Munich Startup: What motivated you to found the company?
Julia Miller: I would classify myself as “purpose driven”. Therefore, I was particularly driven by the social problem that we can solve with home equity. We create financial self-determination for property owners and thus make a meaningful contribution in the context of old-age provision. In addition, I like to get things done and quickly realised that I am not the type for the classic career path in a large corporation or an investment bank.
Not the type for a classic career
Munich Startup: What would you have liked to know before you founded the company?
Julia Miller: I would have liked to have had an even better understanding of cap table structuring. This is always important in the different stages of business development.
Munich Startup: How has your company been financed so far?
Julia Miller: We started with seed funding and a mix of business angels, family offices and VCs. Then last summer we closed a successful Series A in the low double-digit millions. Our investors include Frank Strauß, Yabeo, Amavi and IVC.
Munich Startup: When and where do you get the best ideas?
Julia Miller: I actually have particularly good ideas in the evening, when I get some rest and have ideally done some sport beforehand. As a founder, you think about the company all the time, so I’ve had some very good ideas in the middle of the night. I then write them down on my mobile phone.
Munich Startup: What are your 3 favourite work tools?
Julia Miller: I swear by Notes, Slack and Miro.
Julia Miller’s pitch tip: “Opposite party must feel real passion”.
Munich Startup: What is your top tip for pitching?
Julia Miller: Actually, there are three points that are always important when pitching from my point of view:
- Your counterpart must feel real passion.
- Know your numbers!
- A clear answer to how your business will make money in the long run.
Munich Startup: Does it seem like a good time to start up right now? Why?
Julia Miller: Yes, absolutely! With the right idea, it’s always the right time to start up. The personal return on investment is simply incomparable. Seen against the current rather difficult economic environment: Experience shows that the more resilient startups emerge in tougher times. And by the time you get to the real scaling phase, the market has probably already turned around again.
Munich Startup: What technology or industry would you focus on for your next startup?
Julia Miller: Keyword Purpose: I would focus on cleantech and healthtech, and clearly on AI applications.
Forced efficiency
Munich Startup: What do you think could be improved in Munich as a startup location?
Julia Miller: The salaries and the high cost of living in the region can be a challenge for young companies, but you won’t be able to change that. On the plus side, the general conditions force you as a startup to work very efficiently.
Munich Startup: Which founder would you like to meet in person? And what would you ask him or her?
Julia Miller: I would actually love to talk to Kris Jenner and ask her about her business secrets and her motivation. She started her career at the age of over 50 and with five children and built up a billion dollar media empire together with her children – absolutely impressive.