In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with the President of Cardata, Michael Levine.
Cardata is a B2B SaaS platform changing the game for companies with drivers on the road using their vehicles. They offer a mileage tracking app and a reimbursement platform that ensures drivers are fairly compensated while adhering to local tax laws in the United States and Canada.
Michael compellingly argued against company-owned fleets, citing the high costs and maintenance hassles. He pointed out the advantages for employees, such as the freedom to choose a car that fits their lifestyle and the opportunity to build equity in their vehicle.
Traditional car allowances and reimbursement methods need to be more efficient and challenging. Michael explained how Cardata's platform provides a tax-efficient and customizable solution that caters to the diverse needs of employees based on their mileage and location.
Michael also shared that various industries, including food and beverage, pharmaceutical, medical device, and construction companies, are already benefiting from Cardata's services. The company's recent significant funding round is a testament to its growth potential, with a keen focus on product improvement and brand building.
Key Points from the Episode:Michael Levine is a highly accomplished professional in private market transactions and business operations, currently serving as the leader of Spruce Grove Capital (SGC). With a background that originated at Lynx Equity and BDO Canada, he garnered expertise in business valuation and strategic management.
His leadership contributions at Target Canada played a pivotal role in the company's expansion into the Canadian market. In 2021, under Michael's guidance, SGC achieved the acquisition of Cardata, a prominent reimbursement software provider for businesses with employee-owned fleets.
Demonstrating strategic and operational prowess, he tripled Cardata's annual recurring revenue, leading to a majority recapitalization in 2023 with Wavecrest Growth Partners and MassMutual Ventures.
Michael is recognized for his empowering leadership style and cultivates a culture of inclusion, motivation, and continuous improvement within his professional endeavors.
About Cardata:Established in 1999, Cardata has emerged as a prominent provider of tax-compliant mileage reimbursement software designed for global enterprises.
Specializing in solutions for companies whose employees use personal vehicles for work, Cardata has experienced substantial success, particularly under the leadership of Sheret Ross and Michael Levine.
The company tripled its annual recurring revenue within three years. Backed by strategic growth investments from Wavecrest Growth Partners and MassMutual Ventures, Cardata is well-positioned for continued expansion and innovation.
The company distinguishes itself through its commitment to offering IRS-compliant reimbursement solutions, ensuring that businesses and employees benefit from maximum efficiency and compliance with tax regulations. Cardata stands at the forefront of facilitating streamlined and effective mileage reimbursement processes for its global clientele.
Links Mentioned in this Episode:Want to learn more? Check out Cardata website at
https://cardata.co/
Check out Cardata on LinkedIn at
https://www.linkedin.com/company/cardata-co/
Check out Cardata on Twitter at
https://twitter.com/choosecardata?lang=en
Check out Cardata on Facebook at
https://www.facebook.com/cardataco
Check out Michael Levine on LinkedIn at
https://www.linkedin.com/in/mjlevine1/
Check out Michael Levine on Instagram at
https://www.instagram.com/daniellesabrina7/?hl=en
More from UpMyInfluence:We are actively booking guests for our The Thoughtful Entrepreneur. Schedule HERE.
Are you a 6-figure consultant? I’ve got high-level intros for you. Learn more here.
What is your #1 Lead Generation BLOCKER? Take my free quiz here.
Want to learn more about all the podcasts managed by UpMyInfluence? Opt in here.
1799 – The Strategic Edge of Fractional CFOs in B2B SaaS with Kristian Marquez
1798 – Building Iconic Brands with Chris Orzechowski
1797 – The Key to Retail Success with Bryan Alston
1796 – Affiliate Partnerships with Frederic Jean-Bart of Performance Partners
1795 – Sales & Customer Success with Oz Merchant of Viably
1794 – Building Businesses with Staci Gray of Organize to Scale
1793 – Breathing life into brands with Fusion Creative Branding’s Deevo Tindall
1792 – Solutions That Can Lead to Valuable Self-Discovery with Sarah Fruehling
1791 – Problem Solving with Chuck Leblo of Interact – Business Solutions Group
1790 – Thought Expansion with Ross Arntson of the The Infinity Matrix
1789 – Scaling your business with Steven Calascione of Success With Class
1788 – Integrating AI in your operations with Art Powell of Trinsic Technologies,Inc.
1787 – Remote Workplace Best Practices with Virtira’s Shane Spraggs
1786 – The Six-Step System to Success with Lori Anne De Iulio Casdia
1785 – Talking about Natural Intelligence with Rosie Tomkins of N-Stinctive
1784 – Creating Highly Performing Teams with David Greenspan & Justin Follin
1783 – Scale Your Business 10X with Clare Price of Octain
1782 – Expanding your IT team with Tatiana Melnichuk of LUCKY HUNTER
1781 – How to Double Your Leads in 90 Days with Mark Osborne
1780 – Authentic Sales with Coach Dan Gordon
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Organic Marketing Simplified: Effective podcasting strategy for growth and monetization
THE GO BIZ GUY
The Sigma Femme Podcast
The Prof G Pod with Scott Galloway
PRI University