Bank Statement Converter

What they built

Bank Statement Converter reads a PDF bank statement and hands you back a clean CSV or Excel file. That sounds small until you are an accountant or small-business owner staring at 40 pages of transactions your bank will only give you as a PDF. Angus Cheng hit that exact wall with his own accounts, wrote code to parse years of his statements, then wrapped it in a website. It is freemium: a few free conversions a day, then paid credits and subscriptions.

The whole thing launched in April 2021 for under $100. No co-founder for long, no funding, no team. One person and a problem he personally wanted solved.

How they did it

Angus grew up in Hong Kong and spent a decade writing software for ATMs, Xbox 360 games, and then financial engineering at Credit Suisse before quitting to build his own thing. He deliberately banked his salary as runway so he could work on the product without pressure.

The growth path was not clever, it was stubborn. He started with Google Ads and knowingly bought users at a loss to learn what converted. He tried cold email until Gmail banned the account. What actually stuck was content and SEO: writing blog posts that answered the exact questions people typed before they needed the tool. He runs the whole operation on a handful of AWS servers for a few hundred dollars a month.

He also builds in public, posting his revenue every single month. That habit is the reason we can cite real numbers instead of guesses.

The numbers

• First full year of revenue was about $10,000, growing month over month from almost nothing.
• By early 2024 he reported roughly $16,000 in monthly recurring revenue.
• By August 2025 the tool made $42,175 in a single month, per his own build-in-public post. source

Still one person. Still bootstrapped. The lesson is boring and powerful: pick a real, dull, painful problem, solve it properly, then show up every month and compound. Figure from his public revenue update, Sept 2025; background and history from his Founder Reports interview.