On this episode of The SaaS CFO Podcast, host Ben Murray welcomes Luca Cartechini, co-founder and CEO of Shop Circle. With deep roots in equity research and venture capital across the European tech landscape, Luca Cartechini shares how his experiences led to the creation of Shop Circle—an innovative, long-term holding company that acquires and grows mission-critical, profitable SaaS businesses outside the traditional VC and PE model. 

Listeners will get insider perspectives on the realities of scaling software companies in fragmented European markets, the metrics that matter most when evaluating SaaS acquisitions, and the evolving role of AI in operational excellence. Whether you’re a founder considering your next move or simply passionate about SaaS, this episode is packed with actionable wisdom on building, buying, and holding vertical software companies for the long haul. 

Show Notes: 

00:00 "Challenges Scaling European Companies" 

03:34 "ShopCircle: AI-Powered Software Platform" 

08:51 "AI in Software Acquisitions" 

12:06 AI's Role in Business Strategy 

14:09 "Pricing, AI, and Value Strategy" 

16:58 "Key Metrics for Business Acquisition" 

22:28 "Operator-Focused, Long-Term Investment Approach" 

25:13 Founder Missteps in Acquisition Process 

29:28 Recurring vs. Usage-Based Revenue Analysis 

31:51 "SaaS Revenue Analysis for ROI" 

36:39 AI-Driven Efficiency and Expansion 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/shop-circle-raises-60-million-in-series-b 

https://www.thesaasnews.com/news/shop-circle-extends-series-b-to-100-million 

Luca Cartechini’s LinkedIn: https://www.linkedin.com/in/luca-cartechini/ 

Shop Circle’s LinkedIn: https://www.linkedin.com/company/shop-circle/ 

Shop Circle’s Website: https://shopcircle.co/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

On this episode of The SaaS CFO Podcast, host Ben Murray welcomes Ben Winter, co-founder and COO at Stuut. Ben Winter brings a dynamic background in management consulting, design agencies, and executive leadership roles within scaling SaaS companies. He shares the story behind founding Stuut—an AI-powered platform designed to transform the order-to-cash process for businesses where working capital and collection efficiency are essential. 

Ben Winter reveals how Stuut’s AI agents streamline everything from invoice communication to payment collection, targeting verticals like manufacturing, logistics, and medical devices that rely on fast cash cycles. The discussion delves into Stuut’s journey—from early customer pain points to rapid fundraising, the importance of founder–investor alignment, and their innovative approach to go-to-market and brand differentiation in the crowded finance technology space. 

Listen in for actionable insights on SaaS metrics, building AI-driven solutions, and lessons learned in scaling an operationally efficient company—straight from a COO who’s at the forefront of fintech innovation. 

Show Notes: 

00:00 "Automating AR with AI" 

05:19 "Optimizing Cash Flow for Growth" 

07:11 Evolving CFO Strategies for Collections 

12:34 "Delivering Value to Customers" 

16:25 In-Person Impact and Clear Value 

19:14 "Non-Traditional Marketing Strategies" 

21:16 "Digital Coworkers for Collections Teams" 

24:09 "AP & AR Strategy Insights" 

29:57 "Scaling Efficiently with AI" 

31:28 "Rethinking Team Structures Efficiently" 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/stuut-technologies-raises-29-5m-series-a 

Ben Winter’s LinkedIn: https://www.linkedin.com/in/bengwinter/ 

Stuut’s LinkedIn: https://www.linkedin.com/company/stuut/ 

Stuut’s Website: https://www.stuut.ai/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Vadim Rogovskiy, CEO and co-founder of Eve, an AI-powered sales enablement tool designed specifically for founders and small business owners. Vadim Rogovskiy shares his unique journey as a serial entrepreneur—from selling and exiting previous startups to launching Eve after discovering the challenges small businesses face managing leads without traditional CRMs. 

Together, Ben Murray and Vadim Rogovskiy dive into Eve’s early days, its customer-first approach, the founding story, and how AI is transforming sales for SMBs. You’ll hear insights on fundraising in today’s fast-moving AI market, lessons learned across multiple ventures, and how grassroots, founder-led marketing is key in cutting through industry noise. Whether you’re scaling your SaaS startup or curious about AI’s impact on modern sales and revenue models, this episode is packed with real-world advice and thoughtful analysis on building and growing a successful tech company. 

Let’s jump into the conversation! 

