Share

Now We Build
Building a $21bn fintech with 25m customers worldwide - with Oliver Hughes
In this conversation, Oliver Hughes shares his remarkable journey from scaling Visa's operations in Russia to leading Tinkoff Bank and now TBC Bank in Georgia. He discusses the challenges of building a digital bank, the importance of fundraising, and the strategic decisions that have shaped his career. Oliver emphasizes the significance of company culture, the role of technology in banking, and the exciting opportunities in emerging markets. He also highlights the innovative use of AI in enhancing customer experience and the importance of understanding local markets for successful expansion.
Key takeaways
* Scaling Visa from $1 billion to $100 billion was a monumental task.
* Building Tinkoff Bank involved navigating numerous existential crises.
* Fundraising is crucial; without it, there is no business.
* Cultural fit is essential when hiring for a growing company.
* Understanding local markets is key to successful expansion.
* AI can significantly enhance customer experience in banking.
* The importance of a strong company culture cannot be overstated.
* Strategic sequencing in product rollout is vital for growth.
* Emerging markets present unique opportunities for digital banking.
* Building a team with the right mindset is critical for success.
Chapters
00:00 Introduction and Early Career Highlights
02:46 Scaling Visa in Russia
05:32 Transition to Tinkoff Bank
08:21 Challenges and Existential Moments at Tinkoff
11:02 Fundraising Strategies and Investor Insights
14:00 Joining TBC Bank and New Opportunities
16:43 Impact and Changes at TBC Bank
18:29 Building a Profitable Digital Bank
20:58 Strategic Sequencing in Product Rollout
22:24 Cultivating Company Culture During Growth
26:03 Market Entry Strategies and Considerations
31:10 Innovations in FinTech and AI Solutions
More episodes
View all episodes

50. What nobody tells you about building in a regulated industry - with Meri Beckwith
40:13||Season 1, Ep. 50In this episode, Meri shares his journey from VC to founder, the evolution of Lindus, and the transformative role of AI in clinical trials and drug development. Discover key patterns in team building, fundraising strategies, and the future of AI-powered healthcare innovations. Meri is Co-CEO at Lindus, an Accountable Research Organisation (ARO) designed to give biotech and pharma sponsors confidence and control over their clinical trials.In this episode, Sam and Meri also discuss:Meri's transition from VC to founderLindus' evolution and impact on clinical trialsThe role of AI and machine learning in healthcareFundraising strategies and investor relationshipsTeam building and hiring in a regulated environmentNow We Build has partnered with Capquest, an equity and investor relations management platform built for founders who need to track SAFEs, manage their cap table, and keep investors updated without the spreadsheet chaos. If you're raising capital or managing equity, Capquest helps you stay organised from day one. Now We Build listeners can now get 20% off an entire annual subscription with the code nowwebuild20. Use the link here to claim the discount: https://capquest.io/book-demo Timestamps:00:00 Introductions & sponsors01:45 Background04:31 Transition from VC to Founder07:16 The Birth of Lindus10:06 Validating the Idea for Lindus13:08 The Anti-CRO Model15:46 Challenges in the Early Days18:33 Scaling Operations and Hiring21:33 Reflections on Growth Stages24:48 Navigating Investor Relationships26:27 The Evolution of Citrus and AI in Clinical Trials29:50 AI's Impact on Clinical Trials30:59 Building a Company with AI35:03 Quickfire Insights and ReflectionsLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Follow Meri:LinkedIn: https://www.linkedin.com/in/meri-beckwith/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
49. How to know when to double down - with LOW6 CEO, Jamie Mitchell
