Hello, who are you?
Hi, I am Sara Green Brodersen, the founder and CEO of Deemly.
Tell us more about Deemly! How does it work?
The sharing economy is growing but there is still a barrier of trust between strangers. For example, can I trust people coming to stay in my apartment if I rent it out via Airbnb? At Deemly we enable users to aggregate their personal ratings and reviews from across platforms into one Deemly score, which gives an indication of how trustworthy the user is based on previous interactions with other users. In this way we hope to increase trust on all peer-to-peer sites, so users can benefit from the great opportunities out there.
What motivated you to start Deemly?
I wrote my Master’s thesis on the sharing economy and realised that there was a need in the market for a way to increase trust. The platforms (like Airbnb) want more people to take part in the sharing economy but a lot of people are afraid to do so. I figured that Deemly would be the perfect solution because it’s also easy for the user to understand, unlike complicated background checks etc.
In your opinion, which are the biggest challenges for entrepreneurs who wish to start, or are in the process of starting, their own company?
I think the uncertainty is a big issue. Especially if you, like me, had a good job with pension, health insurance, etc. Furthermore, I think most people find it difficult because they feel like they need to know it all – but you cannot. I have found that there are A LOT of people out there who are willing to help you – you just need to ask.
What’s your advice for businesses in need of financing?
There are several ways to go about getting funds: public funding, competition prizes and private investments. But I also know a lot of startups have had success with crowdfunding campaigns!
You mentioned crowdfunding, so I guess you have heard about other alternative ways to finance businesses as well, like crowdlending. What do you think about those?
Yes, since we know the peer-to-peer market, this is something we’ve looked at too. I really like the idea of peers supporting each other. In crowdfunding, it’s also a great way to show traction and test your product even before you have a finished offering. We’ll see those forms of financing grow a lot in the coming years and it’ll be interesting to see how traditional financial institutions will react.