Last week our team had the pleasure of attending the The Marketplace Conference 2024 From connecting with marketplace founders, networking with industry experts to hosting a panel, it was an enriching experience. For those who missed our panel “The Key to Marketplace Success: AI or Financial Services?” with our very own Max Schertel alongside our customers Sebastian Brenner (METYCLE) and Minck Hermans (VonWood), here’s a recap of key insights: ▶️ Financial services are crucial to preventing leakage in a marketplace: Embedding financing adds value beyond simply matching buyers and sellers, effectively discouraging them from bypassing the marketplace for direct trading ▶️ Financing builds trust with sellers, regardless of order size: Being able to guarantee payments to sellers fosters trust, whether it’s a €200,000 copper or a €20,000 timber order. Marketplaces at all GMV levels should consider financing options early on ▶️ Avoid tying up your own equity by partnering up: Initially, using your own equity may be inevitable due to limited traction needed to secure debt. However, leveraging financial services early can help avoid locking up your equity in financing ▶️ Virtual inventory – a promising AI application: One of the most promising AI use cases for marketplaces in traditional industries is virtual inventory. AI can be used to predict the ideal mix of products for orders without the need to physically stock items ▶️ AI innovation is mostly hype for traditional industries, for now: AI isn’t critical for success, yet. Most impactful innovation recently has been the digitization of dealmaking, such as shifting from phone to WhatsApp sales A big thanks to Speedinvest for organizing the conference. See you next year! cc Max Schertel Folley Ogundele Adrian Wolf Varvara Lushnikova Mark Holtmeier Christian H.
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