AAZZUR Profile
Last Updated: By TRUiC Team
AAZZUR is a fintech startup that is changing the way startups and small businesses think about banking with their API platform that provides streamlined user-friendly banking solutions.
Founder(s): Philipp Buschmann, Martin Damaske
Founded In: 2017
Industry: Tech
Location: Berlin, Germany
Website: https://www.aazzur.com
Interview With Philipp Buschmann
Describe your product or service:
“Whether you’re a startup, a business or a bank, our API platform and smart front-end solutions will enable you to give your customers greater financial freedom.”
Describe your company values and mission:
“We believe in better and smarter banking.”
How are you funded? I.e. venture capital, angel investors, etc.
“Founders and their families, a few angel investors, and a few venture investors.”
How big is your team? Tell us a little about them (I.e. co-founders, freelancers, etc.)
“13 people — out of them, four people are in [the] Executive Team and one person is part-time.”
Did you always want to start your own business? What made you want to become an entrepreneur?
“I started as an IT person but then decided to turn into businessman to inspire people and create value for the world. Then I got an MBA from London Business School and started my journey.”
How did you come up with your startup idea? How did you decide to actually act on the idea? What gave you confidence that you were on the right track?
“Back in 2017, the market was crowded with challenger banks serving to those who wanted better banking experiences, but no one was thinking about how to help to those who are building and growing challenger banks — so we decided that we will service to Challenger banks who are serving to end customer (B2B2C model).”
How did you come up with your company name? Did you have other names you considered?
“We had [an] amazing time during a big team gathering in Austria when we first started our initiative, and at the end of team brainstorming, discussions, and debate, we decided on this name.”
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What is the greatest challenge you faced in starting your business, and how did you overcome it?
“The market was new and unexplored, so it was challenging to find the right business model to fit the market and to fill the gaps in the market.”
Who is your product or service made for? Who is your target market?
“Challenger banks, and also incumbent banks who want to innovate.”
What's your marketing strategy?
“We partner with a well-known PR agency from the UK and also had great advisors helping us with marketing.”
What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?
“Leads, LOIs, contracts.”
What's your favorite book on entrepreneurship?
“‘Start With Why’ by Simon Sinek and ‘Thinking, Fast and Slow’ by Daniel Kahneman.”
How do you achieve work/life balance as a founder?
“Perfectionism is a burden, and teamwork is a success factor. If you are a perfectionist, you will face numerous difficulties. You must believe and rely on your teammates … do not try to micromanage everything. It would not lead you to success. Surely, employees will not despise you as much if you remember this.”
How do you stay motivated?
“Always remember why I am doing all of this.”
Did you have to develop any habits that helped lead you to success? If so, what are they?
“Patience.”
What are you most proud of as an entrepreneur?
“My team.”
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More on AAZZUR
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