You can read this article in Swedish.
Waytobill is not just a company, but a team made of wonderful experts and companions. And so today we are thrilled to launch our new Meet the Team series, to introduce and give voice to our colleagues. And what better way to start than with the masterminds behind Waytobill, Magnus and Alex?
When Magnus and Alex met at a bar in Barcelona, nothing could have foreshadowed the idea of Waytobill. Two years later they are the CEO and CTO of one of the innovation leaders in the fintech industry. So how did they arrive here?
Magnus: We had been working together for a while and we always got along well. Alex is a very open-minded person and I always felt he was a great partner. So, when the time came, I felt that he was the perfect person to start a company with.
Alex: It was the same for me, Magnus has a special talent when it comes to company building. He is a problem-solver and always looks for creative solutions. Starting a new adventure with him seemed like a bulletproof plan, and time has proved us right.
Starting a new company is not a piece of cake, what has been your driving force? What motivates you?
Alex: I love to think outside the box, I appreciate transparency, honesty and trust, but I also want to challenge pre-established things. I want to make the world a better place. I feel that Waytobill is my way to contribute, by making people’s lives easier and helping them in their everyday life.
Magnus: I think I have an entrepreneurial mindset. I am confident, I like to find the middle ground or “lagom” as we say in Sweden. But above all, I like to build things; I like to create and transform an idea into reality. I feel at home in this environment, and I think that the combination between Alex and me has created the perfect scenario for Waytobill to succeed.
Clearly, you are succeeding in the industry, but which challenges have you faced to get to where you are?
Magnus: Like any new business we have had to deal with high levels of uncertainty. It is a very narrow sector we are trying to help and every step we take could lead us to a different path. But we were always very sure of what we wanted to do, and we have and still are keeping the focus on the original plan. Every challenge we have faced has been an enriching experience. I am a sucker for motivational quotes and since I started this experience I often think about Edison when he said “I have not failed. I've just found 10,000 ways that won't work”. We haven’t gone that far, but every uncertainty, every obstacle and every test that has been presented to us has helped us learn and improve both professionally and personally.
Do you think there is a secret formula for success?
Alex: I will say “do it and do it well”. If you embark on an adventure, you must have the right motivation to do it. So, when you start a business, you have to make sure that you are here to do it in the best way you can. This is on a personal level. But the true key to having a successful business is to surround yourself with the best possible team. I always say; “Hire people and let them shine”. There is no utility in being the smartest person in the room when striving towards the same goal. I completely trust my team and I know I can learn a lot from them every day.
Magnus: To create a product that your customers need is also a crucial factor. In our case, we had and continue to have valuable help from our customers to fine-tune and improve the product. With the focus on one segment and solutions to the typical problems in this sector, we have now created a fast-growing company. These things have been key to gaining the trust of our stakeholders. We are very happy about the support from customers and investors.
Let’s talk a bit about the future. Where do you see yourself and where is Waytobill?
Magnus: Waytobill is a wonderful company full of potential. As Alex said, we have surrounded ourselves with a great team and we have created a thriving environment that is giving us great results. With these prospects, and in a fast-growing environment as the payment industry is, we expect to become leaders in Europe within five years.
We hope you have enjoyed getting to know our co-founders and that you are as excited as we are to introduce you to the rest of the team. Get in touch with us if you'd like to find out more about our payment solutions!
