Chase Harmer is the founder and CEO of a popular fintech company- ProfitPay. It is one of the companies that have a significant position in the fintech market. In the late 2000s, digitized financial systems started competing with the traditional banking systems.
A synopsis concluded that many conventional institutions are afraid of losing a major fraction of their revenue to fintech companies. As a result, more and more institutions are accommodating technology in their daily practices and services. ProfitPay has developed a revolutionary interface for its users which encompasses digital banking, payments and card issuing all in one interface, allowing the numerous services to reach as many people as possible.
In his former business, Chase recognized several drawbacks that restricted his personal and professional growth. Following his 8 years of banking career servicing hotels, he travelled across the United States creating a large portfolio of properties. He noticed clients used to negotiate and persuade him into lowering the costs, which had a huge impact on his revenue. Later, he decided to fabricate an infrastructure that would empower his clients and him as well as eradicate much unnecessary and time-consuming procedures.
ProfitPay was established in the year 2014 after a substantial planning period and bootstrapping the first 2 million in funds required to start and then raising another 25 million to build an enterprise value of over 300 million now quickly rising to 1 Billion.
The initial phase of Chase’s life was particularly hard given the ramifications of his complex job as a founder. Even though the responsibilities on the superficial level seemed easy, he had difficulties fathoming the depth of them. He later confided that he often changed the pivot of his company’s functioning due to prospects etc.
Chase Harmer is also a budding social entrepreneur. He is working towards creating a platform for people who are interested in contributing to a social cause, for instance, the survival of a natural or artificial disaster. Due to the loopholes prevalent in the system, many people suspect that their funds have not been used judiciously. Chase wants to create an infrastructure that would eliminate the mid-men and allow the contributors to easily connect with the victims. Moreover, this organization would be a branch of his earlier project- founder. inc.
While the social apparatus is changing its form drastically, Chase hopes to bring about a change through his company. With its recent collaboration with other fintech-based companies, ProfitPay has been able to diversify its list of services. Additionally, Chase’s advice for beginners and budding entrepreneurs is to focus on the process and operation of the company. As soon as it is stabilized you can proceed with scaling new products and services.