Defensibility
Switching Costs
Compound moat driving 132% NRR
Headline
1.8% churn
Net Retention
132%
Monthly Churn
1.8%
Products / Customer
2.7
What it means
Embedded APIs, custodied data, multi-product workflows, and integrated fintech rails create compound switching costs.
Key drivers
- Embedded APIs across 8 categories
- Custodied data & identity across products
- Multi-product workflows with cross-product automations
- Fintech rails connected to national payment networks
Investor Writeup
Switching costs compound with every additional product a customer adopts. Our average customer now uses 2.7 Blosfect products — making competitive displacement economically unviable.
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