[rstocker99]

(I'm one of the purchasers of Codetree) I had also thought that banks wouldn't be interested in lending in cases like this but surprisingly enough when we talked with our bank after we made the purchase they mentioned they'd be very interested in financing us if we were looking at buying other software businesses in the future. When I had talked with them a few years ago there was no way they'd have loaned money for a purchase like this because it has no tangible assets. They told us straight up that they understand the world is changing and they are now interested in making these types of loans. They get that small businesses owners today are just as likely to be software companies as they are to be restaurants. We're Canadian and our bank is TD.

[charlesdm]

Question: Did you acquire the assets with a Canadian entity? I'm assuming so. Did you have any problems transferring the billing subscribers? I'm EU based, and one of the concerns I've had / I have is that some US based customers seem to be getting auto rejects by their credit card provider (i.e. Stripe) when billing. Not exactly sure how I discovered that -- I think some guy wrote about it on a SaaS forum somewhere.

[kareemm]

Yep, we acquired the assets with a Canadian entity.

We had this problem with a previous business when we moved from a US Stripe account to a Canadian Stripe account (when we started the original business Stripe wasn't available in Canada).

We were concerned about CC rejections, but shockingly didn't deal with a single one. In the past customers would just call up their CC provider and tell them to expect a recurring change from vendor_name and it ceased being an issue.

One MAJOR problem we had was transferring subscriptions from the US Stripe Account to the Canadian account. Stripe used to do this service for you (it has for us twice, once when we moved from US ==> Canada, and once when we sold the Canadian assets to another US corp). But they don't anymore, and their documentation and process around this is WOEFULLY lacking. Probably have a blog post in us about the process.