Delega: The Venture Leader Fintech developing a user-friendly tool for corporates that simplifies signatory rights management

01.12.2023 09:30, Rita Longobardi

Meet Riccardo Balsamo, CEO of Delega. The Fintech startup is a treasury management application that allows companies to give all their banks access to the information needed to create, remove, and maintain signatory records.

Name: Riccardo Balsamo
Location: Switzerland
Nationality: Italian
Graduated from: Bocconi University
Job title: CEO & Founder
Number of employees: 6
Money raised: CHF 600,000


 

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Can you tell us who your product helps, and how?
Managing banks' signatory rights poses significant challenges for multinational corporations' treasurers and consumes extensive FTE resources for banks. This process is crucial for corporate interactions with their banks but is time-consuming, requiring extensive documentation handling and FTE allocation. In simpler terms, think of Delega as an “intelligent Google Drive” for corporates, empowered by a robust workflow engine that makes interactions with banks effortless but also reduces operational and audit risk.

What market are you addressing, and what is your startup's potential?
Our focus is on the Corporate/B2B Solution market, especially ERP and Treasury Management Systems (TMS). The treasury and risk management software market has the potential to grow by USD 975.62 million before 2024. This potential is substantial, given the increasing demand for solutions that enhance the client experience. Most banks are now strongly investing in providers that help them be perceived as 'easy to do business with,' and after COVID-19, digital solutions are no longer a mirage.

How did you come up with the idea for your startup?
It all began during my banking career. Seeing the struggles of corporate treasurers firsthand has been part of what I have done for many years. Time passed by and no real solution was still available, so one day I decided that someone had to do something about it.

What do you expect from the Venture Leaders Fintech roadshow?
The roadshow is our chance to shine. We aim to meet industry leaders, extend our network, and complete our fundraising. It offers us a unique chance to present Delega’s innovation, attract investors, and establish strategic partnerships essential for our growth, therefore driving Delega's success in the Corporate Banking space.
 
What are your team’s key achievements to date?
We've achieved significant milestones, going live with major corporations and international banks, securing contracts, and generating revenue. On the funding front, we've raised USD 550,000 since inception. Our live MVP has also created a robust pipeline of prospects. The most rewarding part? Hearing compliments from treasurers at large companies every time they use our application.

Is there a key principle guiding your company?
We believe that industry problems need industry solutions: That’s why Delega is harnessing the power of co-creation to build a solution that works for all parties. Since February 2020, Delega has brought together a selection of multinational banks and large corporations in a single working group with the mission of defining a common objective and creating well-established operational standards. As a Fintech, Delega has the role of ‘honest broker’ between corporates and banks.

What’s the most important lesson you’ve learned as a founder?
Persistence is the key! I resonate with a quote from the movie The Founder: "Nothing in this world can take the place of good old persistence. Talent won't." When creating a business from scratch, especially with limited resources like most startups, challenges are inevitable. It’s not about avoiding mistakes but learning how to transform those experiences and obstacles into opportunities for growth.

What is your favorite productivity tool and why?
HubSpot is my go-to. It’s like our digital Swiss Army knife. From tracking conversations to managing tasks and automating emails. In the startup world where you have to do a lot with not so much, being efficient is non-negotiable.

What was your dream job?
As a child, I dreamed of being an inventor, someone who made things better, easier, and created improved versions of existing things. That childhood aspiration has profoundly shaped my professional career and entrepreneurial journey. It's a part of me; when I notice something that isn't working, I can't help but try to make it better.

Do you recommend a podcast you want to share with us?
I highly recommend 'Masters of Scale' by Reid Hoffman, the founder of LinkedIn. The insights shared by successful entrepreneurs align with my vision of innovative problem-solving, making it a constant source of inspiration and learning for me.

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ABOUT THE PROGRAM
The Venture Leaders Fintech 2023 were chosen from over 60 applications by an expert jury. The roadshow in London will accelerate their ventures’ growth and expand their international presence. Venture Leaders Fintech is organized in partnership with Swissnex, and supported by EPFL, ETH Zürich, Postfinance, and Walder Wyss.