Stories of Our Users (Part I): Invoice Financing for Ethical Entrepreneurs
For entrepreneurs, it is a dream come true to have the ability to choose their clients. Even though this is a privilege of a few starting their business, Infidia found a model. By providing the unique blockchain-based proof for invoice financing, Infidia joined the BlockStart.
By winning the Ideation Kickoff challenge, Infidia became one of the participants in the BlockStart blockchain initiative (supported by the European Union’s Horizon 2020, grant agreement №828853).
Besides funding, Infidia immediately gained an immense value with mentoring by Fintech expert Ugnius Ramanauskas. During the ongoing mentoring sessions, we were able to define our ideal customer profile. And since our market consists of 22 million companies only in Europe, we added another filter — “sharing the same values.”
For this reason, we targeted and made agreements with companies that are our kindred spirits:
- brave entrepreneurs,
- top performers,
- innovators,
- visionaries.
Above all — all good people and ethical and sustainable businesses.
In a series to follow, Infidia presents some of these companies. We consider these companies our shipmates in sailing together on the sea of entrepreneurship.
mBrainTrain
Thanks to his work but also looks and witty personality, Times magazine named Albert Einstein “Person of the XX Century.” Yet to see, but the entrepreneurial drive could play a notable role in this century election. It is because inventions that shape our reality come from scientists and entrepreneurs such as Google’s Larry Page.
Google’s success came from the ability to find meaning in the data on the Internet. Similar to Google, mBrainTrain is extracting data from analogous processes happening within our brains.
Another similarity is that they managed to create a business out of it by creating a fully mobile, modern-looking wearable device. In the form of headphones, mBrainTrain records and analyzes electrical brain activity.
Both founders hold PhD from the KU Leuven University, one of the oldest and most renowned schools in Europe. And these innovative scientists believe that insights from our brains can be obtained from EEG, should it be reliable enough, mobile, but also fitting our everyday life without interfering with our habits.
And they made it that way, steadily growing and being present across more than 35 countries on five continents. Moreover, this incredible team also participates in evolving society, the latest being the assistance in the Covid-19 response with adaptation and donation of full-face protection masks to medical institutions.
Supporting their expansion and enjoying long hours talks, Infidia aims to help these guys focus on their work. It is because sales to universities and research facilities include too much documentation, and payment often comes with a long delay. Since proof for invoice financing validity comes from massive data flow — mBrainTrain is the perfect shipmate of Infidia.
Therefore, Infidia is automating the documentation flow for invoice financing. Logically, spending time on documentation is irrelevant when innovating and fighting diseases.
Afflon Group
When thinking of entrepreneurship in the 21st century, one would picture Steve Jobs and Jeff Bezos. But no one can give them credits for the similar maltreatment of their employees. Nowadays, a role model entrepreneur fosters sustainable customer experience and care for employees.
A company that serves as an example of this is Afflon Group. Coming back from New York to Balkans, CEO of Afflon knew how to set up an export/import and distribution.
Even though being a distribution company is stressful, the corporate climate of Afflon Group is impressive. Only by visiting their office, one gets empowered by the vibrant energy and exciting products they represent. One of these is a sour caramel candy that became a hit in the schools and kindergartens.
Moreover, their approach to the market is unique, yet based on hundreds of management books. Following famous leaders, their CEO takes the time to visit customers to nourish relations and get feedback from the market.
Seemingly, it is the model of modern entrepreneurship with the people-centric style of Ricardo Semler. To share his abundant experience, the CEO is providing consultancy, too.
For Infidia retail solution, Afflon Group is an example of an ideal customer. Since Infidia tracks the distribution process with our retail software, proving the validity is quite easy. Infidia stores the geolocation of the retail store where their salespeople make orders. Moreover, there are such features, such as photo reporting, as additional proof for invoice financing.
Similar to mBrainTrain, Infidia also supports export/import operations of Afflon Group, too. There is enough proof for invoice financing by covering all documentation during the shipment of goods from South Asia. As a result, Infidia increases the size of Afflon Group operations.
Productivity Tool as a Proof for Invoice Financing
Being an entrepreneur and innovator is hard since it requires a strong mentality. The number of choices one has to make is immense. For this reason, being able to work with kindred spirits as clients hold exceptional value. Logically, developing a sense of companionship helps improve the products while keeping the peace of mind.
Since the entrepreneurial endeavor itself, Infidia knows how cumbersome our clients’ daily routines are. Because of this, our team is aiming to automate all their procedures and processes. By making a process seamless without unnecessary documentation flow, Infidia enables focusing on the strategic decisions. And by with invoice financing, we are helping these businesses grow by tackling the market opportunities.
Due to the guidance of our BlockStart mentors, we are focusing on the manufacturing and distribution companies. Since more software is yet to come, we are always on the quest for highly ethical companies that would be our shipmates on this journey.
Originally published at https://www.infid.app on July 1, 2020.
