MUNICH, iNews.id – In just six months, the software company Personio became one of the start-ups (startup) is the most valuable in Europe, with a value of 6.3 billion US dollars or around Rp. 89.7 trillion.
Personio CEO Hanno Renner tells how startup The company once had only US$226 or Rp3 million left in the company’s bank account before getting its first funding.
The 31-year-old founded Personio in Munich, Germany in 2015 with Roman Schumacher, Arseniy Vershinin, and Ignaz Forstmeier. They met while studying at the Center for Digital Technology and Management, a joint institution of the two main universities in Munich.
The idea of Personio, which focuses on serving small and medium-sized enterprises (MSMEs), started when he heard the complaint of a friend who was struggling to manage the human resource (HR) process at the company where he worked as the Head of Technology because he did not have the required software.
The four young men began to create solutions. As students, they didn’t have an office, so they worked everywhere in the college where they studied to build the first Personio software product. They collect all the savings they have to finance the initial project.
Once they get a paying customer to use their first software, they use the earnings to buy software licenses, rent small office space, and hire a few employees.
Then in July 2016, Personio raised 2.1 million euros in seed funding, with investors such as Global Founders Capital, who have supported LinkedIn and Facebook.
Editor : Jujuk Ernawati