Kidbrooke’s founder reveals why he’s bullish about the company’s future despite Covid-19

While many businesses may worry about the global pandemic, Kidbrooke’s co-founder Fredrik Davéus is optimistic about the future of the company.

“I realised rather quickly that we’d manage this really well, but that the situation would’ve been completely different if we hadn’t closed an incredibly important deal just before the crisis hit,” the CEO of the WealthTech company told PE Accounting in a new interview. “Two weeks before we’d taken the last step in the process of becoming a company that sells our own software and not just  consultancy hours. The first big deal to this regard is now in place, signed and everything.”

Through the pivot from being a consultancy to becoming a tech venture, he believed that Kidbrooke will be able to leverage the growing demand to understand risk, meaning more clients could be interested in tapping into its solutions.

“For instance, we can help our clients provide self-service offerings with the support of our system and algorithms,” he said. “Everyone will simply be able to make better decisions when they get help with scenarios and risk management on exactly the level they require it.”

Kidbrooke has been on this road for quite some time, having noticed that consulting their clients could easily become long-winded affairs, making it difficult to secure an even flow of assignments. Hence, it turned to software development.

It began this process back in 2018 when its clients began to enlist Kidbrooke’s services to help them develop software solutions, which eventually led to the company developing its own solutions that it sold.

In a recent interview with FinTech Global, Davéus said he planned to disrupt the wealth management industry considerably by automating a lot of the process.

Earlier this year, that attitude landed Kidbrooke a place on the coveted WealthTech100 list and, by the sound of its CEO, the Swedish company is just getting started.

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.