MTH Unboxing: VEITA

When it comes to mana­ging receiva­bles, com­pa­nies are often facing chal­len­ges. The Pots­dam-based start­up VEI­TA wants to use its soft­ware to help com­pa­nies keep an eye on cash flow, ensu­re liqui­di­ty and streng­t­hen cus­to­mer rela­ti­ons. In the 20th edi­ti­on of MTH Unboxing, the three foun­ders Mat­thi­as Kör­ner, Pierre Sten­gel and Richard Ein­horn tell us how this works.

MTH Acce­le­ra­tor: What did you do befo­re VEITA?

Mat­thi­as: I worked as a manage­ment con­sul­tant at FTI-Andersch, one of the lea­ding rest­ruc­tu­ring con­sul­tanci­es in Ger­ma­ny. I was invol­ved in deve­lo­ping digi­tal pro­ducts and advi­sing com­pa­nies in cri­sis situa­tions. My exper­ti­se was in working capi­tal manage­ment and purcha­sing. This is whe­re I met my co-foun­ders Pierre and Richard.

Pierre: Befo­re foun­ding VEI­TA, my care­er span­ned 15 years; I worked for over 10 years in rest­ruc­tu­ring con­sul­ting at KPMG and FTI-Andersch. In 2016 and 2017, as VP of Ope­ra­ti­ons, I hel­ped build an inter­net mar­ket­place for bro­ke­ring local ser­vices. Most recent­ly, I was Mana­ging Direc­tor of Andersch Digi­tal GmbH, a spin-off of FTI-Andersch that focu­ses on digi­tal inno­va­tions in the rest­ruc­tu­ring environment.

Richard: I have long been inte­res­ted in digi­tal busi­ness models and how com­pa­nies can make sen­se of ever-gro­wing amounts of data to take bet­ter decisi­ons and satisfy their cus­to­mers. I worked in e-com­mer­ce, wit­hin the digi­tal ope­ra­ti­ons team of a lar­ge com­mer­cial bank, and most recent­ly at FTI-Andersch.

MTH Acce­le­ra­tor: What do you enjoy doing when you’re not working at VEITA?

Mat­thi­as: I love jog­ging or hiking in natu­re and dis­co­vering new pla­ces. I also work­out at the gym or play squash.

Pierre: In my free time I like to hike, ski, and tra­vel with my family.

Richard: I fol­low tech trends, do a lot of cycling, and back­pack around Europe.

MTH Acce­le­ra­tor: What is VEITA?

VEI­TA: With VEI­TA, we help com­pa­nies get paid on time. At the heart of our soft­ware is a digi­tal assi­stant that sup­ports small and medi­um-sized enter­pri­ses in mana­ging receiva­bles (i.e. pro­ces­ses rela­ting to invoices, dis­pu­tes, and pay­ments). With our easy-to-use online solu­ti­on, we cover the ent­i­re receiva­bles pro­cess, from the moment the invoice is issued to full pay­ment.
Often, a good under­stan­ding of one’s receiva­bles is alrea­dy a step towards impro­ving one’s liqui­di­ty. This is the rea­son why VEI­TA offers cohe­rent struc­tures, hel­ps com­pa­nies gain more trans­pa­ren­cy regar­ding their key figu­res, and incre­a­ses the speed with which remin­ders and pay­ment remin­ders are pro­ces­sed. This means that it is always clear which things are going well––and whe­re the­re is poten­ti­al for impro­ve­ment.
With our addi­tio­nal services––such as con­nec­ting fac­to­ring and collec­tion ser­vice pro­vi­ders, offe­ring trai­ning on receiva­bles manage­ment, or hel­ping with pay­ment allocation––we also offer our cus­to­mers tailo­red solu­ti­ons that enab­le them to mana­ge all mat­ters with a sin­gle software.

MTH Acce­le­ra­tor: Why the MTH Accelerator?

VEI­TA: As a start­up from Pots­dam, the decisi­on to join MTH Acce­le­ra­tor was a very easy one for us to make. The pro­xi­mi­ty allows us to exchan­ge ide­as with other foun­ders and star­tups from the regi­on and to recei­ve valu­able feed­back to  fur­ther deve­lop our com­pa­ny. Thanks to the broad net­work of experts (inclu­ding HR and sales), we were able to recei­ve fast and effec­ti­ve assi­s­tance that hel­ped us navi­ga­te our challenges.

MTH Acce­le­ra­tor: Why VEITA?

VEI­TA: Digi­ta­liz­a­ti­on pres­su­res, high com­mo­di­ty pri­ces, and rising infla­ti­on con­ti­nuous­ly pose new chal­len­ges for com­pa­nies and their finan­ce depart­ments. The­re is a focus on cost and risk manage­ment so that com­pa­nies have suf­fi­ci­ent liqui­di­ty to pay invoices, wages, and sala­ries in the worst of times. Small and medi­um-sized com­pa­nies in par­ti­cu­lar often still work with old ERP sys­tems that are only par­ti­al­ly able to cope with the­se new requi­re­ments.
This is whe­re VEI­TA comes in. With our 360° receiva­bles manage­ment solu­ti­on, we sup­ple­ment the­se sys­tems with a power­ful com­po­nent so that invoices can be paid on time, liqui­di­ty secu­red, and non-pay­ment risks cor­rect­ly asses­sed. Our easy-to-use soft­ware saves a lot of time and offers users a who­le ran­ge of use­ful fea­tures, such as the abi­li­ty to tem­pora­ri­ly pau­se work­flows and task management.

MTH Acce­le­ra­tor: What is your mission?

VEI­TA: Our mis­si­on is to help com­pa­nies get paid fas­ter and stay liquid.

About the MTH Unboxing

The MTH Acce­le­ra­tor port­fo­lio is gro­wing and gro­wing. But what exact­ly do the teams do and, abo­ve all, what did they do befo­re they beca­me entre­pre­neurs? In MTH Unboxing, our new inter­view seri­es, we shed some light on the sub­ject and intro­du­ce the teams in more detail. MTH Acce­le­ra­tor Babels­berg is the pro­gram for star­tups and foun­ding teams from the metro­po­li­tan regi­on who are loo­king to explo­re tech­no­lo­gies and digi­tal busi­ness models and take their com­pa­nies to the next level.

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