础苍听Austrian FinTech听plans to significantly expand in the UK听after hitting 100 active users in more than 20 countries.听
痴补濒耻迟颈肠辞鈥檚听data-driven tools reduce the time needed for a business valuation from days to hours.听
With clients听in Europe, the Americas and听South East Asia, it supports valuation experts within accounting and tax advisory听firms, corporate finance and M&A advisors, as well as investment managers.听听
Launched in Vienna in 2017听by Paul Resch, a corporate finance professional听formerly in M&A, it aims听to听level听the playing field in valuation听analysis.听
Resch had become frustrated that, due to lack of data and know-how, professional equity valuations were only available to the world鈥檚听most sophisticated advisors and investors.听听
“When I was working in M&A, I spent many nights听tirelessly working in Excel, which was arduous and subject to error,鈥� he said.听听
鈥淭here was no other tool at the time, which is why I shifted careers from banking to FinTech and created our own valuation tool.鈥�听
The听Valutico听system integrates world-leading databases on market and transaction data alongside听additional sources, providing听users with appropriate data when听they need听it.听
It says its听self-learning听algorithms mimic the thought process of a valuation practitioner, semi-automating key processes.听
痴补濒耻迟颈肠辞鈥檚听product offering includes modules for the valuation of private and public companies, as听well as a marketplace –听MyValutico听–听which听brings together valuation experts with business owners who听need support with valuations.听
鈥淭he UK is the largest exporter of financial services and London is the world鈥檚 financial hub.听With its听convenient time zone and the听manner in which听business is conducted it only made sense to expand our business there,鈥澨�Resch told听老九品茶Cloud.听
鈥泪n terms of turnover the UK is already our largest single market and we will continue to build on that strength.听
鈥�Some of our key clients are based in London and we immediately saw further demand for our platform through referrals and word of mouth. Our London-based team is not just able to serve the wider UK market, but also the US east coast, as well as certain European markets such as Benelux and the Nordics.听
鈥淕iven that our hiring for business development roles is primarily focused on the London metropolitan area we will significantly grow our UK-based team over the next two years.听
鈥�We are also currently building a听customer听success team and given the quality of the applicants, our hiring for that team will likely be strongly focussed on the UK too.鈥�听
Valutico听is听currently serving 40 UK-based clients听and听employs听three full time members of staff, currently working from home due to COVID-19.听听
鈥�The jury is still out on whether work from home听is a net positive for us and society at large, but听we are cautiously optimistic that we can make this a permanent thing and give people more flexibility as to where they want to work from,鈥� added Resch.听
Asked how听has COVID-19听affected his plans for the business, he answered:听鈥泪t鈥檚 hard to say! We have had a very good year, but who knows if it hadn鈥檛 gone even better without the COVID uncertainties.听听
鈥淢aybe prospective clients are even more open now than before to making their operations more efficient. Maybe they also have a bit more time to evaluate solutions like ours, because less time is wasted on meetings and travel.听听
“What can be said for sure is that valuations are very much still in demand, if not more so听than ever. We鈥檝e grown three-fold over the last 12听months听and we are hiring more than ever.鈥�听
Brexit will not impact scaling plans either. 鈥�There are currently some uncertainties around billing and VAT treatment, but these are minor things compared to what other companies听have to deal with,鈥� said Resch.听听
鈥�Overall听it should have a very minor effect on our current business and听future plans听for the UK.鈥�听