The SaaS Podcast - Episode 436: LodgerIn: From 850 Rejections to a 7-Figure SaaS Business with Oscar Rubio

Host: Omar Khan
Guest: Oscar Rubio, Founder and CEO of LodgerIn
Release Date: March 27, 2025

1. Introduction to LodgerIn

In this episode, Omar Khan interviews Oscar Rubio, the visionary behind LodgerIn—a SaaS platform dedicated to streamlining housing and relocation services for organizations managing the international mobility of students and employees. Oscar's journey from a traditional relocation services provider to a thriving SaaS entrepreneur offers invaluable insights into resilience, adaptability, and strategic pivoting in the face of unprecedented challenges.

2. From Traditional Relocation Services to SaaS

Oscar began his career by bootstrapping a traditional relocation services business. For nearly a decade, he manually managed complex relocation processes for clients, including universities and corporations. This hands-on approach provided deep insights into customer needs but posed significant scalability challenges due to its dependency on personnel and physical presence.

Key Insights:

• Customer-Centric Growth: Oscar emphasized understanding and solving every aspect of the customer's relocation experience, which organically expanded his service offerings over time.
• Scalability Issues: The traditional model was not scalable, leading Oscar to contemplate a transition to a more sustainable and scalable business model.

3. The Impact of COVID-19 and the Critical Pivot

The COVID-19 pandemic was a turning point for Oscar's business. Overnight, mobility ceased, borders closed, and revenues plummeted. With no investors or co-founder support, Oscar faced the potential collapse of his business.

Notable Quote:

"My entire business collapsed, mobility stopped, borders closed, and my revenues simply vanished."
— Oscar Rubio [01:34]

Despite overwhelming odds, Oscar resisted the advice to shut down. Instead, he initiated a critical pivot from a service-based model to a software-centric SaaS platform. This involved digitalizing years of manual processes, a transition that laid the foundation for LodgerIn's current success.

Key Actions:

• Digital Transformation: Oscar and his Chief Operations Officer spent months converting manual processes into digital workflows.
• Solo Leadership: Without a technical co-founder, Oscar undertook the challenge of learning the fundamentals of SaaS product development.

4. Building and Launching the MVP Without a Technical Co-Founder

As a non-technical founder, Oscar faced the daunting task of developing a SaaS product without the ability to write code. Determined to succeed, he immersed himself in understanding SaaS mechanics, built a small team, and launched a minimal viable product (MVP).

Notable Quote:

"There is always a way. If you want to make it, there is always a way."
— Oscar Rubio [20:47]

Key Strategies:

• Self-Education: Oscar learned the basics of SaaS development to bridge the knowledge gap.
• Team Building: He assembled a team capable of executing his vision, emphasizing the importance of surrounding himself with knowledgeable individuals.
• Iterative Development: The initial MVP had significant flaws, such as outdated housing availability, which Oscar addressed through continuous feedback and iteration.

5. The Relentless Sales Journey: 850 Rejections to First Customer

One of the most striking aspects of Oscar's journey was his persistence in sales. He conducted approximately 850 meetings, often without appointments, traveling extensively to secure his first customer.

Notable Quote:

"I believe every problem has a solution. And at the end, if you enjoy what you are doing, you will get it after or sooner. But you will have it."
— Oscar Rubio [45:06]

Strategies Employed:

• Direct Sales Efforts: Oscar personally visited universities and corporations, demonstrating his commitment and belief in the product.
• Resilience: Despite numerous rejections, Oscar's personal experience with relocation challenges kept him motivated.
• Customer Validation: Through persistent efforts, he finally secured his first customer, leading to referrals that fueled further growth.

6. Overcoming Early Product Challenges and Iterative Improvements

The first version of LodgerIn's platform, launched in 2022, mimicked an Airbnb model for student housing but lacked essential features like real-time housing availability. This oversight resulted in numerous cancellations and financial losses.

