Meet the woman who turned down a Rs 150 crore offer to build a company valued at Rs 8,308 crore. Hailing from Pakistan, Suneera Madhani, along with her brother Sal Rehmetullah, founded Stax in 2014 in Florida, creating an all-in-one payment platform that operates on a monthly subscription fee model, distinguishing it from the typical percentage-based sales model used by other platforms.
Suneera Madhani’s journey began after graduating in finance from the University of Florida, where she worked with Atlanta-based payment processor First Data.
It was during this time that she conceived the idea of moving away from percentage-based transactions. Despite facing skepticism from her bosses and multiple rejections from banks, she persisted in pursuing her vision.
With encouragement from her parents, Suneera Madhani and her brother embarked on the development of a platform based on a monthly subscription model. Pitching their idea in Orlando, they secured 100 clients. Interestingly, during this phase, they received a tempting Rs 145 crore offer to buy Stax, which they declined, drawing inspiration and confidence to forge ahead.
Facing financial constraints after quitting their jobs, the siblings secured a loan of USD 50,000 from family and friends, investing it in their venture. Today, the company employs over 300 people, marking a remarkable journey from their humble beginnings.
After a decade as CEO, Suneera Madhani parted ways with the company and founded CEOSchool, a group aimed at empowering entrepreneurs. She also hosts a podcast channel. Beyond her professional endeavors, Suneera Madhani is a mother of two daughters, Mila and Aana, a wine enthusiast, and an avid reader.
