New Delhi: The creativity and intelligence of women across various industries is taking business to unprecedented heights. One such woman who has achieved success is Suneera Madhani, who at the age of 34 founded a self-help organization with 300,000 women CEOs besides building a profitable startup from scratch.
Far away from America’s famous tech hub Silicon Valley, Sunira has built a business worth billions of dollars. This is the story of an immigrant who achieved great success in America.
Stax was founded in 2014 by Sunira Madhani and her brother Sal Rahmatullah. The company’s payments platform, which bills monthly subscription fees at a fixed rate rather than a percentage of sales as all other payment systems offer, is central to the company’s operations.
The company has completed transactions totaling $23 billion over the past eight years, employing more than 300 people. His parents were immigrants from Karachi, Pakistan. He operated a variety of businesses, most of which failed, including cafes and convenience stores.
After receiving a degree in finance from the University of Florida, he worked as a sales representative for First Data, an Atlanta-based payment processor that sold payment systems to business owners. The concept of closing the transactions on percentage basis came to his mind.
Rejected offer of Rs 145 crore
Madani went to her supervisors at 12 banks. He and his brother saved six months’ salary to build their business. He drove his Volkswagen Beetle around Orlando and presented his idea to companies.
He got signatures from a hundred customers. A deal worth $17.5 million (about Rs 145 crore) was presented to him to buy Stax. He got confirmation that they were on to something. With only four months’ salary left, he took a $500,000 loan to expand the business.
At a valuation of over $1 billion, they had raised a total of $263 million as of last year. He also started an organization named CEOSchool.