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‍“Willingness to Pay completely changed our pricing structure. We now have clear-cut tiers that allow us to close small and large customers across every vertical with ease.”

‍‍ ­– Neil Mullane, Chief Revenue Officer at Thirdfort

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1. 96% faster closing on an enterprise deal
2. 96% of top existing customers projected to re-sign
3. +15pp increase in estate agent deals’ contribution to overall revenue

About

Thirdfort is a Series A startup with $25M in total funding and £10M in ARR, serving over 1,500 regulated businesses. They combine Know Your Customer (KYC) and anti-money laundering technology within a client due diligence platform to support legal, property, and finance professionals securely onboard clients in minutes.

As Thirdfort scaled across customer types—from estate agents to large law firms -their pricing model struggled to keep up.

Situation: Growth momentum restricted by an unscalable pricing framework

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“We needed a pricing model that captured value across our diverse customer segments, but traditional consulting firms would take months simply to understand our industry.” ­

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Thirdfort had raised over $25M in funding from leading VC partners like 13books Capital and Breega, and was verifying customers for over 1,500 regulated businesses. Despite this growth, their one-size-fits-all pricing model limited ACV and ARR since it didn’t capture value across customer verticals and sizes.

First, the structure charged all customers the same fixed amount per verification—law firms requesting extensive KYC processing paid the same as estate agents who only needed to verify a client ID. This feature-based model made Thirdfort’s solution significantly cheaper for some segments and expensive for others, creating revenue leakage and making it difficult to close deals with smaller customers.

Second, the pricing model didn’t support larger ACV sizes because it didn’t monetize customer usage. Customers with contracts for large verification volumes were charged the same fee per check, hurting unit economics.

Lastly, Thirdfort did not have an established way of introducing new features, which created SKU-creep and made the structure highly unscalable as the company’s offering evolved.

Thirdfort needed a value-based packaging and pricing model that aligned with customer value, increased ARR and ACV, and supported future scale.

What we did: A tiered pricing structure that captures customer value across every segment

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“Willingness to Pay led our pricing redesign with a clear and structured method. We built a tiered framework, and every refinement in our pricing was made with precision to drive more revenue.”

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We worked closely with a core team of Thirdfort C-suite executives, including their Chief Financial Officer and Chief Revenue Officer, to segment their customer base and redesign their pricing model. We re-worked their old structure into a tiered packaging and pricing framework that aligns with customer value for every customer type and size.

Each tier is built around core jobs to be done and de-emphasizes individual features. This strategy allows Thirdfort to close both smaller and larger deals more efficiently. We increased pricing on each entry-level tier and added custom pricing for middle and enterprise tiers to enable higher ACV and easier negotiations for Thirdfort’s sales team.

We then changed the old pay-as-you-go pricing model to a new credit-based system that exchanges credits for verification checks, with a rollover mechanism for unused credits.

While the introduction of a tiered framework aligned Thirdfort’s pricing with customer value, this shift in the pricing model helped unlock higher scalability and flexibility. Tiers define who they’re selling to; credits define how they consume. By moving away from rigid, per-verification pricing and toward a credit-based system, Thirdfort ensured they could easily launch and monetize new features without reworking the entire pricing logic.

To minimize risk, we took an incremental approach, interviewing a select group of new customers to validate the structure. We also developed a phased roadmap for features to be rolled out to support Thirdfort’s teams during the launch.

Outcome: 96% faster closing on a large enterprise deal

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“With our new structure and implementation roadmap, we now close large deals, and customers don’t even bat an eyelid at them. We also sign larger contracts with smaller businesses thanks to our price increases and new platform fee, proving we have the right strategy.”

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Here’s the before-and-after picture from our partnership:

1. 96% faster closing on an enterprise deal
   
2. 96% of top existing customers projected to re-sign
   
3. 15pp increase in estate agent deals’ contribution to overall revenue
   
   

Thirdfort’s new packaging and pricing structure captures the value of their offerings across each customer segment to increase ARR.

We validated the new pricing in September and October 2024 and made any necessary adjustments in Q4 2024 to prepare for launch in 2025. The model has enabled a 96% increase in closing times for an enterprise deal. Estate agent deals have also increased their contribution to overall revenue by 15pp.

The flexible pricing model allows them to close enterprise deals with high ACV and scale revenue from smaller deals, boosting overall ARR.

At the time of writing, Thirdfort has projected that 96% of top existing accounts will migrate to the new structure using Willingness To Pay’s rollout roadmap.