2022 has been a big year for Treyd – you might even say it’s the year that things got real. As co-founder and CEO Peter Beckman put it, “we went from a small team running an experiment to building a real organization”. From scrappy startup to a booming business bracing for scale.
Things really took off after taking in 100 million SEK (roughly €9,2M) in a series A funding round at the end of March. The investment made it possible to bring in more people, more customers and to start expanding internationally.
Here’s a roundup of some of the most significant figures and feats that marked Treyd’s 2022.
4x as many Treydsters
The numbers may still be modest, but the increase is significant. At the end of last year, the team consisted of 13 Treydsters – and now, we just crossed the 50 employee mark.
This year several new functions and entirely new departments were established. Starting with tech, credit, operations and sales teams at the beginning of the year, we now have full-fledged product, legal, HR, marketing, support, and finance departments – among others.
Ultimately, this growth created a knock-on effect within the company. Peter highlights that “with new people came a lot more knowledge – we’re doing everything a lot better, and at a different scale than before.”
While our headcount will likely not grow in such a high proportion next year, we are looking forward to adding more Treydsters to the team in 2023. We’re currently recruiting for over 10 open roles.
Opening a new UK office
In January the Treyd team was split across two offices – Stockholm (where Peter established the more commercial and operations-oriented teams) and Cairo (where co-founder and CTO Sameh El-Ansary established the tech organization).
With Treyd entering the UK market in May, we also set up a brand new office in London and expanded the local team. Since its inauguration, 6 Treydsters have joined the UK office.
“The UK launch was really key for us, as we set out to prove that this idea works globally – and isn’t just something for the Nordics” shared Peter. And prove the concept it did. Only six months after launch, the UK market accounted for a third of our customers.
Reaching 350+ customers
While growing the team and expanding to new regions is great, the real thrill for us comes from seeing our customer base grow – and more importantly, knowing that our service brings real value to these businesses.
In December last year, Treyd had reached a total of 61 customers (47 of which had active orders that month). In mid-December 2022, we reached a milestone of 350 customers – 276 of which had active orders on that same date.
While the increase itself is fantastic (474% growth in total customers), what makes us happy is seeing that the proportion of active customers has remained the same despite this growth.
Having a consistent 80% in active usage is quite remarkable considering we know many of our customers have seasonal businesses, or only make a couple of orders with their suppliers each year.
Product maturity takes leaps
Much like the company itself, the Treyd product went through a significant transformation this year.
The design has been continuously tweaked, and the onboarding completely rebuilt – but perhaps the biggest overhauls went unnoticed to customers, as they happened in the backend. These have been aimed at simplifying operations and improving security. New automations and integrations made it possible for everything to run more smoothly, and for the product to function at scale.
“We could never have managed the volume we have now with the product we had at the start of the year,” is Peter’s take. He also hinted that we can expect a bigger focus on new features next year – but 2022 was about future-proofing the product for scale.
Continued growth and recognition
After seeing a crazy 1425% growth in revenue in 2021, it would be normal to believe Treyd’s big growth phase was over and the curve would somewhat stabilize. Especially with the team growing, and new departments being created – things might slow down as internal adjustments are made, and new processes set in place.
But that wasn’t the case. 2022 brought an additional 9x increase in revenue.
Getting some external recognition – like topping WIRED’s list of the Hottest Startups in Stockholm was the cherry on top, an unexpected but welcome cause for celebration.
Increasing ambitions for 2023
While it will be hard to top the leaps Treyd has made this year, we look forward to seeing where 2023 takes us, and the impact of focusing more on adding new features and streamlining the user experience in the Treyd platform.
If you are interested in joining for more adventures and intense growth to come, you can check and apply for our open roles here.
If you are interested in Treyd’s offering and want to check if we’re a fit for your business, get in touch with our team to see if you can join Treyd’s growing customer base ;)