  • Rob Weber

    Congratulations on all the progress and momentum! Otterology looks like a great idea. I think the big challenge is going to be sales/marketing given the SMB marketing can be a tough one to crack.

  • Whit

    Great stuff! I’m so proud of these guys!

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