Floryn has skyrocketed to success in the 4 years since then, going from 3 employees to over 50 and raising €17.4 million in capital, including €9 million in funding in May of this year. Floryn’s rapid growth has been a huge success, but it also presented the company’s greatest challenge, particularly in the financial technology sector. ‘Consistent growth like that means there is constantly a need to raise capital, both on the equity and debt side,’ Sven explains. ‘Also, if you have a lot of demand and a growing customer base, your backend systems and processes are constantly in need of improvement too. That’s been our main challenge – the systems you set up for your first 100 customers don’t work when you have 10,000 customers, so you have to spend a lot of time on the backend making sure you don’t outgrow yourself.’
‘It really helps us that we plan ahead in 3-month increments,’ Sven adds. ‘It means we have a plan, but it keeps us fresh and open to pivoting and trying out new ideas. Looking back at the last 4 years with Floryn, one of the main reasons we were successful was because we were adaptable – we changed product a couple of times, we changed teams a couple of times. It’s important to keep trying new things without being afraid to fail.’
As one of the fastest-growing fintech businesses in the Netherlands, Floryn was an ideal candidate for Techleap’s Rise Program; it was actually Marijn who applied, after hearing about the program from Techleap staff at an event. ‘My expectations of these things are generally quite low,’ says Marijn, ‘but they said this program was really for us – we had a good amount of revenue, a decent size team and we were thinking of going international, so they sent us a link to apply and that’s what we did.
‘You could see from the start that Techleap was taking this seriously,’ he continues. ‘There was a lot of support, and fantastic people involved like Constantijn and the CEOs from lots of great Dutch companies. It turned out really well for us. The sessions with the mentors were really good; it was a chance to meet with really experienced, successful entrepreneurs and ask them questions in depth – you don’t really get that opportunity anywhere else. It’s equally hard to meet other entrepreneurs that are at the same stage as you are, but with the Rise Program, all the companies are in roughly the same growth phase, so you can really take something valuable from those connections.’