42DBS | X-Europe Startup Interview
Welcome to our X-Europe startup interview series. We have virtually sat down with a number of our founders from past cohorts to hear all about their solutions, vision for the future, and what made them tick during our X Europe programme. So whether you are a deep tech founder looking for startup support, an eagle-eyed investor, or simply interested in the possibilities that technology can bring to society, then we welcome you to take a read. Please meet 42DBS, a startup that focuses on the development, implementation, and sales of the ShakeSpeare Software technology.
Can you briefly explain what your solution is all about? What’s unique about it?
We are focused on delivering a software platform that allows for powerful individualization via a no-code graphical interface. With that, we can deliver solutions for contract and compliance management, as well as legal financial, and risk management processes within an organization. We are unique due to that configurator but also that we have a built-in document generator, document management systems, advanced roles, and rights concept, and many integrations with market leaders such as DocuSign for document signatures, GINI for financial document data capture, etc.
What led you to start or join your company? What is the key motivation and mission behind the startup?
My personal story comes from a large corporate background where I was involved in projects with investment values of over one billion euros (large power plants). We have always been in the premium services segment. After thinking of taking a year off after a 14 years career in the company at a regional position, I was approached by the main founder of Zejn Group with the task to set up business operations in DACH and advance the company to a valuation of one hundred million. We spent eight months working on the planning and strategy and after we have closed the financing I took on the challenge.
What’s the biggest milestone your startup has achieved so far, and what has surprised you most on this journey?
Our biggest milestone is that we are becoming a known brand in the legal-tech field, not only in our markets of operations, but we already get inquiries from other continents, such as Australia and the Americas without even focusing on these markets at the moment.
How has X-Europe helped you during the past few months?
I greatly enjoy connecting with other founders/managers and exchanging information. All the workshops, coachings are invaluable. I get so many new ideas and concepts that it is difficult to keep track of everything new that I want to try out in our company operations.
What are your goals over the next 3, 6, and 12 months?
Stabilize cash flows in the post-covid economy (3 months), advance the sales marketing operation and speed of product/service delivery (6 months) and start with the next stage of expansion and open up a new location (the USA insight) - 12 months.
What advice would you give to an entrepreneur trying to pave his/her way in the Fintech landscape?
Stay focused, invest the time at the beginning with smaller players and clients, as it is easier to start. Remember: big ones work mostly with big ones. Focus on organizations that can decide more flexibly to try out your service/product.
What one piece of advice would you give your 21-year-old self?
Do not be afraid to start a new venture and fail at it, it is awesome and you never lose, maybe money, but every experience you gain is invaluable for the future.
What’s unique about the X-Europe program?
I greatly enjoy the mix of content and approaches as well as the structure of the program. It has great added value for us and I am sure for every company on its growth path, amazing experience.