This week on The Exit: Brecht Palombo’s business was down 90% year-on-year after the Global Financial Crisis when he knew he had to find another way to make money. With one baby, and another on the way, Brecht was researching lender data in order to find new opportunities when the idea came to him. If he was wanting this information, surely others would too. He compiled the data into a PDF, and then sold this data to others. The first product was simple, but people were paying hundreds of dollars for the information so Brecht knew he was on the right track. He took the concept and grew it into a SaaS business with a subscription offering. From there the business grew and he saw it through to a 7-figure exit. Listen to hear Brecht’s exit story.
Brecht Palombo bought his first business with a partner, the local bike shop, at 15 years old in 1989. In the first dot com boom Brecht sold software and training to small businesses and then to Fortune 1000 and government accounts. In 2009 he started Distressed Pro and BankProspector, which grew to be and still is the number one provider of contacts and non-performing loan and REO portfolio data while listing every bank and credit union in the United States. Brecht optimized that business using the EOS as guidance and then sold it for 7-figures. Brecht has been involved in the sale of more than $200MM in assets for private and institutional investors and creditors. Today, Brecht is on a mission to build and buy businesses while sharing everything he knows, and is still learning.
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