1. Who are you?
My name is Johannes Weidelener, lawyer, and I am partner at Heussen Law.
2. Which services do you sell and who are your competitors?
Heussen Law is a leading law firm in Fintech combing as a team specifically techlaw and regulation law with know how in new business models expanding from, among others, internet banking to crowd financing/investing and software/IT platforms companies. We offer the whole range of Fintech law on base of comprehensive know how with a focus on feasible solutions guaranteeing legal security of the envisaged business. We support new business models sharing future potentials. Thinking entrepreneurially we bring Fintech companies and investors and potential partners together.
3. How did you get your startup idea and how did you finance your startup?
We are partners of internet financial services companies accompanying the change from traditional banking to online/mobile financial services. The Fintech area is a blueprint in startup thinking and learning and for us it is a permanent startup to move this strategic shift in the financial services industry ahead where we can learn from our clients.
We are just setting up together with an UK law firm an internet platform for Fintech law issues.
4. What were the biggest challenges in starting?
The biggest challenge is to keep pace with the fast developments of the Fintech industry. Having a wide network in this area helps definitely to understand the industry and its needs for the right advice.
5. What areas within FinTech do you personally find most interesting and why?
Major disruptive developments are identifiable: crowdinvesting will become an important part of corporate finance. Mobile Payment and new currencies will change the concept of currencies and payment notwithstanding of banks and central banks having not yet embraced these game-changing developments. Algorithms provide a new way of assessment of credit-worthiness.
6. What opportunities do you see for FinTech startups in the DACH region, and how can we help to accelerate it?
The momentum of the tech boom should build a good platform for potential capacities of Fintech companies in the DACH region. My belief is we should heavily work together to ensure that DACH is part the new developments in Fintech. Networking and sharing know how and resources between start up, investors and established players on the market are essential for the success of startups. Altogether more specifically addressed customer needs by Fintech combined with its fast changing technology as regards risks and flexibility of transactions forms the environment for major change in the financial industry starting to accelerate.
7. What tip would you like to give FinTech entrepreneurs?
Speed, reliable partnerships and the right momentum are key factors for success. As regards legal issue a reliable partner makes a difference. Regulation is a hurdle but a solvable one and, thus, no excuse to start business.