Startup Focus: FINSO
- Fintech Circle
- February 27, 2023
Finso, a registered trademark of Finso Holding Limited, is a mobile platform allowing customers to take loans for their shopping and cash needs, or pay their shopping by cash.
How would you describe your business in one sentence?
FINSO is designed to digitalise consumer loans that are provided by banks of Bnpl at all kind of sales points from convention trade to e-commerce.
Tell us why your company is a game changer for our industry?
FINSO has the first moved advantage in the market. We create democratic and comparable loan market at out of the branch. We don’t only create win for our partners but also benefits as well. We turn all sales points to new bank branch and all sale person at the floor to bank staff.
Our data infrastructure is very unique and our secret sauce. We got copyright of this features already. This gives chance to all players in our ecosystem to design their own strategy
We have designed and develop our product not for today for future.
What has been your biggest achievement to date?
- Sign with 2 giant banks in Turkey-Banks used to hesitate to work with us but not they understand the chances.
- Signed with more than 300 merchants
- Chosen by Department of International trade UK and invited to the UK
- Runner up by Grant Thornton Abu Dhabi
What has been the greatest challenge leading a start-up so far?
Retails banks hesitate to work with us because they don’t want to be in competitive market but we show our benefits and how we ease their daily process. We work with them and teach and show new market trend. Finally they accept to work with us and now we start to work
What has been the greatest challenge leading a start-up so far?
- 8 o’clock wake up and after shower head to the office.
- Have the first coffee and plan the day and check my To Do List for the current day
- Make the first meeting in team
- Till noon reach key person such as banks side or merchants
- After noon I start my own duties
- I have no exact finish time to back home
- If you feel energetic, meet with friends if now watch something on Netflix
- And sleep around 11-12
What is the biggest lesson you’ve learnt from your fundraising journey?
At the beginning of my journey, I lost my time with non-dedicated investors, some of them just coming to meeting to steal idea or get features for their current investment. I should show all my cards at the first move otherwise investors put me on hold
Your advice to anyone starting out as an entrepreneur?
If they have mental power to cope with everything and patience, I would recommend to everyone who has deep market knowledge.
İzzettin Toksoy, Founder of FINSO
You can connect with İzzettin Toksoy on LinkedIn
