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Meet Joachim Kaune! In 2016, he and his partner founded fundflow - a B2B factoring platform that enables businesses to sell invoices and gain liquidity.
It was one of Germany's most exciting fintech startups and enjoyed support from well-known investors and banks.
fundflow relied on the technology partnership with SKIY31. Key expectations of cooperation were:
CTO as a service, to outsource the responsibility for critical operations and further development of the platform
A skilled and cost-efficient dedicated nearshore development team
Direct communication with the developer and their commitment to the project
So, we built a matching technical team for fundflow, including a well-experienced CTO/Solution Architect, a Project Manager, and two Software Engineers. We took complete responsibility for the technical side of fundflow's business model.
During our cooperation, we faced and handled some challenges:
Only we were responsible for the technical part of the platform
We became active partners to fundflow: not just completing assigned tasks but also taking all technical decisions and treating the platform with the same care as if it was our baby.
We had to maintain and develop the platform that was initially created by another team
Sometimes we had to put in extra effort and time to identify and fix certain issues properly.
The budget limitations were significant
So, we tried to keep costs and effort to a minimum while delivering consistently high-quality results.
This is what our development process looked like:
A
Applying a Kanban process for the new features, we assigned each feature and requirement a priority before adding it to the backlog, working on 3-5 items at a time.
B
Weekly tech-review meetings with all stakeholders helped us check progress, identify any blockers, and adjust the prioritization. Additionally, we held a daily sync call to keep up to date with the development team.
C
Closely collaborating with the Product Owner, we managed the backlog, set priorities, and pursued further developments. We also ensured the platform ran uninterrupted, addressing any issues.
D
Additionally, we worked with the customer support team to answer customer inquiries and supported the platform to ensure smooth sales transactions.
So we helped fundflow by providing a skilled remote team:
We built and onboarded the entire team within two weeks, reducing costs by 35% compared to local IT specialists of the same level.
Our team took full responsibility for the technical support of fundflow and became a competent partner who successfully handled development decisions and overcame challenges.
Later in 2022, the founders sold the lucrative business to a competitor for undisclosed compensation.
35%
cost-benefit of comparable German rates
2
weeks we needed to onboard matching specialists
100%
of critical requirements were managed by us
At fundflow, we searched for an IT outsourcing company to further develop our FinTech platform. Within weeks, SKIY31 took over the maintenance of our platform and shipped the first features in an impressive turnaround time.
Who worked on this project
Nataliia - Project Manager
Selva - CTO
Alex - Java Developer
Suresh - React Developer
Why choose us for your app
Pay 30% to 60% less
We provide highly skilled remote teams up to 60% more cost-effective than similar external consultants or in-house teams. We have excellent specialists in our Eastern Europe and Indian teams.
Receive teams that are ready within 2-4 weeks
No cat in a bag: only proven specialists from our team. Each of them goes through three rounds of interviews.
Get impeccable quality ensured by our German standards
Our managers ensure that German standards for quality in development and communication are met.
What you may still think about
How long does work usually take?
We can estimate the time for your project after our first meeting. Then, we will determine your business goals and how you see the perfect product.
Then we will understand what exactly we need to do for you and tell you the approximate project duration.
How much do your services cost?
Each project is unique, so we can't tell you exactly how much your project will cost without having clear requirements.
But we can provide you with our middle developers' average hourly rates to navigate:
India - €25
Ukraine - €40
Poland, Romania - €50
For comparison, local options are significantly more expensive:
German in-house specialists - €60
German freelancers - €96
German agencies - €100+.
What technology do you recommend using for our solution?
Our experts deliver solutions based on various tools, platforms, and technologies. But from our experience, technology should support the business model and perfectly suit your project's idea. So we will be pleased to consider your specific requirements and situation to offer the best solution.
Who will I communicate with?
First, you will meet someone of our managers: Konstantin in Germany and other cases, and Shafeek in India.
The guys will get to know you and discuss our processes, costs, and preparation for work. Then you will have total transparency of the project's progress and direct communication with the whole team.
What do you do besides remote teams?
We design and develop websites, web and mobile applications, and e-commerce platforms. We do branding and marketing. And also, we can dedicate a remote team to help with various services.
Therefore, we can handle most of your challenges. Contact us to discuss details.
Let's create something amazing together.
Get a free valuable 45-minute consultation!
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