Andrew Bertolina is the co-founder of Finvoice, a SAAS company that offers lending as a solution. However, it did not begin like this. Prior to Finvoice, Andrew worked as a professional investor.
Due to his Masters of Finance at Cambridge, Andrew was able to take his ideas and experience to the next level. Being a part of group projects makes you understand various perspectives. This factor plays a vital role in growing a business. “Small businesses around the world are misunderstood and understudied.”
These concerns caused him to delve into the nitty-gritty of small businesses. He further emphasizes how we tend to underestimate them.“2/3 of the world’s jobs are generated by small and medium-sized enterprises.” Plus, they contribute to 1/2 of the world’s GDP. The company of Finvoice is almost four years old.
The early days
For many startups, product-market fit is an iterative process. From primarily lending, Finvoice transitioned to providing software solutions to banks as well as vendors. First, vendors acted as market opportunities, and demos were carried out with a number of software companies.
“We started picking up customers and learning more along the way.”
Andrew talks about his days of struggle when life was similar to what they show in the Silicon valley television shows. From the time of leaving their apartment till now – it has been an amazing journey for Andrew and his friends.
Sales did slow down in the short term. However, in the long term the current situation has proven to be advantageous for Finvoice. A number of individuals might have the perception that banks are slow to change. However, COVID19 is the right accelerator for many businesses.
Initially, we took collaborative tools for granted. These include Zoom and Slack. Now, they are the real saviors especially for remote teams. The team of Finvoice is spread all over the states. This has proven to be a cost-effective solution.
“Talent is uniformly distributed, cost is not.”
For distributed teams, the homes act as the real offices. There is a Finvoice office in San Francisco which is ceremonial. In the short term, some of the projects have slowed down. Looking at the bigger picture, there has been great progress. The 2020 plan is to move upmarket.