About Orchid B
Orchid B is the premium platform of choice for back office functions including business registration, banking, cards, foreign exchange, insurance, accounting, and payroll. We enable the self-employed and small businesses to transact efficiently, cost effectively and with complete confidence.
Location: Montreal
Year Founded: 2020
Vertical: Digital Banking / Analytics / Infrastructure
Employees: 11 – 50
Website: OrchidB.com
Social Media:
Problem
Entrepreneurs require the services of up to 20 different back-office providers to manage banking, payroll, invoices, reconciliations, accounting adjustments, tax, and statutory returns. That’s over 200 processes that need handling every year, in separate systems, that don’t talk to each other. A sole-proprietor spends up to 25,000 dollars a year in back office fees. Including their billable time, that can mean 65,000 dollars every year, and even more for SMEs.
- Startup Pre-revenue 100%
- Startup Post-revenue $1 – $2M 0%
- Scaleup $2M – $10M 0%
- Scaleup $10M+ 0%
Core Benefits
We’re launching with a payments and cards business in Canada with invoice and expense management: the heart of Orchid B. Onboarding in just 10 minutes with cards available immediately on mobile. Next, we will scale Orchid B by building out it’s brain; payroll, accounting, tax, and statutory reporting. By year 5, Orchid B will be running the entire back-office for small businesses with currency wallets, insurance, and business registration, all in one. Our front-end interface will provide the best possible experience. By integrating with specialised “back-end” partners, we will not reinvent the wheel. One value chain for all the entrepreneur’s back-office data. We will save our clients a lot of time and money.
Ideal Customers
Businesses to Business (B2B)
Milestones
– Version 1 of a high fidelity front-end prototype is ready
Problem
Entrepreneurs require the services of up to 20 different back-office providers to manage banking, payroll, invoices, reconciliations, accounting adjustments, tax, and statutory returns. That’s over 200 processes that need handling every year, in separate systems, that don’t talk to each other. A sole-proprietor spends up to 25,000 dollars a year in back office fees. Including their billable time, that can mean 65,000 dollars every year, and even more for SMEs.
Core Benefits
We’re launching with a payments and cards business in Canada with invoice and expense management: the heart of Orchid B. Onboarding in just 10 minutes with cards available immediately on mobile. Next, we will scale Orchid B by building out it’s brain; payroll, accounting, tax, and statutory reporting. By year 5, Orchid B will be running the entire back-office for small businesses with currency wallets, insurance, and business registration, all in one. Our front-end interface will provide the best possible experience. By integrating with specialised “back-end” partners, we will not reinvent the wheel. One value chain for all the entrepreneur’s back-office data. We will save our clients a lot of time and money.
Ideal Customers
Businesses to Business (B2B)
Milestones
– Version 1 of a high fidelity front-end prototype is ready
- Startup Pre-revenue 100%
- Startup Post-revenue $1 – $2M 0%
- Scaleup $2M – $10M 0%
- Scaleup $10M+ 0%