Key Learnings:

• Importance of Core Functionality: Ensuring that fundamental features work seamlessly is crucial for customer satisfaction and retention.
• Continuous Feedback Loop: Oscar's approach to collecting and implementing customer feedback was instrumental in refining the product.

Notable Quote:

"If you wait to have the perfect product, it's never going to happen."
— Oscar Rubio [28:18]

7. Financial Growth and Scaling Operations

Since the pivot, LodgerIn has exhibited impressive financial growth:

• 2022: €171,000 in revenue
• 2023: €420,000 in revenue
• 2024: €1.2 million in revenue

Oscar has maintained an EBITDA-positive margin of around 14% annually, underscoring the business's profitability and sustainability.

Expansion Efforts:

• Geographical Reach: Expansion into the US and Dubai, along with operations in Spain, Italy, Portugal, France, and the UK.
• Investment: Successfully bootstrapped initially, Oscar later raised €400,000 to support aggressive growth and international expansion.

Notable Quote:

"First, validate the business, validate the service, and get your financials with your customers, not with money coming from outside."
— Oscar Rubio [16:28]

8. Fundraising Journey and Strategic Investments

Oscar's commitment to building a sustainable, customer-validated business paved the way for successful fundraising. By meeting with 850 potential investors, he secured €400,000 in funding, enabling LodgerIn to accelerate its expansion plans.

Key Insights:

• Validation Before Investment: Oscar prioritized proving the business model and securing customer traction before seeking external funding.
• Investor Alignment: Selecting investors who supported LodgerIn's growth vision was pivotal in ensuring smooth scaling.

Notable Quote:

"The first step is to start and validate the idea and get the customer and make mistakes and be flexible and adapt yourself and adjust everything that you must adjust to get to the point."
— Oscar Rubio [20:47]

9. The Essence of Resilience and Entrepreneurial Spirit

Throughout the episode, resilience emerges as the cornerstone of Oscar's success. His unwavering belief in solving a genuine pain point, combined with adaptability and relentless pursuit of his goals, underscores the qualities essential for entrepreneurial triumph.

Key Takeaways:

• Personal Motivation: Oscar's own challenges with relocation fueled his passion and commitment to solving the problem for others.
• Adaptability: Transitioning from a service-based model to SaaS exemplifies strategic flexibility.
• Persistence: Overcoming extensive rejection and early product setbacks required immense determination.

Notable Quote:

"Resilience, resilience, and adaptability to change, to get the customer. That's it."
— Oscar Rubio [35:01]

10. Lightning Round Highlights

In the concluding segment, Oscar shares personal insights and advice:

• Best Business Advice Received: "Every problem has a solution."
  — [43:05]

• Recommended Book: From 0 to 1 Million by Peter Thiel, highlighting adaptability and lean startup methodologies.
  — [43:10]

• Key Attribute of a Successful Founder: Resilience.
  — [43:34]

• Favorite Personal Productivity Tool: Morning jogging to clear the mind and boost energy.
  — [43:41]

• Dream Business Idea: Empowering entrepreneurs in resource-limited regions like Africa by providing access to technical teams and education.
  — [44:00]

• Fun Fact: Recovered his mobile bill to propose to his wife due to financial constraints.
  — [44:29]

• Passion Outside Work: Family and children.
  — [45:06]

11. Conclusion and Key Takeaways

Oscar Rubio's journey with LodgerIn is a testament to the power of resilience, customer-centric innovation, and strategic pivoting. From facing near-850 rejections to establishing a seven-figure SaaS business, Oscar's story offers a roadmap for aspiring entrepreneurs navigating the complexities of scaling a startup. His emphasis on validating ideas with real customers before seeking investment, coupled with an unwavering belief in solving genuine problems, provides invaluable lessons for the SaaS community.

Final Quote:

"Everyone can do that. But you must have the resilience to don't get paid for long term, be in a car, be far from your home, going, knocking doors and do that."
— Oscar Rubio [35:32]

For more information about LodgerIn or to connect with Oscar Rubio, visit LodgerIn.com or reach out to him on LinkedIn.