38:07||Season 1, Ep. 49In this episode, Jamie Mitchell shares his entrepreneurial journey from corporate life at BT to founding LOW6, a pioneering sports engagement and gaming platform. Discover how strategic pivots, international expansion, and relentless determination fueled his success, along with practical lessons on scaling, product development, and navigating investor challenges.Sam and Jamie also discuss:Entrepreneurial transition from corporate to startupScaling a sports engagement platform internationallyPivoting business models in response to market opportunitiesChallenges of fundraising and investor relations in gambling techLeadership and team building in high-growth startupsNow We Build has partnered with Capquest, an equity and investor relations management platform built for founders who need to track SAFEs, manage their cap table, and keep investors updated without the spreadsheet chaos. If you're raising capital or managing equity, Capquest helps you stay organised from day one. Now We Build listeners can now get 20% off an entire annual subscription with the code nowwebuild20. Use the link here to claim the discount: https://capquest.io/book-demo Timestamps:00:00 Intro01:50 From Corporate to Entrepreneurship: Jamie's Journey04:33 The Birth of LOW6: Early Business Ventures07:25 Navigating Challenges in the Sports Marketing Landscape10:33 The Evolution of LOW6: From Betting to SaaS13:01 Scaling the Business: Overcoming COVID and Investor Hurdles15:44 The Shift to B2B: Lessons from the Gambling Sector18:36 Global Expansion: Strategies for New Markets21:22 The Role of AI in Gambling: Enhancements and Opportunities24:01 Looking Ahead: Exciting Developments for LOW6Learn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Follow Jamie:LinkedIn: https://www.linkedin.com/in/jamie-mitchell-51a805168/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
48. From consultant to deep tech founder - scaling additive manufacturing globally with Francesco De Stefano
45:05||Season 1, Ep. 48In this episode, Francesco De Stefano shares his journey from consultancy to deep tech entrepreneurship, focusing on additive manufacturing, team building, product development, and international expansion. Gain insights into scaling hardware startups, navigating investor relations, and leveraging AI in manufacturing.Sam and Francesco also discuss:Journey from consultancy to entrepreneurshipTeam building and co-founder dynamicsProduct development and market fit in manufacturingFundraising strategies and investor relationsInternational expansion and market entry in US, Middle East, AsiaUse of AI in industrial manufacturingNow We Build has partnered with Capquest, an equity and investor relations management platform built for founders who need to track SAFEs, manage their cap table, and keep investors updated without the spreadsheet chaos. If you're raising capital or managing equity, Capquest helps you stay organised from day one. Now We Build listeners can now get 20% off an entire annual subscription with the code nowwebuild20. Use the link here to claim the discount: https://capquest.io/book-demo Timestamps:00:00 Introduction01:50 Francesco's Career Path02:46 From Consulting to Industrial Passion04:08 The Birth of Caracol and Technological Vision05:56 Lessons from Consulting vs Startup World08:44 Building a Complementary Co-Founding Team11:16 Hiring and Culture in Scaling Companies13:57 Identifying Market Gaps in Aerospace Manufacturing15:29 Service Model as a Commercial Strategy19:32 Fundraising Journey and Investor Relations25:48 Lessons from Early Failures and Mistakes29:09 Global Expansion: Markets in US, Middle East, and Asia32:35 Commercializing Deep Tech and Hardware Challenges35:09 Integrating AI into Manufacturing Platforms38:46 Why Keep HQ in Milan? The Italian Ecosystem42:45 Closing Remarks and How to ConnectLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Follow Francesco:LinkedIn: https://www.linkedin.com/in/francesco-de-stefano-8b4b4497/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
How to build in emerging markets | 3 leaders on how to scale businesses in markets that most people overlook
40:36||Season 1What does it actually take to build a financial business in a market most people overlook? In this special episode, we've brought together three of the most experienced builders in global fintech to answer exactly that. You'll hear from:Oliver Hughes, who scaled Visa in Russia, built Tinkoff into a $25 billion digital bank, and is now scaling TBC in Uzbekistan.Tommy Mermelshtayn, Chief Strategy Officer at Zip, who took the business from 30 people to nearly 2,000 across 30 markets. Sammy Ennebt, who has built five banks across two continents - and is doing it all over again in Saudi Arabia.Together they cover:How to identify the right emerging market before everyone else doesWhy localisation is non-negotiable in fintechThe mistakes most companies make when entering new geographiesHow to work with regulators rather than against themWhat the next