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founderpath.com · newsletter
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It's Nathan.
I'm looking at the new vertical SaaS insights from Stripe.
More than 16,000 software platforms run on Stripe, so when they publish data on what's working, it comes from one of the largest samples in SaaS.
Numbers that called my attention:
AI is pushing platforms to expand beyond software.
Screenshot 2026-06-03 at 5.09.32 PM
Platforms that embed financial products see 11% lower annual churn
Those running a multiproduct strategy grow revenue 49% faster than software-only peers
Median payments adoption jumped from 27% in 2024 to 40% in 2025
The pattern: vertical SaaS companies pulling ahead are adding financial products on top of the software.
One example: theCut, a booking app for barbers, followed this playbook.
They got capital and used it to offer financing to the barbers on their platform. Within 24 hours of sending offers, 167 barbers accepted funding.
Two smart moves from the Cut in this case:
Funded growth with debt (instead of going to a VC again)
Grew by adding a new revenue line their customers already want
The second is a tactic many SaaS founders can't use, especially B2B. Because adding a new product line costs money.
The default for B2B SaaS founders is to raise a VC round to fund the buildout.
But there's an alternative to build something that makes money without a VC: non-dilutive capital.
It does the same job for the cost of interest.
You can borrow against the revenue you have, ship the new line, and keep every point of equity.
Stripe's data shows where vertical SaaS is heading.
Regardless of your industry, you can fund the next product line out of your own revenue and keep the equity instead of selling it to build a feature.
Badger Maps, a route planning platform for field sales teams, did this.
The deal:
Size: $4.2m total, $2.8m at start, ~$1.2m second tranche on milestones
Interest-only period: 2 years
Warrants: none
End fees: none
Lowest all-in cost once every competing fee was modeled side by side
We wired fast and took no equity from the company.
If you're at $1m+ in revenue, and looking to fund your next product line, why don't you take my money?
Send me a reply and I'll try to answer in the next hour.
(I usually reply to the first 5 founders who contact me after sending the email).
If I don't get back to you, you can get a term sheet in 2 minutes here.
Nathan Latka
CEO, Founderpath
PS: Check all our funding options for your SaaS here: https://founderpath.com/
PPS: Bookmark this page to stay tuned on the biggest SaaS events coming up: https://founderpath.com/events/saas (you can also apply to list your own event).
saas-events
Speaking of events...
I'm speaking about 9 tactics to use AI and media to add $5m revenue fast. It's a free live Zoom training (we hit capacity at 150 registrations!).
>> Save your free spot here
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Founderpath, 815A Brazos Street, , Austin,TX,78701,USA,(210) 718-8920
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