Thriday builds a game-changing MVP with Teamified's global team solution

Thriday and its challenge

Thriday is an innovative Australian financial technology company empowering small businesses with streamlined banking and financial management solutions. Their platform integrates banking, invoicing, and tax automation into one easy-to-use service, helping businesses save time and focus on growth.

After raising over $3 million through Birchal, a crowdfunding platform, Thriday faced a critical challenge: building their minimum viable product (MVP) while keeping labour costs under control. With development being one of the most significant expenses, the founders, Michael Nucifro and Ben Winford, needed a solution that would allow them to build a high-quality platform without exhausting their budget.

Michael and Ben knew they had to balance product quality and cost efficiency to establish long-term success.

The Teamified solution

Teamified introduced Thriday to a global resourcing approach that transformed their business and development strategy. Through Teamified's expertise in finding top talent around the globe, Thriday successfully built a highly skilled development and engineering team. Initially, the team started with four individuals and a principal consultant, but it quickly expanded to 17 specialists across two locations - India and the Philippines.

Through Teamified's vetted, highly skilled tech professionals, Thriday built their MVP for approximately $500k - a fraction of the initially planned $2 million budget.

• Global team assembly: A dedicated team of 17 professionals, including .NET backend developers, Azure DevOps engineers, UX/UI designers, frontend React developers, customer support, and marketing specialists, across two strategic locations.

• Streamlined development process: The global team and Thriday's founders demonstrated exceptional collaboration, delivering high-quality work seamlessly and efficiently.

• Cost efficiency: A significant portion of the budget was freed up, enabling Thriday to allocate resources strategically and preserve funds for growth initiatives.

Results and impact

Thriday's collaboration with Teamified delivered transformational results for the company:

• Cost savings: Thriday built their MVP for just $500k, freeing up $1.5 million to be invested into growth initiatives.

• Faster time to market: Teamified's streamlined process enabled Thriday to launch their MVP efficiently, gather insightful customer feedback faster, and make data-driven improvements quickly.

• Sustainable growth: With the global teams serving as the backbone of the company's operations, the collaboration created a solid foundation for scalable operations and beyond.

Conclusion

Thriday's experience demonstrates how Teamified's offshoring solutions can drive substantial business growth. By leveraging outsourced teams, companies can scale efficiently, maintain operational control, and ensure they have the right talent to support long-term success.

Today, Thriday's dedicated development team, sourced through Teamified, remains integral to the company's success. The ongoing partnership continues to evolve, driving innovation and helping Thriday scale its platform as they work toward streamlining small business banking in Australia and beyond.