Embedded Finance Review

Lars Markull
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Welcome to the Embedded Finance Review Podcast, hosted by Lars Markull. Join us biweekly as we delve into the transformative world of embedded finance. Each episode features in-depth conversations with the builders and shapers of embedded finance, who are integrating financial services into everyday products and experiences. We go beyond the surface to explore the relevant details, ensuring a comprehensive understanding of how embedded finance is reshaping vertical SaaS, marketplaces, and more. Perfect for professionals, enthusiasts, and anyone curious about the evolving financial landscape.

  1. From Quote-to-Cash: PandaDoc's Embedded Payments Story with Philipp Pohlmann

    -1 J

    From Quote-to-Cash: PandaDoc's Embedded Payments Story with Philipp Pohlmann

    How do you take a document-first SaaS and scale it into a global quote-to-cash platform? In this episode, Philipp Pohlmann shares his journey from fintech founder to scaling embedded payments into one of PandaDoc’s most strategic pillars. He breaks down the product, technical, and organizational challenges of embedding finance in a non-financial platform. Key Takeaways: Lessons from embedding payments for 60,000+ customers worldwide Why “thinking like a fintech” is essential How to design invisible fintech experiences Building global infrastructure with Stripe, Square, PayPal, and Authorize.Net Strategic decision points when an incubation evolves into a core product offering Why not every company needs to become a fintech Visit our website www.embeddedfinancereview.com for more content. This episode was produced by Orama.tv. (00:00) Start (01:19) Introduction and Greetings (01:50) Overview of PandaDocs (02:02) Company Origins and Growth (02:58) Customer Use Cases (06:38) Integration and Payment Features (07:19) Lead to Cash Workflow (11:41) Global Payment Solutions (13:03) Embedded Payments and Adoption (16:40) Acquisition of Denario (21:25) Challenges and Evolution (23:41) Team Structure and Future Plans (30:27) Final Thoughts and Contact Information

    34 min
  2. Embedded Finance Thriving in Central & Eastern Europe (CEE) with Danuta Czapeczko from PragmaGO

    21 AOÛT

    Embedded Finance Thriving in Central & Eastern Europe (CEE) with Danuta Czapeczko from PragmaGO

    🎯 Think embedded finance only happens in the US and Western Europe? Think again In this episode, Lars dives deep into the thriving embedded finance ecosystem of Central & Eastern Europe with Danuta Czapeczko, an industry veteran from PragmaGO - the region's largest embedded lending provider. 🔍 What You'll Discover: Why Poland has 380+ FinTech companies you've never heard ofHow Allegro (Europe's first marketplace) is crushing embedded financeThe surprising transportation and retail innovations happening in CEEWhy Romanian expansion makes more sense than neighbouring countriesHow innovative local banks are helping, not hurting, FinTech growth 💡 Key Insights: The unbanked populations in CEE represent massive untapped marketsDigital adoption rates rival Western Europe, but with unique challengesB2B embedded lending is exploding across e-commerce platformsCurrency complexity and regulatory differences create expansion puzzles 🌍 Featured Markets: Poland, Czech Republic, Estonia, Romania Visit our website www.embeddedfinancereview.com for more content. This episode was produced by Orama.tv. (00:00) Intro(01:24) Welcome and Introductions(02:18) Danuta's Background in FinTech(03:11) Understanding Embedded Finance(04:46) Western vs. Eastern Europe in FinTech(05:57) Challenges in CEE Markets(08:01) Key FinTech Hubs in CEE(11:42) Non-Financial Brands in Embedded Finance(15:17) Transportation and Retail Innovations(17:18) Challenges in Building Embedded Finance Products(24:18) PragmaGo's Market Expansion(26:14) PragmaGo's Offerings and Partnerships(29:23) Conclusion and Contact Information

    31 min
  3. How Procounter is Making Neobanks Useless: Embedded Banking at Scale with Juho Putkonen

    7 AOÛT

    How Procounter is Making Neobanks Useless: Embedded Banking at Scale with Juho Putkonen

