TL;DR: Spindl needed to enable crypto payments to land new web3 native projects. Loop Crypto made it easy for Spindl to support payment in crypto and be up and running in minutes to close deals.
Spindl is a marketing analytics platform that bridges the worlds of web2 and web3. Founded in 2022 by Antonio Garcia-Martinez, Spindl brings attribution and measurement tools to web3 making it easy to understand where your users came from and how they interact with your web3 product. They work with a range of dApps, protocol teams, and increasingly web2 brands that need to understand the users behind the wallet addresses.
The Spindl team comes from the world of web2 marketing. They understand (and helped build) the marketing fundamentals of the last decade before discovering web3 and the potential to bring some “web3 magic” to marketers’ arsenals. The graphic below is a great example of how Spindl brings together web2 and web3 attribution to allow teams to have visibility into the complete funnel journey of their customers.
As an early-stage startup building product and onboarding early customers, payments was the last thing Spindl wanted to spend time on. Accepting subscription payments from their clients just needed to work. They had set up Stripe for fiat payments, but with a client base of NFT projects, dApps, and protocol teams, they started to increasingly come across clients who wanted and needed to pay in crypto because they earned revenue on chain.
There were three primary reasons that Spindl went with Loop to accept subscription payments in crypto. First, Loop was easy to implement and removed any hassle from managing crypto payments on an ongoing basis. As mentioned above, Spindl wanted to focus on its core business, not payments. Setting up Loop took a matter of minutes. Loop’s crypto autopay functionality also meant there would be no ongoing follow-up work to chase customers to pay.
By signing one transaction, customers could enable crypto autopay for their subscriptions and have funds automatically debited from their wallets month after month. Spindl could simply rely on Loop’s automated receipts, payment reminders, and late payment notices to handle any payment issues that might arise. Companies using Loop see 90% of payments are successful on their due date and on average customers authorize 7 months worth of payments in advance.
Second, the user experience (UX) was intuitive for their end customers and ensured they always sent the right amount of funds on the right chain at the right time. Loop’s checkout experience allowed Spindl to configure the networks and tokens they were willing to accept and then enable their customers to set up a recurring crypto payment with just a few clicks.
Third, Loop integrated with Spindl’s existing fiat provider, Stripe. This meant Spindl was able to use their existing product plans and billing logic configured in Stripe. With the Stripe integration, Loop ingested the Stripe products and automatically generated checkout links for Spindl to use. Once Spindl customers make a payment via Loop, the transaction details are immediately synced with Stripe and the invoice in Stripe is marked as paid. This allows Spindl to use Stripe as its source of truth for subscription management having visibility into their full customer base in one place. This will be critical for Spindl’s operations as they continue to grow.
Spindl’s Head of Growth Austin Cain summed up the experience of working with Loop, saying:
“The end-to-end experience with Loop Crypto is super smooth. They had us set up in minutes and made it easy for us to collect recurring crypto payments from our customers with no hassle on our end.”
If you’re focused on growing revenue among a web3 client base, let’s talk. Loop can help you close deals and automate your payment operations. We’ll have you onboarded in minutes during a quick call.
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About Loop
Loop Crypto makes it simple to collect and pay in crypto by allowing companies to turn on autopay and schedule payments. Built by web3 veterans, Loop unlocks payment automation to reduce customer churn and eliminate time-consuming payment collection and follow-up. By connecting on-chain and off-chain data, Loop streamlines invoice reconciliation, accounting, and fits seamlessly into your financial stack.
Loop crypto is programmable payments.
Are you ready to supercharge your payments? Book a call with Jeff, our Head of Business Operations, or head to our docs to learn more.
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