Stephan Heller (Founder, CEO) Robert Rieger





FinCompare

Interhyp for SME Financing

Fintech
Founded in 2016
40 employees
Funding: €14M
Stage: Series A


FinCompare is the “One Stop Shop” for SME financing solutions. The comparison platform enables access to various financing solutions, allowing companies to find, compare, and close on offers from reputable financial service providers throughout Germany.
Website

Highlight of the year: The successful inception in February 2017.


Interview with FinCompare


What inspired you to found your startup?

I learned the problem myself as we were looking for working capital to finance my previous startup, Watchmaster. We were at the right point in time for founding the “Interhyp for SME financing” due to market regulation, high fragmentation, and growing digitization.


How are you different? What is your unique value proposition?

FinCompare is an N-sided marketplace: transactions happen in a 360-degree pattern like a network. That makes FinCompare both a marketplace and network. FinCompare is a one-stop shop for all SME financing needs. We can offer more products and better prices than any single bank in Germany.


How do you define success for yourself and your company?

Our main motivation is creating value for our customers. We want to build the best team in the market, achieve our OKRs by over 70% every quarter, and have fun doing it.


What do you want to achieve next year?

We want to become a market leader in Germany in terms of monthly user growth. Other goals include rolling out our ambitious roadmap and sustainably doubling the team by hiring the best talent.


Why do people want to work at your company?

FinCompare offers an atmosphere of responsibility, accountability, and purpose. We have great colleagues, and create an environment that focuses on goals and outcome, not face time.


What has been the most important milestone so far?

Our biggest milestone were surpassing 100 Million Euros in closed financing volume in less than 12 months after “go live,” and the closing of our financing round with one of the largest banks in the world.


Looking back at your whole development story — what makes you most proud?

It’s fantastic how the team comes together when shit hits the fan. When we miss an important deadline because something unexpected happened, we’re able to get things done in no time. For example, we have built a full bank integration in less than 10 days, while the nearest competitor took 3 months.


Where do you see your company in 5 years?

We will do everything in our power to be a market leader in all major European markets and to be the house bank of the Internet in five years. We’ll allow all SME finance market participants to collaborate together to find, compare and close the best financing solutions.


What is your impression of launching a startup from your based city?

Berlin is still a cool spot for launching a startup because you have got great talent. We all feel that the city is getting more competitive and more expensive. And, of course, Berlin is amazing in the summer, but sucks in the winter.


What is your impression of the german startup scene? Would you change anything?

My point of view is, that German founders are still very risk averse. I would promote more risk taking, but also to stay with it when things get tough and don’t give up too fast. Investors on the other hand should invest more into big ideas then into business plans.



FinCompare was featured in “The Hundert Vol. 10 – Startups of Germany“, November 2018.



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