Founders on the front line
Freidrich Hubel – Lendico
We sat down with Friedrich Hubel of Lendico to hear his views on pivoting from B2C to B2B, preparing the team for acquisition and building a sustainable business.
Lendico was founded in December 2013 by the incubator and venture capitalist, Rocket Internet. The team are rethinking financing in Germany by offering companies an easy, fast and good value product. Together with ING, they are helping SMEs realise their full potential by not having to focus on the hassle of raising funds in the traditional way.
What motivates you to come to work everyday?Watch video
How do you build trust and credibility?Watch video
In 2018 you were acquired by ING. Tell us about that experience.Watch video
“Communicating hard evidence and being confident in our decision to pivot has helped us to scale successfully”.Listen on iTunes
“Growth itself is a challenge that needs to be addressed at every step. Everything we learned would work for us as a team of 20 didn't work once we were 40. And everything that worked when we were 40 did not work once we were 80”.Listen on iTunes
“We focus a lot on culture, trying to make sure we’ve got the right balance of transparency and team work. That means we think less about ping-pong tables and more around things like a mental health programme for the whole company”.Listen on iTunes
“In the early days I thought that building a business was a very binary thing. You either rocketed to the moon and everybody made a fortune or you wound up face down in the gutter. I didn’t understand the notion of strong and effective linear growth".Listen on iTunes
“The real reason Lendico exists is to change SME financing. Our users can access a simple and fast product that delivers value. Delivering value leads to success thereby a sustainable business model that allows us to support more SMEs".Read blog
“We exist to serve micro-entrepreneurs and build a sustainable business ourselves. I think that every entrepreneur wants to make the world a little bit better. So we set out to serve a market that was previously underserved and help entrepreneurs fulfil their potential”.Read blog
“One of Zego’s values is that if it’s important then it’s important enough to be challenged. That’s something that I think has helped us a huge amount over the last couple of years, just constantly challenging, iterating it and striving to be the best”.Read blog
“Crowdfunding is a component of what we do, but ultimately we want to be a full-service marketplace for big and small investors, so that people are able to invest in the business as they like".Read blog