Rodney Reisdorf, CEO of Verivend, a payments platform operating exclusively in the private capital space, about why this most finance-orientated sector has been left behind by the fintech revolution, and how Verivend is set to disrupt the way transactions take place. By providing a seamless, streamlined platform for moving venture capital and private equity money around, emulating the success of personal payment platforms in transforming how most of us interact with our finances on a daily basis.
We also spoke about the challenges of being a founder and how you can’t always trust the theory, why Verivend asked its funders to invest directly through the platform they were supporting, and why Rodney’s biggest biggest decision might have been pivoting away from his original idea to pursue a more problem-based approach to growing a business. Creating a brand new business category around their private capital-focused platform, Rodney also explains why a comparative description might be the best way to communicate an idea with new potential customers.
Topics Discussed:
- Why being a business founder means confronting the limitations of theory and the messy challenges of real life
- How Verivend was able to onboard investors as early adopters of their payments platform, to the benefit of both parties
- Why flexibility and willingness to adapt are vital for founders looking to build something sustainable
- The history of the ‘wire’ transfer, and why so little has changed in this centuries-old financial service
- Why a ‘this of that’ description can be useful for businesses driving disruptive change, giving customers a reference to understand who you are
- How keeping laser-focused on customer problems will guarantee that they keep coming back for more, and that your business will continue on a solid growth trajectory
Favorite book:
The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers