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  "documentTitle": "Check out the 21-slide pitch deck Payhawk;; an expense automation fintech;; used to raise $112 million from Stripe-backer Greenoaks",
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  "authorName": "Payhawk",
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  "notes": "The table displays cohort-based revenue expansion, where percentages consistently exceed 100%, indicating net negative churn.",
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      "text": "Extremely resilient model that start with cards spearhead and expand to multiple entities, software upgrades and more turnover.",
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      "text": "Due to the nature of the product, the initial contract value in terms of MRR is only a fraction of the LTV. Extremely resilient model that start with cards spearhead and expand to multiple entities, software upgrades and more turnover. The trajectory for M2 has a lot of unlocked potential as we are accelerating the integrations roadmap and making the product easier to adopt. Expansion from a cohort might include new business entities, additional cards or extra revenue from interchange and fees.",
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      "text": "Net Revenue Retention: 707%",
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