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Finnik's only way is up and this is why

Each week in The Only Way Is Up, MASTERS introduces the world to startups that are taking the world by storm with a groundbreaking product or service. In this column, founding startups share success, entrepreneurial tips and vision for the future to inspire you. This week it's the turn of startup Finnik, which is digitally ensuring that no person needs to be unsure about buying a car.Text: Patrick Stoffer
Image: FinnikHow annoying is it if after buying a car you find out that it turns out to be stolen or does not quite match the sales pitch of the previous driver. This is very easy to prevent with the right knowledge. And let that be the specialty of the startup Finnik, which was founded in 2016 and is part of the largest party in the field of vehicle registration. By digitally checking the license plate, you won't face any surprises when you proudly show off your new car to your friends. MASTERS spoke to the director of the license plate platform, Daan van Leeuwen.

Started from the bottom and now we're...

"We have been in existence for five years and the Finnik app and website now has more than 1 million active users. By 2020, we received as many as 45 million license plate queries. We are now at the transition point from license plate lookup to a car platform where you can find all the relevant information for buying, selling and driving a car."

Best tip you've had?

"Really listen to your customers and engage with them, invite them to customer nights. Everyone in the team at Finnik answers questions from our customers and we discuss that twice a week in our 'standups'."

Why do you think Finnik is so successful?

"Information is becoming more and more readily available to consumers and we are meeting that need in the automotive sector. We have the most complete and qualitative data in the automotive industry through our cooperation with the largest official RDW provider, which provides vehicle information. We are independent and with that we help consumers when buying and selling their car, among other things, with more and more relevant information to give them more certainty in the process."

What company/service would you have liked to think of yourself?

"I recently became a big fan of the app Gorillas, the delivery service that delivers your groceries within ten minutes. Fantastic and a very promising concept."

What would you do with 1 million?

"Accelerating the process we are in now, so the transition to a full-fledged car platform AND I would make the first international steps."

What bids have there been for your company?

"Finnik is part of VWE Automotive (body that provides vehicle information, ed) and can grow 100% under the wing of VWE the way we want to."

Where do you see yourselves in 5 years?

"Then we grew to a full-fledged car platform that operates internationally, helping millions of consumers internationally buy and sell their cars."

THE ONLY WAY IS UP

THE ONLY WAY IS UP is a column by MASTERS, where the founders of successful startups* are put to the test about their success, mission and future. Each week a new startup is spotlighted, so be inspired! Also curious how startups Felyx, Somnox, BridgeFund, Neurolytics and FIGO Mobility manage to achieve their success? Then read this one.

Your startup also in the spotlight? Mail for the possibilities to Patrick Stoffer (patrick@mastershq.nl).

*Startup: a company no more than five years old focused on rapid growth with an innovative idea: young, ambitious and innovative.