wave of emerging market opportunities looks likeNow We Build has partnered with Capquest, an equity and investor relations management platform built for founders who need to track SAFEs, manage their cap table, and keep investors updated without the spreadsheet chaos. If you're raising capital or managing equity, Capquest helps you stay organised from day one. Now We Build listeners can now get 20% off an entire annual subscription with the code nowwebuild20. Use the link here to claim the discount: https://capquest.io/book-demo Timestamps:00:00: Intro01:57: Oliver Hughes: Picking the right market 12:20: Tommy Mermelshtayn: The emerging markets playbook27:29: Sammy Ennebt: Why the back office makes or breaks a bankLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Full interviews:Oliver: hereTommy: hereSammy: hereFollow:Oliver: https://www.linkedin.com/in/oliver-hughes-0b5540247/ Sammy: https://www.linkedin.com/in/sammyennebt/Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
47. How personalisation and customer focus built Moonpig - with Jamie Malcolm
33:03||Season 1, Ep. 47In this episode, Jamie shares insights from being on the founding team of Moonpig, evolving marketing strategies, and adapting to digital transformation across industries. Jamie Malcolm is Managing Director of Retail Trust, and has previously lead the marketing at Moonpig, Pizza Express, Nectar Loyalty (Sainsburys) and Samsung. He’s the founder of CAHOOT, Co-Founder of Shoots, and Partner at Positive Momentum. In this episode, Sam and Jamie also discuss:Early marketing challenges and solutions at MoonpigThe importance of customer-centric marketingEvolving marketing strategies with business growthImpact of digital transformation and AI on marketingLeadership and team building in startupsTimestamps:00:00 Intro01:00 The Birth of Moonpig: A Novel Idea03:53 Marketing Challenges in the Early 2000s06:46 Key Marketing Decisions for Success09:30 The Evolution of Marketing Strategies12:13 The Role of Customer Insight in Marketing15:11 Navigating Growth and Change in Marketing17:56 The Changing Landscape of Marketing20:33 B2B vs B2C Marketing Dynamics23:11 The Future of Marketing: Lessons Learned25:59 Core Truths of Great MarketingLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Follow Jamie:LinkedIn: https://www.linkedin.com/in/jamie-malcolm-7676a613/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
46. Creating viral marketing campaigns, and mastering startup pivots - with Andrew Davies
37:02||Season 1, Ep. 46In this episode, Andrew shares his entrepreneurial journey from founding Idio to leading innovation at Paddle. He discusses pivots, fundraising, acquisition strategies, and the future of AI in SaaS, offering valuable insights for founders and marketers.Andrew is Chief Innovation Officer at Paddle, a Merchant of Record providing secure payment infrastructure for over 6,000 software companies around the globe. Andrew was previously CMO at Paddle, VP Corporate Marketing at Optimizely and Co-Founder of Idio. In this episode, Sam and Andrew also discuss:Startup pivots and decision-makingFundraising strategies and investor relationsAcquisition and integration of businessesThe impact of AI on SaaS and product developmentLeadership and organizational culture during growthTimestamps:00:00 - Intro00:52 - Founding Idio: The Journey Begins 03:48 - Navigating Pivots: Lessons Learned 06:29 - The Art of Fundraising: Insights from Idio 09:27 - Mistakes Made: Learning from Early Days 12:21 - Acquisition Insights: The Idio x Episerver Transition 15:05 - Post-Acquisition Dynamics: Adapting to Change 17:55 - Joining Paddle: A New Chapter 20:47 - First Steps at Paddle: Immediate Changes and Challenges 23:01 - Understanding Customer Perspectives 26:21 - Transitioning Roles: From CMO to Chief Innovation Officer 28:58 - The Future of Paddle: Partnerships and Ecosystem Development 34:48 - The Role of Chief Innovation Officer in CorporatesLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Follow Andrew:LinkedIn: https://www.linkedin.com/in/andjdavies/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
The product lessons that changed everything | 3 leaders on what separates good product from great
