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Invoice  Discounting Solution

How to disrupt the FinTech industry with the remote development agency


The Story

The idea behind this project is to create an online marketplace connecting SME in need of extra liquidity and investors. After some period of time, the business model transformed into an innovative business previously dominated by banks. Businesses got an opportunity to sell their open invoices to the platform in return for a credit. Crowd-Factoring business model was born. In 2018 became one of the biggest finance platforms in Switzerland handling transactions for over USD 1 million per day.


Being a startup, it faced typical problems of the rapid scaling, such as:

  • Lack of qualified developers

  • Budget restrictions

  • Rapidly increasing operating costs

  • Less scalability with the full-time employees

  • Focus gets blurred as the startup team starts to handle many less important things

  • Missing technical experience


Of course, there are many more problems that startups have to deal with but the ones that we’ve indicated above are common for everyone. Since we started to help startups in 2007, we have indicated the core problems, developed processes and gained the expertise to be able to help startups to overcome the development and operational problems, staying focused on things that are really important for the business.

The Solution

Velmie came up with the banking software solution to deliver the following benefits:


  • Lower capital and operational costs, up to 60% less compared to in-house employees.

  • Extreme scalability of the development team, up to 20 engineers can be assigned in 2 weeks and vice versa. Accelerated time-to-market strategy and resources.

  • Technology and business expertise shared.


In this particular case, we were able not just to provide skilled mid-level and senior engineers, but to share the FinTech expertise we gained in the past several years. After all, the initial product strategy was adjusted and optimized with our help to accelerate the development and make it more efficient. The resources included:


  • 5 to 17 back-end developers at a particular moment

  • 3 to 9 javascript front end developers

  • Project manager and scrum masters

  • 4 manual QA engineers

  • System architect


The Outcome

  • Time-to-market plan successfully executed

  • 45% less spending on the development service

  • FinTech expertise shared with the client to make the informed decisions

  • Long-term development and 24/7 tech support provided


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