From Full-Time Job to Bootstrapping Success: Sumit Kumar's Journey with Parqet
Volume #6 - bootstrapping a portfolio tracking SaaS App
In the third episode of the "Happy Bootstrapping" podcast, Sumit Kumar shares how he built Parqet (formerly Tresor One), a portfolio tracking platform that now counts 150,000 registered users. In the interview, he shares his impressive journey: how he founded his startup alongside a demanding full-time job, why he quit his position at Stripe, and how he built a sustainable company by consistently focusing on profitability.
In the Monday edition you’ll receive an older story, starting from Episode 1 of the podcast - on Thursday you’ll find a brand new and recent episode.
Sumit has been in the podcast twice already and this was the first interview we did in December 2022.
From Problem to Solution: The Creation of Parqet
"I wanted a different vision, something more modern and subjectively more appealing to me," Sumit explains about his motivation to found Parqet. When he began managing his own finances in 2018, he was dissatisfied with existing portfolio tracking solutions. The available software Portfolio Performance was powerful, but not visually appealing enough and only locally installable.
After several attempts, he seriously launched the project in 2019. For the first two years, he invested virtually all his free time: "I had no free time. Free time was this project." Getting up at 6 AM, programming, going to work, continuing during lunch breaks, evenings, and weekends – a constant cycle that he now describes as "unhealthy, but an investment in the future."
Business Model and Growth
Parqet follows a freemium model, with 10-20% of active users paying for services. The startup offers a free version and two paid tiers. Black Friday promotions are particularly successful, where annual subscriptions are offered at discounts.
Today, the team consists of 11-12 employees, not all full-time. Notably, Sumit actively supports employees who pursue their own projects on the side and promotes flexible working hours:
"If their own project takes priority because things are happening there, I'm the last person to object."
Marketing and Community Building
"I didn't create the forum to build a community, but honestly just to try to get the community to help me with support," Sumit admits. This pragmatic approach paid off. Through transparent communication, including disclosure of revenue figures, he earned users' trust.
Organic growth was the main driver:
Influencers used and shared the platform
The share function encouraged conversion
Open communication in forums and social media built trust
The company mainly grew through organic means, with users recommending the platform in forums and finance communities.
Challenges in Bootstrapping
The path to success was not without obstacles. One of the biggest challenges was rebranding from "Tresor One" to "Parqet." A cryptocurrency company with a similar name sent a cease-and-desist letter, and Sumit had to completely rebuild his brand within six months.
"Support consumed all my time," he recalls about the early days. As the user base grew, customer service became a stress test. The solution: a community forum where users could help each other.
The balance between full-time job and startup was extremely demanding: "After three intense years, I said in December last year: I need to change something, either I have to stop Parqet or I have to leave Stripe." This led to his decision to quit Stripe in January 2022 to focus on Parqet full-time.
Learnings for Bootstrappers
Sumit's key insights:
Focus is crucial: "As a bootstrapper, you have to say no a lot – not just to investment, but also to distractions, new projects."
Transparency builds trust: Open communication about revenue and developments binds customers.
Profitability before growth: "We always had profitability as a goal and didn't have to change strategy overnight."
Mind work-life balance: "It was a massive investment, but today my life looks completely different and much healthier."
Find your personal strengths: "I see my strength in user interfaces, SaaS, usability – I'd love to make many ugly processes beautiful."
Conclusion
We conducted a second interview in February 2022 where Sumit shared updates on Parqet's continued growth and team expansion. What makes his story particularly compelling is that Sumit identified a personal need, created a solution, and transformed it into a comprehensive SaaS application that generates consistent features and revenue growth. Equally inspiring is his commitment to community engagement—Sumit regularly shares new Parqet features and market updates every Friday through his “Friday Fireside” YouTube Livestream.
Happy Bootstrapping is a German podcast where I interview bootstrapped founders, indie hackers, and solopreneurs about their startup journeys.
Over the years, I've connected with many successful entrepreneurs who have built e-commerce shops, SaaS platforms, mobile apps, content businesses, or hybrid models.
Furthermore I am a bootstrapper myself and growing my DevOps-as-a-Sercice and Web Operations Company “We Manage”.