I enjoyed an eventful interview with Max Rofagha from Finimize recently, who told me about how his service is helping illuminate the often shadowy world of personal finance. Eventful in that a fire alarm went off halfway through. Undeterred, Max returned to share his experience of becoming an entrepreneur, and impart advice to other young businesspeople looking to get started.
The idea behind Finimize came to Max when he was frustrated by his own lack of knowledge about his personal finances. This is an issue that afflicts even the brightest of people. Financial ignorance is something we’ve perhaps become accustomed to, particularly as our banks have for many years predominantly offered products and services ahead of personal financial advice when we needed it most (or didn’t know we needed it).
So yes, Finimize is a news-based platform to help us stay educated about what we can or cannot do with our money, but it’s morphing into Finimize MyLife, which takes Max’s idea to new levels. It’s where you can become your own financial adviser, and Max and his team have a community of 100,000 to get things rolling.
As is often the case with natural entrepreneurs, he brushes over the details of his first sparks of entrepreneurialism, but I pull him back to try to gauge where his motivation lay in his mid-20s, and how he motivates himself now. He talks about the differences in his approach to leadership, and how much more rewarding it can be to run a business that solves real, not imagined, problems.
“I don’t view it as business as much as I view it as building stuff,” he says. “It’s like when you’re a kid and you play with Lego – it’s just really fun to build something. And that’s why I think online businesses are so much fun, because you can build something fairly quickly and get people to use it very quickly. It’s the joy of building something and actually seeing people on the Tube, or wherever you are, using your product. There’s just something very magical about that.”
Thanks again for listening in. I’m always open to discussion about who you think I should reach out to, especially if they’re doing something exciting in fintech. Please leave your comments below, or contact me on Twitter. You can catch other interviews on this page.You can subscribe to this podcast on iTunes.