38:47||Season 1In this special episode, we bring together three of the sharpest product minds we've had on the show. Serial entrepreneur Heikki Haldre, former Intercom and Shopify product director Mark Ryan, and product leader Naomi Fitzpatrick, discuss with Sam:The importance of starting with the problem before building the productStaying close to your customersNever mistaking the technology for the pointWhy the founders who build the biggest outcomes think about their end market from day oneWhy the best product people think in strategies not featuresWhat truly great product teams look like from the insideHeikki Haldre is Co-Founder & CEO of Miros, former CEO at Rakuten Fits.me.Mark Ryan is Co-Founder at Trig, Former Product Lead at Shopify & Intercom.Naomi Fitzpatrick is Product Manager at HubSpot, Former Product Manager at Intercom & Typeform.Whether you're building your first product or leading a team at scale, this one is essential listening.Timestamps:00:00: Intro01:06: Heikki: Exit in mind10:53: Mark: Ship first, perfect later25:33: Naomi: Unsung heroes of great product teamsLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Full interviews:Heikki: hereMark: hereNaomi: hereFollow:Heikki: https://www.linkedin.com/in/hhaldre/ Mark: https://www.linkedin.com/in/mark-ryan-20717636/Naomi: https://www.linkedin.com/in/naomibfitz/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
The marketing advice nobody tells you | 3 CMOs on what actually works
41:54||Season 1Three of the best marketing minds we’ve had on the show, brought together in one special episode. Darren, Rory, and Steve on why story comes before spend, why constraints make you more creative, and why truly understanding your customer is the most underused growth lever in business.Darren Goode has led marketing at L’Oréal, Apple, and Paramount and was formerly CMO at Elvie and Zumper. Rory McEntee is CMO at GymNation, and previously delivered some of Gymbox’s most disruptive marketing campaigns as their Brand & Marketing Director. Steve James is Behavioural Marketing Chief & CMO at Bias Worx, former Marketing Director at Property Finder, Virgin Mobile, and Head of Commerce at giffgaff and EE. In this episode, Sam discusses with the 3 CMOs:Why most brands fail before they’ve spent any money What it really takes to build a story people believe inHow budget constraints can be a secret weaponHow to build a brand community people are genuinely proud to belong toWhy the best ideas come from being close to your customer The counterintuitive power of behavioural marketing What happens when you put customer satisfaction ahead of commercial instinctTimestamps00:00: Intro00:45: Darren: Story Before Spend11:55: Rory: Creativity Under Constraint26:10: Steve: The Behavioural Marketing EdgeLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Follow:Darren: https://www.linkedin.com/in/darrengoode/ Rory: https://ae.linkedin.com/in/rory-mcentee-3746a1aSteve: https://www.linkedin.com/in/steverjames/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant
45. Mastering international markets, from ServiceNow to Paddle - lessons from Jimmy Fitzgerald
40:13||Season 1, Ep. 45Discover insights on building high-performance teams, navigating cultural differences, and leveraging AI for customer relationships. Jimmy Fitzgerald shares his extensive experience in scaling global tech companies, highlighting strategies for international expansion, customer success, and product innovation. Jimmy is CEO at Paddle, a Merchant of Record providing secure payment infrastructure for over 6,000 software companies around the globe. Jimmy has 20+ years of experience helping SaaS businesses scale, previously leading ServiceNow’s customer outcomes team as SVP. In this episode, Sam and Jimmy also discuss:Global market entry strategiesCustomer outcomes and relationshipsProduct platform evolution and AI impactNavigating trust in leadership transitionsCross-cultural management Timestamps:00:00 Introduction00:45 Journey at ServiceNow: Building a Legacy04:24 Entering New Markets: The Asia Experience10:13 Building Customer Relationships: The Art of Listening13:09 Common Mistakes in Geographical Expansion17:48 Transitioning to Paddle: A New Challenge20:43 Navigating Trust in Leadership Transitions25:40 Understanding Paddle's Product Suite29:36 Customer-Centric Leadership and Company Culture33:07 The Impact of AI on Customer RelationshipsLearn more: https://linktr.ee/nowwebuild Did you enjoy this interview? Subscribe so you don’t miss out on future episodes.Follow Jimmy:LinkedIn: https://www.linkedin.com/in/jimmyfitzgeraldpaddle/ Follow Sam:LinkedIn: https://www.linkedin.com/in/sam-marchant/ TikTok: https://www.tiktok.com/@sammrchant Instagram: https://www.instagram.com/sammrchant