Background
We first learned about MyPandaApp.com during the 2020 Lunchpad2X Cohort. MyPanda is like the Uber of personal assistants, which meant the team was constantly battling complex cash flow dynamics and a high volume of daily transactions.
Keeping an accurate record of all that data could have been a full-time job on its own, pulling focus away from running and scaling the business.
The Challenge
MyPanda ran on multiple revenue streams and multiple payment flows that weren't reflected in its existing financials. The technology and platforms in use were overwhelming because of the sheer volume and complexity of the data.
On top of that, Tamara was raising capital, so a credible, fundraising-ready financial model was essential, not optional.
The Approach
Cypher worked step by step to understand the business, restructure its finances, and turn raw transaction data into decision-ready insight.
- ✓Met with Tamara and her team to understand their pain points and their struggle with overwhelming, complex data across heavy technology platforms.
- ✓Took a deep dive into the MyPanda business model and uncovered multiple revenue streams and payment flows that weren't reflected in the current financials.
- ✓Rebuilt the chart of accounts around those revenue streams and cost accounts, defining revenue recognition, COGS categorization, and potential accruals, backed by market research to confirm the TAM and benchmark KPIs.
- ✓Cleaned up the data through detailed financial analysis to untangle the different flows and cash dynamics.
- ✓Designed customized financial reporting and KPIs built from the Stripe payment-gateway metadata.
Custom KPIs We Built
The financial reports were great, but these KPIs were the real game changer, giving Tamara a clear view of customer behavior and unit economics.
- ✓KPIs per new customer
- ✓KPIs per repeat customer
- ✓Customer acquisition cost (CAC)
- ✓Average transaction value (ATV)
- ✓Expected lifetime value (LTV)
- ✓Monthly revenue margins
- ✓Number of app downloads
The Financial Model
Because Tamara was raising capital, we helped her build a financial model that laid out the hiring plans and revenue growth. We determined the goals, milestones, and fundraising plans together, and reviewed the pitch deck to make sure the financial projections were aligned.
With those KPIs, the founder could see which customers are likely to buy more, which are one-time buyers, and which services perform best, insight that helped Tamara refine marketing strategies and improve service quality to drive revenue.
"The financial reports were great, but these KPIs were a game changer. With them, the founder can see which customers are likely to buy more, which are one-time buyers, and which services work best."
The Result
MyPanda is hitting its monthly revenue goals, and Tamara has the clarity she needs to raise capital and take the steps to scale.
By the end of 2021, MyPanda had achieved incredible growth of 148.31%, reaching a total monthly revenue of 14,824 with 85% repeat customers. In 2022, MyPanda was admitted to Techstars and is well on its way to the moon. We look forward to much more success for MyPanda.