Behind the scenes: How Perseus was built

Categories: News, Ventures

1 July 2016 I joined FinLeap as an entrepreneur in residence, working on a project to launch a digital insurance platform, that developed to become the Element venture. 1 July 2017, and, holy moly, I was sitting at the notary signing my own shareholder agreement as a co-founder and managing director of a new company – Perseus.

In front of me – the endless, magical thrill, zeal, independence, and the off-setting weight of responsibility for starting the revolution from my desk, selling the idea to my team, customers, future investors, and having the courage to take big decisions in the fast paced, limited information environment. Comfort zone bygone.

Behind me – a properly tough year, that packed my memory lane and made me reconsider what I thought I knew about business, people, myself. What led to it? I have to start with the people, who were a far more accomplished and versatile bunch that I imagined.They generously taught me how to deal with the really hard things that company building involves, how to always stay focused, put together world-class teams, deliver high quality product down to the last 0.02%, find common language with the press, designers, engineers, risk managers, lawyers.

Working together with FinLeap team to shape what the future of the industry will look like was a truly rewarding experience. Which also made me want to see my ideas develop in a long term.

Thus the next step to commit full-time to my own venture was logical, and after I had a first meeting with my co-founders, there was no doubts. Complementary skills and experience and our shared ideas, and outlooks were a strong base. I have worked closely with investment managers before, have seen what they base their decisions on, and know well that team gets the highest weighting.

The idea for the business model emerged out of numerous conversations I had with local and international, big and small insurers, technology providers, brokers and consultants over the rising demand, increasing complexity, ever-changing substance and lack of experience in cyber insurance.

There was nobody out there to connect the dots and translate the details of technological, behavioral, statistical intricacies into a scalable solution, simple for everyday adoption and use. And this is what I aspire Perseus to do.

Having adopted the fast prototyping approach, we went to market reasonably quickly, and will prioritise the next-step development roadmap based on end customer feedback. There is so much we want to build: a world class team, a world class product, a world class customer experience, which all require a world class effort. But we would not have it any other way.