Every startup success story tends to begin in the same way; two friends or colleagues identifying a gap in the market, and coming up with an innovative solution to fill it. Just look at Steve Jobs and Steve Wosniak of Apple, or Bill Gates and Paul Allen of Microsoft.
Finyard, an innovative software solutions provider that helps global brands offer their clients cutting-edge applications, boasts a similar story. Company CEO, Dmitrij Pruglo and CGO, Tim Voronin, first met as classmates in a small town, Klaipeda, in Lithuania.
The early years
From the very beginning, Dimitrij and Tim bonded over tech and finance, not yet aware this shared passion would be the foundation for their future success.
After both founders gained extensive experience in the European banking sector, they came together to build their first company; a pioneer in the emerging world of digital assets, that went on to become one of the first to attain a coveted Distributed Ledger Technology licence.
It was then that the idea for Finyard was born; a truly global software development firm, that focuses on creating innovative bespoke SaaS solutions, suitable for the modern and ever-changing finance and technology landscapes.
Attracting top talent
As with all startups, Finyard struggled early on with a number of challenges that Dimitrij and Tim had to overcome, to ensure the company’s continued growth.
Chief amongst these challenges was the struggle to attract exceptional talent; how do you hire the best people, when they don’t know who you are? A hurdle that many early-phase startups often fail to clear, usually to their detriment.
So, Dimitrij and Tim got to work. They reached out to their own personal networks, which had grown extensively over their years in finance, to bring in passionate individuals that understood their vision. And once the core team was in place, it became easier to grow at a quicker pace.
As Dimitrij himself states; “Top professionals enjoy working with others on their level. Once you fill your company with passionate and intellectual individuals, people tend to stick around.”
Identifying the right product market fit
Having addressed the issue of talent, Dimitrij and Tim turned their attention to another of their main challenges; identifying the right product market fit. What were the main services Finyard would provide, that would make it stand out in a highly-competitive space?
Here, the duo decided to follow a maximalist approach; why restrict ourselves to a niche, when we can build products for any need?
The goal then became to find brands looking for innovative tailor-made solutions not readily available on the market, and not only deliver on their requirements, but overdeliver, with advanced features and functionalities that would wow the clients’ user bases.
Finding the perfect home
Fast forward to today, with a team now numbering in the hundreds, Dimitrij and Tim realised it was important for Finyard to find the right place for its headquarters. Although around 70% of the brand’s workforce is remote, having a base of operations was going to be key to continued growth and future success.
That’s where the sunny Mediterranean island, and EU member state, Cyprus, came in. Having grown exponentially as a tech and financial hub over the past decade, Cyprus was the perfect place for Finyard to put down roots, owing to its deep pool of exceptional talent, as well as the country’s business-friendly legal framework.
Finyard’s headquarters is located in Limassol, while the company also has a second office on the island, in the capital, Nicosia, adding to its other two locations globally.
Despite the long road Finyard has already taken to be where it is today, Dimitrij, Tim, and the entire team truly believe the most exciting part of the journey is yet to come.
Having weathered the startup phase, the company now enters the next chapter of its development, where scaling operations, growing the team, and expanding its portfolio of products and services become the main focuses.
The future looks bright for Finyard, as it continues to provide global financial communities with the latest in innovative tech, helping people take control of their finances.
Anyone interested in a role with Finyard, can check out the vacancies currently open. For more information about Finyard and the services it offers, visit the website, or send an email to [email protected].