StartIn: Welcome on our Spotlight series! Can you please give us a quick introduction about yourself and your team, please?
Konrad: Great to be here – thanks for having me!
My name is Konrad Rotthege. For the past 10 years, I worked as an M&A and property lawyer in the financial industry. After completing my law studies and my legal doctorate in Germany, I studied law and economics at the London School of Economics, before starting my career at Freshfields with a focus on M&A transactions. Later in my career, I focused on managing transaction related risks.
My co-founder Andrea is from Italy and has a background in theoretical physics. Like me, Andrea is passionate about property and worked with UBS as an algorithmic trader. Andrea is the tech-master mind behind the Conveyo platform.
Last May, we welcomed Grace Chen, a talented marketer with a track record at global brands such as Porsche and Shopee.
StartIn: Could you share a quick overview of your start-up? Your product, your market / target group, and in which stage are you currently in (MVP, funding, scaling, etc.)?
Konrad: In simple terms, at Conveyo, we make home sales faster and hassle-free.
Through an innovative combination of artificial intelligence, automation and data-driven conveyancing, we are streamlining the property transaction process and turning it into a fast, hassle-free customer experience.
And the results are good: through the efficiencies created by the Conveyo platform, property transactions sign in 4 weeks instead of 4 months.
Conveyo’s platform went live in the first quarter of 2023 and is currently processing transactions. With the next financing round, we plan to expand our capacity and functionality.
Conveyo is currently backed by global VC Antler and part of the HM Land Registry’s award winning Geovation accelerator.
StartIn: That sounds interesting! With your background as a property lawyer you know the industry very well. Still, how did you move forward to test your idea, to validate demand?
Konrad: My industry experience was certainly helpful. Knowing where the problems and inefficiencies lie, is a good starting point. But, to determine if potential customers would be willing to pay for a solution to the problem, we did a lot of customer research and talked to many people who experienced the process and in the industry. The more feedback we received, the better we could articulate our value proposition.
StartIn: And what is your revenue model behind conveyo?
Konrad: Conveyo makes property transactions faster and more certain, cutting transaction time down to 4 weeks. It is mainly a transaction-based revenue model.
StartIn: Got it – and marketing wise, do you have a clear target group and how do you advertise your service to onboard more customers?
Konrad: We were in the lucky position that we received a lot of interest right away so there wasn’t really a need for a big marketing campaign so far. People are frustrated with the way property transactions work today and we can feel that based on the demand for Conveyo.
At the moment, we are experiencing demand from sellers and buyers all over England. We receive requests from estate agents through all segments of the property market and we’re assessing where we can deliver the most value.
StartIn: For the end we like to ask what advice would you give to students who are interested in starting a start-up? Is it better to gain experience prior to starting your start-up or is there no perfect time to start a start-up?
Konrad: Don’t wait for the perfect time, there is no such thing and you might miss an opportunity!
That being said, it’s important to be clear about your own skill set and motivation. Go with your passion. Don’t let anyone tell you, you can’t do it. And don’t give up.
Personally, I find it very helpful to have a co-founder with a complementary skill set who shares my values.
StartIn: Thank you for sharing your story!
Share your personal LinkedIn link: https://www.linkedin.com/in/konrad-rotthege/
Share your company LinkedIn link: https://www.linkedin.com/company/conveyo-uk/?viewAsMember=true
Share your company Instagram handle: @conveyo.io
Share your company webpage: www.conveyo.io
Share any other links (app store etc.):
Are you currently hiring / looking for investors?: we plan to raise funds within the next 6 months.