Show Notes: 

00:00 "Building EVE from Event Insights" 

03:09 "Startup CRM Challenges and Demand" 

08:59 "Sustainable Growth Over Hype" 

10:46 "Prioritize IRL and Founder-Led Growth" 

14:27 "Founder Discusses Early Fundraising Journey" 

18:10 "Qualitative KPIs and User Growth" 

20:53 "Achieving Product Market Fit" 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/eve-raises-2-million-in-pre-seed-round 

Vadim Rogovskiy’s LinkedIn: https://www.linkedin.com/in/vadim-rogovskiy/ 

Eve AI’s LinkedIn: https://www.linkedin.com/company/joineveai/ 

Eve AI’s Website: https://joineve.ai/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome to The SaaS CFO Podcast! In today's episode, Ben Murray sits down with Tony Petrilli, CEO of ViewTrade, to uncover the journey behind building a global fintech platform that’s redefining cross-border financial services. From writing code on early PCs to leading innovation at major institutions like Morgan Stanley and Citibank, Tony Petrilli shares how ViewTrade evolved from a brokerage into a full-stack SaaS provider serving 300 firms worldwide. 

You'll hear candid insights about bootstrapping a complex product, the realities of scaling and global expansion, and the reasoning behind a customer-led, composable solution instead of a rigid, product-led approach. Plus, he reveals how ViewTrade balances profitability, growth, and innovation—including the strategic use of AI—and what’s next on the horizon as they target nine-digit growth. 

Whether you’re a SaaS founder, finance exec, or just curious about how technology is transforming financial services, this episode is packed with valuable lessons, operational metrics, and entrepreneurial wisdom. Let’s dive in! 

Show Notes: 

00:00 "Turnkey Cross-Border Financial Solutions" 

03:57 "Modernizing Investment with Embedded Solutions" 

07:07 Revolutionizing Financial Firms' Efficiency 

12:15 "Customer-Led Solutions Drive Inbound" 

15:15 "Fintech Sustainability and Responsibility" 

18:35 "Starting Small, Scaling Strategically" 

19:47 "CEO's Profit Margin Focus" 

22:33 "Building Leaders and Expanding Globally" 

25:38 Global Expansion and Wealth Ventures 

Links: 

Tony Petrilli’s LinkedIn: https://www.linkedin.com/in/anthony-tony-petrilli-a2b59825/ 

ViewTrade’s LinkedIn: https://www.linkedin.com/company/viewtrade-holding/ 

ViewTrade’s Website: https://www.viewtrade.com/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

On this episode of The SaaS CFO Podcast, Ben Murray welcomes Nick Holzherr, serial tech founder and the driving force behind GitLaw—an innovative AI-powered legal platform. Nick Holzherr shares his entrepreneurial journey, from exiting previous ventures like Whisk and Air HR, to launching GitLaw earlier this year with $3 million in backing.  

The conversation goes deep into the frustrations of traditional legal services, how GitLaw leverages trusted templates and advanced AI orchestration for SMBs, and what sets their product apart from simply using ChatGPT for contracts. You'll hear about go-to-market growth loops, the challenges of scaling in the rapidly evolving AI landscape, and Nick Holzherr's focus on building a product that customers love and trust.  

Whether you're interested in SaaS metrics, team dynamics, or the future of AI in legal tech, this episode is packed with insights from a founder who's in the thick of it. 

Show Notes: 

00:00 "Revolutionizing Legal Services with AI" 

04:09 "Contract Review and Market Standards" 

09:10 "Building Success with Trusted Team" 

11:45 AI-Powered Legal Document Collaboration 

15:19 "Startup Uncertainty Amid Rapid Growth" 

18:35 "Challenges in Marketing Metrics Transparency" 

21:24 Retention and User Feedback Focus 

22:51 "Balancing SaaS Margins and Costs" 

26:33 "Making AI Trustworthy and Useful" 

29:03 Git.law Service Overview 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/gitlaw-raises-3-million-in-funding 

Nick Holzherr’s LinkedIn: https://www.linkedin.com/in/nickholzherr/ 

GitLaw’s LinkedIn: https://www.linkedin.com/company/gitlawco/ 

GitLaw’s Website: https://git.law/ 

To learn more about Ben check out the links below:

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome back to The SaaS CFO Podcast! In this episode, we're excited to welcome Nicolas Christiaen, CEO and co-founder of Donna, the AI assistant revolutionizing the lives of field sales teams. Ben Murray sits down with Nicolas Christiaen (introduced as Nicolas in the episode) to dive into Donna's journey from inception in late 2023 to its rapid growth and latest $5 million seed round. You'll hear how Donna leverages AI to boost sales rep productivity, seamlessly integrates with CRMs, and is gaining traction across verticals like medical devices, CPG, manufacturing, and insurance. 

