Metric
By MetricMetric has built the Chief Financial AI for business owners in emerging and growth markets. This is an AI agent trained on USD 4 Billion worth of Metric’s own transactional data coming from 130,000 businesses across 190 countries, and sits on top of Metric’s flagship financial analytics app. The CF-AI is not only able to answer questions relating to one's own business, over time it is able to give sectoral and regional benchmarks, empowering business owners to take real-time data-driven decisions.
- Stage
- In production
- Industries
- Banking and finance
- Deployment
- Cloud (SaaS)
Why it is worth it
Metric is the market leader currently in the region as a financial intelligence fintech play in terms of sheer numbers of users and total transaction volume. Our competitors are all focused on the accounting angle, building either a quickbooks style accounting platform or creating a tech-enabled services business like pilot.com. Metric is integrating with all accounting platforms (quickbooks, xero, zoho, freshbooks, wafeq etc) to become the layer on top, instead of making users shift platforms. Our Chief Financial AI is in alpha roll out, with 1300 businesses signed up for early access already. None of the regional solutions currently have an AI agent ready and live.
- Across the globe, especially in emerging economies, business owners take business decisions daily based on gut feel and anecdotal evidence. This is because traditional accounting is made for accountants and regulators, not business owners or business growth.
- Accounting and financial statements are almost useless for business owners because they can't read them or understand it, they need simple and direct metrics that will result in them taking better decisions
- Accountants speak a different language from the business owner, and the business owner finds it very difficult to understand what the accountant (and thus numbers) are saying. Even if an accountant is able to give the metrics that a business needs, these numbers are not real time. An accountant usually gives financial statements 15-30 days after the last month, making this information already outdated and old.
- Business owners thus end up never using their own numbers to make decisions, instead taking decisions based on gut feel, vibes, and random advice. These decisions end up majorly being incorrect, leaving growth and money on the table.
- Metric helps business owners understand their own numbers and benchmark against regional and sectoral metrics, by aggregating scattered financial data into one simple platform, connected to our AI agent, which acts as the Chief Financial AI for business owners. Business owners are able to ask questions in any language, and get real-time feedback and answers. No more having to wait for an accountant to respond, or to attempt to read complex financial statements. Metric’s CFAI is able to build forecasts in seconds, and over time also offers sectoral and regional trends, allowing business owners to benchmark their growth against the market.
- Metric thus directly impacts the longevity of these businesses, helping business owners make better decisions.
Opening the deck…
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Best customer profile
The segment we are going after are small and medium-sized traditional businesses, as well as startups. Top sectors include F&B and ecommerce, followed by tech businesses.
Notable paying customers
- Metric is a global and passportable product specifically made for SMEs in the emerging markets. Our virality is a testament to that, with thousands of businesses across 30 countries using us organically in less than a month. Today Metric is being used by 130,000 businesses in over 190 countries. Metric has been able to secure patronage from a high-profile regional family ( MENA), including getting them on their board. Through this relationship, Metric is being introduced to UAE SME authorities, ministries and programs that will reduce customer acquisition costs further, allowing them to penetrate further into UAE before doing the same for other MENA countries. Metric organically has 10,000+ businesses from the UAE on the app, with 55% of their total in-app GTV coming from the country.
Metric has been used by 130,000 businesses across 190 countries. Our GTV is US$4B, and ARR is US$250K. Metric is backed by prominent regional and global investors such as 500Sanabil, Hub71, Plus VC, Outliers VC, and Ratio Ventures, along with strategic angels and syndicates totaling to over US$2 million till date. Metric has also launched its own Chief Financial AI, "Max," built on proprietary data to power its AI product. Currently in closed Alpha, Max acts as an in-app micro-advisor for business owners. Metric’s web and mobile apps integrate with accounting systems, banks, and platforms like Shopify, aggregating fragmented financial data to instantly deliver business metrics and reports. This enables Max to answer questions related to business performance, growth, and projections. Additionally, Max benchmarks markets and sectors, offering sectoral insights and metrics that are not available elsewhere. Metric has also launched their Saudi app, including an Arabic version, where they already have a 1000+ businesses on board. Top five countries include Pakistan, UAE, Egypt, Nigeria and Nepal. Metric plans to move into the payments and lending space, and monetize their growing GTV, connecting various lending and payments products directly to SMEs that are in the Metric universe. The latter is already in successful pilots with over 1.2 million AED dispersed through us to a business.