Suneera Madhani, at the age of 34 founded a self-help organization with 300,000 female CEOs in addition to building a profitable startup from scratch.
The creativity and intelligence of women across diverse industries are propelling business to unprecedented heights. One such woman who has achieved success is Suneera Madhani, who at the age of 34 founded a self-help organization with 300,000 female CEOs in addition to building a profitable startup from scratch.
Far from the renowned Silicon Valley, America's tech hub, Suneera created a billion-dollar business. This is the tale of a migrant who achieved great success in the US.
Stax was founded in 2014 by Suneera Madhani and her brother Sal Rehmetullah. The company's payment platform, which bills a subscription fee every month at a fixed rate instead of the percentage of sales that all other payment systems offer, is the center of the company's operations.
The company has completed transactions totaling $23 billion over the last eight years, employing over 300 people. Her parents were immigrants from Karachi in Pakistan. They operated a variety of businesses, most of which failed, including cafes and convenience stores.
She worked as a sales representative for First Data, an Atlanta-based payment processor, trading payment systems to business owners after receiving her degree in finance from the University of Florida. The concept of eliminating the transactions based on percentages occurred to her.
Rejected Rs 145 crore offer
Madhani went to her supervisors at 12 banks, and they all laughed at her. She and her brother saved salary of six months to build their business. She drove her Volkswagen Beetle around Orlando presenting her idea to companies.
They signed a hundred customers. A deal worth $17.5 million (about Rs 145 crore) was presented to them to purchase Stax. They received confirmation that they were onto something with the offer. With just four months' worth of salary left, they took out a $500,000 loan to expand the business.
At a valuation of more than $1 billion, they had raised $263 million in total by the previous year. She also started an organization known as CEOSchool.
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