Interview with Paul Resch, Founder and CEO of Valutico
Valutico is a FinTech startup that has created a web-based valuation platform, providing the financial services industry and valuation practitioners with data-driven tools to conduct their analysis more efficiently.
We reduce the time it takes to do a valuation from days to hours.With a focus on providing a frictionless valuation experience, we have already signed more than 100 national and international paying clients to the platform.
Valutico works with valuation experts within accounting and tax advisory firms, Corporate Finance and M&A advisors, as well as investment managers in over 25 countries in Europe, the Americas and South East Asia.
How did you come up with the idea for the company?
Out of sheer frustration! I used to spend weeks in Excel whilst working in M&A at Deutsche bank and could not understand why there was not a simpler, time saving solution to conducting valuations. Together with a dedicated group of experts in Software and Data Science, we took matters into our own hands and decided to build a platform that would ultimately change the way valuation analysis is done.
We have simplified the overall valuation process – saving our customers’ time and frustration – and it is rewarding knowing that we are making people’s working lives easier!
What advice would you give to other aspiring entrepreneurs?
1. Focus on one project, and one project only: You might be 10% smarter than the next person, but if you only dedicate 50% of your time you will be out-competed.
2. Build a network of thought leaders in your field, their advice could be instrumental in driving your business (and yourself) forward. Get feedback early on. There’s no need to be secretive about your idea, it’s only 10% of success, the rest is all about execution and for that you need feedback. Also, present your idea to potential clients as soon as you have something to show. If you aren’t a little embarrassed when demoing, you’ve probably waited too long.
3. Be aware that everything takes twice as long and costs twice as much.
What can we hope to see from Valutico in the future?
Our goal is to provide experts with the valuation technology they need to compete in a digitalised world. In the future we plan to develop more valuation-related tools to supply financial service players with valuation-related turn-key solutions based on the latest technology. The US is proving to be a key market for us, watch this space!
For more information visit: www.valutico.com