Governance.com is ready to take off Paper Jam News

Bert Burman promised himself never to install his fintech in the “old” building. Governance.com moved to… a former bourgeois building on Boulevard de la Foire, 8, in April 2020. Because of the imprisonment associated with the Covid pandemic, his staff was unable to visit, with a smartphone in hand, a vault in the basement, remnants of a bygone era that have survived in many places where the bank once stood. The CEO of Governance.com is having fun today, unhappy to show the offices, which until the end of last year had only a few of the 25 employees, and another was in Amsterdam, where Rob, his twin, is working on technology development.

“We raised three million euros shortly before the pandemic, and that is what allowed us to continue to develop our products,” he explained during a meeting when he and his brother are in Zoom to approach the long-awaited next step: raising 10 million euros. , entrusted to Londoners with Icon Corporate Finance, and which should be completed by the end of the summer, is a success.

  Surprised by the pandemic and its limitations, Governance.com planned to relocate in April 2020.  We had to wait and continue the development of fintech.  (Photo: Modern house)

Surprised by the pandemic and its limitations, Governance.com planned to relocate in April 2020. We had to wait and continue the development of fintech.

(Photo: Modern house)

“Unlike the first initial rounds, we would like to have an investor who already has the experience of scaling to bring us their roller coaster experience. Every time you take a step, you feel like you’ve done the hardest part, but in fact, new deadlines come up regularly, ”explains Bert Burman.

2.5 million euros and 41 new customers

At a time when many technology companies are slowing down before the autumn crisis, Bert Burman is not too worried. “With a turnover of 2.5 million euros last year, we are profitable, and we have an agreement with our shareholders on the convertible, if it fails to do so in time. But there are many funds that still have the capital to invest and that have made promises to their investors, especially in the UK and the US.

For the fifth year in a row, Fintech, which offers solutions that allow investment funds to have a complete picture of the structure of their funds and control system, has doubled its turnover and signed 41 new clients who have joined such heavyweights as Apax, JP. Morgan, BNP Paribas or even TMF Group or Trident Trust. Today, its solution is used in 80 countries, and the workforce is expected to grow from 25 to 50 by the end of the year and to 150 by the end of 2023.

Individual financial management

“Our point of view is completely different from that of many of our competitors,” explains Rob Burman. “When others are only interested in one end of the problem and develop software for it, we are at the forefront of supporting our customers,” which justifies having good-speaking employees with the right local culture, financial world and technical skills.

“It also makes us strong,” adds his brother. “We have limited our activities to asset management, an area much smaller than global, but already very respectable.”

Not to mention that it is impossible to offer a tool for everyone equally. A pud of heritage makes each actor very different from his neighbor. This holistic position of fintech, which was included in this year’s RegTech 100 ranking, means that it takes him six weeks to six months to deploy his decision – “more often than not, we are in the low range,” Bert promises.

In fact, the board sees one aspect, then identifies the second, the third, and so on, until it has an agreed vision and the government implements its decision.

Technology of human liberation

Is it easier than a few years ago to convince the board of directors? “If they see that it gives them a new opportunity to do business, because it’s faster and better than their competitors, yes. Moreover, it is often said that digitization will be accompanied by layoffs. Today we see that the special financial institutions are the people who work for them. Today, anyone can have and process data, but you have to have the right people, ”explains Bert Burman.

“Instead of using resources without achieving goals, we allow them to increase efficiency, reduce stress and give more satisfaction to their customers,” says Rob Burman.

Bert Burman believes that even justifying constant regulatory changes is “somewhat easy.” “The truth is that the changes are known 36 months in advance. Changes over time, yes, but it’s a bit like those students who wait until the last minute before exams to work. There are a lot of rules, yes, but there are also a lot of consulting companies that help them ask the right questions and find our solution. ”

Not to mention that after Ralph Ferner (former CEO of Seb) and Georges Bock (former CEO of KPMG) in early June, the startup announced that it was surrounded by Robert Glesener, who turned Talkwalker into a world leader. and George Valsamidis. With no more startup funds, Governance.com needs to find the fuel to really take off.

This article is taken from Paperjam Trendin’s weekly newsletter, a meeting place for innovation and new technology. You can subscribe to it
clicking here.