“Millennials are innovative, life-hungry, creative and demanding internet users, who want their problems solved here and today”
This upbeat philosophy is helping to blast fin-tech company PERSOLLO into the highly competitive, payment innovation arena.
PERSOLLO emerged in response to the voices, perspectives and ideas of young entrepreneurs and creatives, united in their desire for ever more efficient solutions to fast digital sales conversions and quick payment.
Part of Incubate, the fourteen-week University of Sydney program for alumni and students, the founder of PERSOLLO are committed to being successful entrepreneurs.
“We feel very lucky to be a part of the University of Sydney Incubate program,” said founder, Kyrylo Medvediev when we first met him and his partner Olga Oleinikova back in June 2015.
“During the last couple of months we have grown both as a team and a business. We entered the program having an idea and basic preview version of the product, and today we’re a fully working payment service intensively growing our client base.”
We recently caught up with Olga and Kyrylo again, to see how their journey was going.
Lenovo – What does Incubate mean to you, Olga?
Olga – Incubate offers a range of useful workshops, generously introduces start-ups to the network of venture capitalists, angel investors and experienced mentors, and helps to get the early-stage funding. And it’s simply a bunch of the most awesome and enthusiastic people!
Lenovo: We’ve heard that a lot lately about Incubate (laughs), can you tell us more about PERSOLLO?
Olga – PERSOLLO offers an easy and personalised way of getting paid using a simple URL link. PERSOLLO hit the market with a unique value proposition and a niche service (positioned in-between the payment systems and store-builders) that solves a specific problem in the most efficient way.”
The future of PERSOLLO is to become a single hub for the cross-platform financial services and online transactions without the classic bank shell.
Lenovo – Kyrylo, what problem are you solving for people?
Kyrylo – Selling at markets or online and getting paid for services has never been easy. PERSOLLO is a new personalized and straightforward way to sell stuff, make donations or trade services with a simple URL link.
As a seller, whether you are out at a market, or advertising via social networks, blog, email or private message, you can get your customers to pay for your goods/ services with one URL. You don’t need a website or integrated payments system – the product and payment info is housed on one page.
Buyers can find what you want and pay just in one click. You get to avoid the tedious process of browsing the website, choosing the item, adding to the cart, and then going through security checks and verifications. It helps both sides of the transaction to make life easier; we’re so excited about that!
Lenovo – Sounds amazing and really useful, what’s the size of the opportunity for you?
Kyrylo – Our research indicates the global online transaction market is growing by 16% per annum, currently it’s worth $2505 billion.
Lenovo – We can see why you’re driven to make a success of this. What drives you guys personally?
Olga – We’re motivated to simplify how payments work today. We listened to both sellers and buyers, and came up with the idea to personalise payments making the service available across the board without any technical skills needed. Simple.
Given that we are Australian-Ukrainians too, we harbour an ambition to become the global and cross-platform business, making the whole world of online transaction more comfortable.
Lenovo: Finally, what three key lessons can you share with our readers?
Olga and Kyrylo – That’s easy, from the first days of the program we were told that more start-ups fail from a lack of customers than from a failure of product development, so the main lessons we learned are:
(1) the importance of establishing a continuous feedback loop throughout the product development cycle,
(2) constant search for insights and,
(3) strong faith in what we do.
And of course, win customers!
For more information on Persollo go to: http://persollo.com/,
Lenovo is a proud Principal Sponsor of the Incubate program.
More about Incubate: Lenovo YouTube