Industry: e-Health, digital
Objective: turnaround / scale up late stage start up from distress

A late stage start-up had failed after 4 years of operations to leverage its technology to the market. The investment willingness of the shareholders had been fully exhausted.

By assignment of the General Assignment a turnaround plan had been concluded. This included financial planning, re-positioning of the product, an IT R&D strategy, to increase customer value, a new business model for sustain value extraction.

Initial refunding was approved by the shareholders. A number of non-institutional shareholders has been acquired, after 15 month, the firm has been prepared for series A at 8 x of valuation when the assignment was accepted.

Drivers for success were:

  • a rigorous change process for customer centricity
  • closing and nurturing of sales & strategic partnerships with globally leading technology companies, to create superior market access
  • a clear strategy for growth and exit, driver for institutional investors to find interest in the firm

The firm has been saved from bankruptcy for 15 month, managing on scarce resources and is starting Series A funding at present.