Posted by & filed under Accelerator, Investing.

…or equally bad. When the head of Y-combinator had invested into 720 startups, he said that he can’t predict which of his investments will be successful. We can’t either. Because these are already the best ones and they all should succeed.

Out of 100 startups I have invested in, 3 are bankrupted and some are receiving XX millions of funding. And I was not able to predict that. The fact is that none of us can predict all of the investments right. So now I am trying to learn from our team’s decision making. I am also making a prediction. Let’s see if I’ll be right with it.

But seriously, we have not yet done single unicorns so Y-combinator is clearly ahead of us. But we try harder =).

We invested in all startups on Nordea Fintech Accelerator and today’s pick is Collectly.co

Their promise: increase effect 3-4 fold and do it 90% cheaper. Not a bad promise for a debt collection company. To do that they use AI and profile the debtor. They do profiling by using many sources and automating it all. Then they approach the debtor with the message and channel most effective for this kind of profile. All this automated. The system also keeps on learning to increase the efficiency. Simple stuff and strong value add.

 

They had relevant experience from the field. They had the tech skills as well as an ability to make people listen. They worked well together. I did not find any red flags. But one. I was wondering will they have the attitude “I’ve been there and done that, don’t tell me what to do”. Because the best teams are strong and skilled, yet able to listen and learn. Almost an impossible combination =). But that fear did not materialize. The opposite happened. They were cooperative and also brilliant in using us. And they still do. They make me talk with investors to share our experiences. And because they deliver, it’s easy to talk about them.

The best teams are strong and skilled, yet able to listen and learn.Tweet about it!

So how do we at Nestholma make investment decisions?

We look for great teams with simple, understandable big value add. So, one should always remember to ask the following questions from himself: are the benefits to customers big enough and will they understand it easily? Can the team deliver it? It’s as simple as that.

Ask: are the benefits to customers big enough and will they understand it easily? Can the team deliver it? Tweet about it! 

And my prediction: we’ll hear from the guys at Collectly. A lot.

Click here for Collectly’s pitch.

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