Jacob de Geer, iZettle

Future markets, Purpose

We are entering an era where constant re-education and re-invention is key to remaining relevant. Digitalization offers new business opportunities in almost every aspect of consumers’ and customers’ lives. In this podcast episode, we have the pleasure to discuss how to fundamentally change markets with Jacob de Geer, CEO of the hyped Swedish startup iZettle.

In this episode

iZettle has spread quickly across the world by changing the way companies and consumers interact. Co-founder Jacob de Geer has a background that is characterized by entrepreneurship and startups. He was the first employee at Tradedoubler, founded the streaming service Ameibo and media agency Tre Kronor, before starting iZettle in 2010.

The initial idea of iZettle was to simplify mobile payments for small businesses. Today, the business has grown to include all types of financial services for small businesses. According to Jacob de Geer, the traditional financial services infrastructure is built to support large and established businesses. Being a heavily regulated and conservative business, there is a huge opportunity to solve the plentiful frustrations and daily problems that small businesses and new ventures must navigate through. By making it simpler and more accessible to start your own business, iZettle has contributed to the democratization of entrepreneurship. Today, iZettle employs over 400 people and serves hundreds of thousands of businesses around the world. And they are continuously growing fast

Solve fundamental frustrations to change markets

As society at large is transitioning from an industrial to a knowledge based society, Jacob de Geer says we have never seen as many that want to start their own business. He compares the times we live in right now with the gold rush in Klondike – you just have to get in there.

“When someone tells you that it can’t be done because no one has done it yet, then you know that you should just throw yourself into that opportunity. You can always drive change in conservative industries, as long as you’re a little bit naive and have constructive ideas. It’s about constantly finding ways around challenges.”

Jacob de Geer has a mantra that has followed him through his professional career: The sum of all problems that you solve equals the value of your company.

“If there’s a good product-market fit, then the sum of all the problems that we solve for our customers equals our bottom line results”

At Lynxeye, we believe that the future belongs to companies that can drive change with a clear purpose. The kind of companies that solve problems, rather than cause them and the kind of purpose that’s baked into the business model.  A business model with a healthy bottom line, but also a healthy perspective of what the world actually needs.

“There’s a lot of talk about disruption these days”, says Jacob de Geer on how to change markets. “But you don’t really have to be so awfully disruptive, as long as your product solves your customers’ problems better than previous solutions have done. Then you have the prerequisites to fundamentally change markets.”

About Varumärkespodden

Varumärkespodden is produced in cooperation with Dagens Media and the interviewer is always Johan Ekelin, co-founder of Lynxeye. Don’t forget to subscribe in your podcast app and do join the conversation on Twitter with @LynxEyeBC.

The podcast is in Swedish. (Photo: Teodor Axlund)

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