Fulfin co-founder Nathan Evan reports in our #CoronaUpdate that the Munich startup was hardly affected by the corona crisis. The company provides eCommerce companies with working capital and uses the companies’ goods as security. As a result, online shops can quickly access money, for example to buy new goods. Evans said:
“After the initial shock, it became clear that the crisis presents an enormous opportunity for eCommerce companies. We noticed that very quickly and received more credit applications from existing and new customers.”
The startup provides a digital platform where online shops can apply for loans. Because its processes were already fully digital before the crisis, there was no need for Fulfin to revise their communication with customers, remarked Evans.
His startup was digital in operative terms as well, said Evans:
“Even before the crisis, part of our team worked remotely most of the time. It wasn’t difficult for us to switch to ‘remote first’ mode. Our operative activities weren’t hindered.”
Only one aspect was affected by corona: The move to bigger office space in the Munich Technology Center (MTZ) had to be postponed from early April to early June.
Fulfin: “Since the crisis, the relevance of online retail has increased even more”
As a result, the startup looks back on extremely successful months of corona: In the second quarter alone, Fulfin was able to increase its revenue by a full 200 percent compared to the first quarter.
Even before corona, eCommerce had been growing four times faster than offline retail, said Evans.
“Since the crisis, the relevance of online retail has once again increased, as has the need of online companies for fast and flexible working capital.”
Watch the entire #CoronaUpdate with Nathan Evans of Fulfin here:
By loading the video, you agree to YouTube’s privacy policy.
Learn more