Advice for Practical Founders

Simon Swords founded Fundipedia after starting in a backyard shed building bespoke software. Originally a custom development shop, his firm built a data governance platform for major buy-side asset managers including HSBC, Barclays, and Legal & General.

Over time, Fundipedia evolved into a high-retention enterprise SaaS platform with strong net revenue retention and Rule of 40 performance. Simon navigated long consultative sales cycles, regulatory tailwinds, and a tightly networked financial services market to build a durable recurring revenue engine.

After turning down an initial offer, Simon grew ARR further and ultimately sold in 2024 at approximately 10x ARR. He exited fully, used ChatGPT extensively in diligence, and now reflects on endurance, discipline, and surviving long enough for luck to compound.

Key Takeaways

• Survive First — Don't make a mistake that kills you or the business. Staying alive creates the opportunity for luck to compound.
• Enterprise Patience — Two-year sales cycles are normal at the top end. Persistence and reputation matter more than speed.
• Rule Of 40 Discipline — Strong growth plus profitability gives founders leverage in exit timing and valuation.
• Problems Over Product — Founders obsess over product; buyers care about solving painful, expensive problems.
• Build To Exit Cleanly — Structure the company so it runs without you before you start acquisition conversations.

Quote from Simon Swords, Founder of Fundipedia

"I think the most important thing is not to make a mistake that kills you or the business. While you're in the arena and you've not been taken out yet, dragged off by the hyenas or lions, whatever they used back in the Roman days, you've still got a chance to make something magical happen. "You do something stupid, kill the business, kill your reputation, you're done. Entrepreneurs hate the word luck. I do feel luck. I am lucky. Of course I'm lucky. I have to be lucky. You make your own luck.

"But I'll tell you what I didn't do. I didn't make a mistake that killed me or the business and the entire way through. Even when I was going through hell, never, no matter how neurotic or anxious or all the negative kind of traits you can imagine would have flown through me. I never made a mistake that killed the business."

Links

• Simon Swords on LinkedIn
• Fundipedia on LinkedIn
• Fundipedia website
• FE fundinfo website

LaunchBay helps B2B software companies automate client onboarding and implementation so customers activate faster and everyone stays aligned.

If your onboarding includes data collection, setup steps, approvals, training, or any level of customization, LaunchBay replaces the messy mix of emails, spreadsheets, and meetings with a clear, all-in-one onboarding system.

Teams use LaunchBay to onboard clients faster, stay on top of follow-ups automatically, and deliver a smoother experience, without hiring more people or adding more tools.

Visit launchbay.com/practical and get 25% off your first 3 months on any LaunchBay plan.

The Practical Founders Podcast

Tune into the Practical Founders Podcast for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our YouTube channel.

Get the weekly Practical Founders newsletter and podcast updates at practicalfounders.com.

Practical Founders CEO Peer Groups

Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A Practical Founders Peer Group is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by Greg Head.