Fintech is not just about having a great idea but also the right strategy and motivational mindset. The founders Max and Lars have been among the first residents of the Fintech Lab with their former startup Monera in 2016. Thanks to a funding round of DKK 10 million the startup scaled rapidly hiring up to 45 employees and moving their headquarters to Barcelona. However, they painfully experienced the challenge of scaling too quickly while pivoting with a big team and soon went bankrupt with their startup. However, this did not stop the founders from recapturing the fintech stage. With the motivational mindset to address their former experiences with major cash flow issues, Max and Lars have founded their new startup Likvido and joined the Copenhagen Fintech Lab Incubation Program.
About the journey
By founding Likvido they have made it their mission to utilize the learnings from Monera to support other SMEs in Denmark to deal with invoices in a digital and efficient way, a challenge they have experienced firsthand themselves. Starting with a newly developed idea Likvido has graduated our 3-month incubation program with a refined business model, a licensed live product, investments and several strategic partnerships including pilot projects with large customers:
At Copenhagen Fintech Lab, we welcome entrepreneurial journeys like the one of Likvido, who managed to seize an opportunity from failing with their first idea. Proceeding from and overcoming these challenges shows great motivation and commitment and creates spaces for new ideas. And instead of keeping their learnings to themselves, Lars has shared his expertise with the Lab, holding a knowledge sharing session on outsourced development for our Lost & Founders event series.
Max and Lars “bumpy road” and their efforts to share their story with the Lab community has been a major inspiration at Copenhagen Fintech Lab and show how valuable it is to have an active and engaging community that can build bridges together and learn from each other. We are also looking forward to welcoming Likvido in our upcoming acceleration program that we established together with Accelerace and The Danish Industry Foundation, Danske Bank and Nykredit.
About the founder Sunny Long, co-founder of Pie Systems, originally founded his fintech startup in San Francisco. As part of our Nordic Fast Track Program