This is how we did it – Episode 5 with Lea Frank, Co-Founder and CEO of anybill

In December 2019, Lea Frank and Tobias Gubo co-founded anybill to build a modern solution for the obligation to issue receipts, which came into force in Germany at the beginning of 2020. anybill used the momentum to drive digitalisation and connectivity at the point of sale: the digital receipt was born. Today, the digital receipt is not only a reason for greater sustainability for many retail companies, but also a valuable marketing tool.

In our ‘This is how we did it’ series, we spoke to Lea about her start-up experience. The Covid pandemic has presented anybill with challenges but is also helping to drive acceptance of the product. Lea talks about remote work and team spirit, the right focus in times of crisis and adapting to changing conditions.

What opportunities did the crisis open for you as a young company? What was your biggest learning from this time?

The Covid crisis particularly played into our hands in the sense that digitalisation progressed much faster as a result. The QR code, for example, became widely known. Since then, the trend in retail towards omnichannel and the interconnection of channels has accelerated even more.
In addition, times of crisis are generally times that encourage a stronger focus, especially since the capital markets are tense and capital-efficient growth is a priority.
This “new / more realistic” era with the shift from “growth at any cost” to “capital-efficient management” has more to do with real entrepreneurial success again.
However, the transition from Mode 1 in times when the markets were overheated to Mode 2, today’s reality, is definitely challenging, but once you have made it, you have really proven that you can build a successful company.

What perhaps unexpected developments or challenges did you experience in the initial phase, and how did you react to them as a team?

We hired our first employees in March 2020 – right at the start of the Covid crisis. Of course, we all started working remotely back then, but that wasn’t a problem at all, as we all know that this works very well in these times. As soon as on-site meetings were possible again, we met regularly on site. Since then, we have mainly worked in the office and occasionally from home. However, the majority of the team regularly comes to the office. It is precisely this team spirit that makes us special.

What should founders pay particular attention to when setting up a start-up now?

Think very carefully about which path you want to take, in particular which form of financing suits your own business (e.g. bootstrapped or VC financed), position yourself as capital-efficiently as possible and always maintain your focus.

Is there anything else you would like to share with our readers?

Invest in your network and in as much dialogue as possible with experienced entrepreneurs.