Sardex is one of the first fintech companies to have joined the Fintech District community, but it has never ceased to amaze us with its growth, enthusiasm and innovation. Marco De Guzzis, CEO of Sardex S.p.A, tells us about the latest news and his future goals.
Why did you decide to launch this campaign and what do you expect?
Sardex has always worked towards building an active and engaged community. The idea of involving our members in the company’s capital seemed a natural choice. Obviously, the operation is open to the entire investor market. Today Sardex is a solid reality, at the end of 2020 we had 10,000 open B2B accounts and over 120 million transactions in complementary currency: it is the right time to measure ourselves against the capital market and understand how we are perceived, also with a view also to a possible future listing. The first signs on the BacktoWork platform are very positive: in just over two weeks we have 140 subscribers for over EUR 640,000, and we still have a month to go.
How will you use the money raised?
To exponentially increase the benefits for those who are or will be part of the Community. On the one hand, to intensify the growth rate of subscribers and national coverage. The more the community grows, the more opportunities for participants. On the other hand, in technology. SardexPay is a fintech based on people and on a strong and shared value system, but technology is essential for the functioning of the community: marketplace, transactional platform, digital account, e-commerce integration, mixed sardex/euro payments need to be refined and evolved to improve the user experience and release new services.
What are your growth targets for 2021?
With the new 2020-2024 plan Sardex has changed its pace. In 2020, the number of new members grew by 78%, transactions exceeded 120 million goods and services exchanged without touching a single euro; we covered 15 regions in Italy, we doubled revenues from new services offered to members to finance investments in complementary currency and involved employees. The year 2021 should further strengthen these trends and the first signs are excellent. For example, new members are growing by over 80% and 145% in the new geographies.
The role of sardex and fintech in the pandemic
The pandemic has been a great accelerator in terms of the adoption of new technologies for many people and businesses. In a context that was certainly not easy, Sardex managed to fulfil its mission: to be at the service of the SME sector and offer them complementary credit instruments, opportunities to intercept and acquire new customers and manage collections and payments in an absolutely punctual manner. According to the ISTAT report on competitiveness, 48% of Italian SMEs risk collapsing due to a lack of liquidity, missing the train to recovery. We will be at their side. More generally, we are going through a very rapid phase of change and general reorganisation of the economic fabric, which may represent a dual opportunity. On the one hand, for the business system, which can emerge from this situation with renewed knowledge and awareness of many aspects, such as finance and technology. On the other hand, for fintech operators, who must now carve out a leading role for themselves in a market that has seen them emerge, continuall but not yet consolidated properly.
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