Startup Acquisition Stories With Jeel Patel, Founder of InvoiceOwl

Watch the interview

Even with massive competition, you can still build a useful, profitable, SaaS business. 

Jeel Patel and his father built InvoiceOwl, an online invoicing tool for tradesmen like plumbers after Jeel noticed his family’s landscaper using an inefficient paper invoicing system. Three years later, they sold the company for six figures on Acquire.com.

At first, Jeel felt daunted by the market competition for invoicing applications. The industry was filled with well-known, multimillion-dollar rivals. Then he parsed through Google to see if tradesmen were still hunting for online invoicing systems. Despite all the great options already out there, they were missing on crucial Google searches.

To test demand, Jeel created a website and blogs to attract attention to his idea. Soon, he was ranking on the first page for search terms like “invoicing for plumbers.” Once he saw customers arriving, he built his application in six months.

After three years, InvoiceOwl brought in 13,000+ users and a couple thousand paying customers. Finally, Jeel sold his application on Acquire at just 23 years of age so he could move on to a new project.

Now, Jeel is building Upperinc.com, a route management software for logistics businesses. Already, he’s making $500,000 ARR.

Listen to Andrew’s talk with Jeel post-acquisition as they talk about:

  • How Jeel discovered there was still room in a niche with behemoth-sized competitors
  • How Heel played the SEO game to build hype around InvoiceOwl
  • What Jeel believes is the most important thing to include in your startup sales process

Jeel is just getting started and you can follow along on his journey through the links below:

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