Nicolas Christiaen reveals their data-driven approach to finding ideal customer segments, lessons learned from fast-paced fundraising, and why partnerships with global consulting firms like Deloitte and PwC are fueling their go-to-market strategy. If you’re keen to learn about what’s driving growth for AI-powered SaaS, how to balance vertical focus, and why healthy SaaS margins are still possible with AI, this conversation is packed with insights you won’t want to miss. Tune in to find out how Donna is scaling up in 2026 and what’s next for this ambitious SaaS startup! 

Show Notes: 

00:00 "Sales, Efficiency, and Acquisition" 

05:05 "Adapting AI for Industry Needs" 

06:45 "24/7 AI Assistant Support" 

10:14 "Global Launch Leads to Growth" 

14:59 "Early Success with Partners" 

19:18 "Outbound Strategy with Multi-Channel Approach" 

22:08 AI Costs Will Decrease Over Time 

23:50 AI Companies Will Streamline Operations 

Links: 

Nicolas Christiaen’s LinkedIn: https://www.linkedin.com/in/nicolaschristiaen/ 

Donna’s LinkedIn: https://www.linkedin.com/company/donna-by-dealside 

Donna’s Website: https://www.askdonna.com/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

On this episode of The SaaS CFO Podcast, host Ben Murray sits down with Nitin Mahajan, founder of Quick Ads. With an impressive background spanning engineering, strategy, and consulting at firms like McKinsey and Accenture, Nitin Mahajan shares the story behind Quick Ads—a platform set to revolutionize advertising for small and medium businesses using AI and proprietary data.  

The conversation dives into the challenges these businesses face, the evolution of ad tech, and Quick Ads’ unique approach of combining software and services with an outcome-based pricing model. Nitin Mahajan also opens up about the company’s capital-efficient journey, fundraising, and their mission to create a visual system of record for marketing teams, all while keeping growth and profitability in sharp focus.  

Whether you’re a SaaS founder or just fascinated by the future of digital marketing, this episode is packed with insights you won’t want to miss. 

Show Notes:  

00:00 Ad Inefficiency and Modern Challenges 

06:12 "Choosing Your Business Growth Path" 

07:56 "Data-Driven AI, Not Software" 

11:10 "Future of Software in AI" 

13:33 "Quick Ads Info and Insights" 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/quickads-raises-1-7-million-seed-round 

Nitin Mahajan’s LinkedIn: https://www.linkedin.com/in/nitinmahajan2/ 

QuickAds’ LinkedIn: https://www.linkedin.com/company/quickads-ai/ 

QuickAds’ Website: https://www.quickads.ai/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome to this episode of The SaaS CFO Podcast! Today, Ben Murray sits down with Michael Babineau, co-founder of Turnstile, to unpack the journey from software engineer to successful second-time founder. Michael Babineau shares how his engineering background and the exit of his first company, Second Measure, to Bloomberg helped shape the vision for Turnstile—a next-gen, AI-native quote-to-cash platform designed to handle the complex challenges of sales-led, recurring revenue businesses. 

In this candid conversation, Michael Babineau dives into lessons learned from scaling and selling a company, the difficulties of automating revenue processes for custom deals, and why building a truly integrated, flexible system is crucial for SaaS companies looking to grow. You’ll also hear insights into Turnstile’s go-to-market strategy, their unique pricing approach, and what it’s really like to raise capital as a second-time founder. 

Whether you’re a SaaS operator, CFO, or founder plotting your next move, this episode is packed with operational tips, market observations, and behind-the-scenes stories that you won’t want to miss! 

