Even if you’ve never heard the term software as a service (SaaS), you are likely to make use of it on a regular basis. In today’s episode, John Gallagher explains where the concept of SaaS originated from and shares examples of both the consumer elements and the business-to-business elements of it. The SaaS industry is growing with speed, and the company John runs helps founders of software companies to expand their businesses through lending them capital. The company is called Element SaaS Finance, and John explains how their model of lending differs from the traditional venture capital model, and why it offers a much greater degree of sustainability. We also dig into why the company’s interest rates are quite high, why banks generally don’t like to lend money to SaaS companies, the due diligence that John makes sure to do before lending money, competitors to Element SaaS Finance, and one of John’s most important learnings through his years of experience in the space.
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