Startup Spotlight is a series of Q&A articles about Stockholm Fintech Hub members. This week's startup is Stockholm-based financial technology development house Näktergal. If you would like more information about this company, you will find their website address further down the page.
Q: Tell us about your company – why you started it and how it is going.
A: "We were working in the finance industry and couldn't build the system we wanted – maintaining legacy systems, integrating, and the all the small things that comprise a business kept us busy. Then, we started to look for a system doing what we wanted and couldn't find one. Instead of seeing that as a problem, we decided to see a market opportunity. Enter Näktergal."
Q: What stage are you at with the company’s development and funding?
A: "After launching the product in 2016, it is now up and running in Finland, financing >100 million SEK and growing fast, and we are rapidly developing the system while polishing our marketing and sales efforts."
Q: Any advice for someone thinking of creating a fintech startup?
A: "Talk a lot. To many people. And listen more than you talk."
Q: What are the best and worse things about running a startup?
A: "The freedom."
Q: Any predictions for the future of fintech (or your area of expertise)?
A: "Banks will change their monolith systems into a patchwork of best-in-breeds. But it will take time – the old Bill Gates saying that less happens in a year than anybody thinks, but more in twenty still seems accurate."