Show Notes: 

00:00 "Founders Ready to Start Again" 

03:05 "Turnstile: Unified Revenue Management Platform" 

07:12 Turnstile: CRM-ERP Integration Simplified 

11:38 "Finding True Revenue Ground Truth" 

13:15 "Venture Growth Through Mid-Market" 

17:29 "Scalable Growth for Enterprise Success" 

22:09 "M&A Process: All-Consuming Commitment" 

24:08 Flexible Dealmaking for Company Growth 

27:47 "Shifting to Marketing-Led Growth" 

31:35 "Self-Serve Enterprise Software Simplified" 

33:00 "Driving Growth for B2B Startups" 

36:34 "Turnstile AI Discussion" 

Links:  

Michael Babineau’s LinkedIn: https://www.linkedin.com/in/mbabineau/ 

Turnstile’s LinkedIn: https://www.linkedin.com/company/turnstile-co/ 

Turnstile’s Website: https://turnstile.ai/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome back to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Rafael Broshi, co-founder and CEO of Notch, to explore the journey from early startup ideas through pivotal transformations in the world of SaaS and AI. Rafael Broshi shares his unique career path—from years in the Israeli army to product management, hedge funds, and now leading a cutting-edge AI company revolutionizing customer experience in the insurance industry. 

You'll hear firsthand how Notch evolved from an insurance-focused MGA into a powerful AI agent platform for customer support, what drove their bold pivot, and why focusing on outcome-based pricing and measurable ROI is making waves for their global clients. Rafael Broshi offers invaluable insights on making hard decisions, raising capital, and what it takes to stand out in an ultra-competitive AI-driven SaaS market. If you're a SaaS founder, operator, or just fascinated by the future of AI in business, this episode is packed with lessons, metrics, and real-world advice you can’t afford to miss. 

Show Notes: 

00:00 Startup Challenges and Strategic Decisions 

03:55 AI Platform for Customer Support Automation 

09:05 AI Deployment in Insurance Industry 

11:42 "Pivoting, Frugality, and Profitability" 

15:17 "AI, Pivots, and New Beginnings" 

17:26 "Strategic Focus on Market Verticals" 

21:04 Outcome-Based Pricing Strategy 

26:47 "Future of AI Pricing" 

27:55 Automated Conversations Drive Growth 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/notch-cx-raises-7-million-in-seed-round 

Rafael Broshi’s LinkedIn: https://www.linkedin.com/in/rafael-broshi-435a77105/ 

Notch’s LinkedIn: https://www.linkedin.com/company/notchapp/ 

Notch’s Website: https://www.notch.cx/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome back to The SaaS CFO Podcast! In this special end-of-year episode, host Ben Murray is joined for the third time by Jim Williams, Managing Director at GLC Advisors, for an in-depth update on the state of the software M&A and capital markets. Ben Murray and Jim Williams dive into what's really happening in SaaS dealmaking, cutting through the social media noise to explore trends in deal volume, valuations, and what truly makes a quality asset in today’s market. 

They discuss why 2025 felt “steady but not spectacular,” how founders can position their businesses for attractive outcomes, and the continued importance of the fundamentals—think retention, growth, and profitability. Jim Williams shares what buyers are looking for, why clean financials and clear revenue models are deal breakers, and what to expect if you’re planning to sell in the near future. Plus, they touch on timely topics like the shifting impact of AI, earnouts, deal structures, and preparing for due diligence. 

Whether you’re a SaaS founder, CFO, or simply want a no-nonsense perspective on the M&A environment, this episode is packed with actionable insights and predictions for 2026—straight from the front lines of the software dealmaking world. Let’s jump in! 

Show Notes: 

00:00 "2025: Steady Market Trends" 

03:33 "Deferred Deals and Future Growth" 

08:38 "Evaluating Business Revenue Models" 

10:55 Evaluating Recurring Revenue Quality 

15:55 "Contextualizing Seasonal Business Metrics" 

19:10 Renewal Rate and Visibility Challenges 

20:50 "Clarity in Business Value Proposition" 

23:17 "Misaligned Business Metrics Unveiled" 

28:33 "Platform vs. Add-On Trends" 

32:46 "Fair Earnouts and Deal Terms" 

35:55 Equity Rollover and Founder Involvement 

39:19 "Deal Delays and Due Diligence" 

41:53 "Preparing Financials for SaaS Market" 

45:45 Strategic vs. Sponsor Buyer Perspectives 

50:25 "Achieving Product-Market Fit Fundamentals" 

51:41 "Early-Stage Funding Uncertainty" 

55:25 "Open, Accessible, and Supportive" 

Links: 

Jim Williams LinkedIn: https://www.linkedin.com/in/james-williams-5754953/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray