partners

“Our Investment in Basis Theory” by Kanyi Maqubela (Kindred Ventures)

I distinctly remember my very first conversation with Kanyi almost exactly a year ago. He picked up the phone and said something to the effect of “so are you disrupting the entire payment processing industry?”.

“Our Investment in Basis Theory”

I distinctly remember my very first conversation with Kanyi almost exactly a year ago. He picked up the phone and said something to the effect of “so are you disrupting the entire payment processing industry?”. Yes, and no, well kind of was my answer (I think). We ended up chatting for almost an hour and despite us not yet even having a company name or a pitch deck (let alone a single line of code written) he suggested we partner with him and Steve. A week later we had a term sheet and the rest is history as they say. His initial instinct was 100% correct - they were the right partners for us then and still are today. 

Two important lessons from that history. The first: anything worth stealing can be, so a tool that makes transmitting — and storing — that data secure, is valuable to companies. The second: credit cards and financial data is what tends to get secured first. And yet, today, untold millions bank accounts, and social security numbers are sitting in Excel and CSV files on company servers across the world, while credit cards are locked within payment processor walls, inaccessible to merchants and businesses. Enter Basis Theory.

We have many other incredible investors and partners, too, and that’s a good thing because it’s going to take an army to tackle this enormous opportunity that, as Kanyi alludes to, is going to be “everybody’s problem”.

Read more about what Kayni has to say here!