    Discover how Procounter, Finland's largest accounting software company, is revolutionising small business banking through embedded finance. Guest Juho Putkonen sits down with host Lars Markull to discuss how they're making neobanks obsolete by building banking services directly into their invoicing and accounting platform. Procounter serves over 100,000 Finnish companies through their accounting software (~13.5% of Finland's GDP in invoices). But they identified a massive pain point: traditional banks were charging businesses around €80 per month just for data transfers between bank accounts and accounting software, with weeks-long onboarding processes. Their solution? Partner with challenger bank Alisa Bank to offer embedded banking at €10 per month with instant data integration. Key Topics Covered: How Procounter achieved 10% adoption of their banking product in just 7 monthsWhy traditional Finnish banks charge €80/month vs Procounter's €10 solutionThe strategic partnership with challenger bank Alisa Bank and why local IBANs matterFuture roadmap: corporate cards, foreign exchange, and real-time accounting integrationWhy invoice financing has great functionality but poor visibility (only 1% adoption despite 10% market need)The importance of embedding sales and marketing, not just functionalityHow one lucky conversation sparked an entire embedded banking ventureWhy embedded finance is becoming the "sexiest area of Fintech"Lessons for non-financial companies looking to build financial services Visit our website www.embeddedfinancereview.com for more content.This episode was produced by Orama.tv. (00:00) Introduction and Welcome(01:38) Guest Background and Location(02:24) Company Overview and Brands(07:53) Embedded Banking Services(12:36) Collaboration with Alisa Bank(21:19) Future Plans and Product Development(26:30) Short-Term Financing Services(33:17) Final Thoughts and Conclusion

    38 min
  4. Bank Partnerships 2.0: Why Fintech Lessons Matter for Embedded Finance with Richard Würl from Redstone

    24 JUIL.

    Bank Partnerships 2.0: Why Fintech Lessons Matter for Embedded Finance with Richard Würl from Redstone

    The partnership landscape between financial institutions and tech companies is rapidly evolving. What started as Fintech startups challenging banks has transformed into a collaborative ecosystem where embedded finance is the next frontier. In this episode, host Lars Markull sits down with Richard Würl from Redstone VC to decode the five partnership models that actually work when collaborating with banks and financial institutions. Richard shares insider insights from Redstone's portfolio companies, including Atlas Metrics (ESG reporting) and Banxware (Embedded Lending), revealing how both Fintech startups and non-financial brands can successfully navigate bank partnerships. Key Topics Covered: The five partnership models every founder should knowWhy banks are increasingly open to partnerships (beyond digitisation)When to approach banks (hint: earlier than you think)Red flags to avoid in bank partnership dealsHow to sell to financial institutions without getting stuck in endless sales cyclesReal-world examples from successful Fintech-bank collaborations Perfect for: Fintech founders, embedded finance leaders, B2B software companies exploring financial services, and anyone building partnerships with traditional financial institutions. Guest: Richard Würl is a Partner at Redstone, a Berlin-based VC firm with a dedicated Fintech and B2B software fund backed by banks and insurers. Redstone specialises in connecting portfolio companies with their extensive financial institution network. Host: Lars Markull is the founder of Embedded Finance Review, which publishes weekly newsletters and hosts industry events focused on non-financial brands launching financial products. Visit our website www.embeddedfinancereview.com for more content. This episode was produced by Orama.tv. (00:00) Introduction to Fintech and Bank Partnerships (00:25) Guest Introduction: Richard Würl from Redstone (02:27) Redstone's Focus on Fintech and B2B Software (03:09) The Value of Fintech and Bank Partnerships (03:33) Investment Decisions and Partnership Angles (05:13) Challenges and Opportunities in Fintech Partnerships (07:45) Insights on Selling to Banks and Insurances (12:36) Examples of Successful Partnerships (20:44) Advice for Early-Stage Startups (33:52) Red Flags and Pitfalls in Partnerships (36:47) Conclusion and Final Thoughts

    38 min
  5. Peace of Mind as a Product: How ToolTime Turned Payment Friction into Their Next Revenue Stream

    10 JUIL.

    Peace of Mind as a Product: How ToolTime Turned Payment Friction into Their Next Revenue Stream

    Marcel Mansfeld, co-founder and CPO of ToolTime, shares how his German craft industry software company successfully launched embedded payments after raising € 55 million. From serving over 20,000 tradespeople with paperless workflows to building ToolTime Pay, Marcel reveals the challenges, learnings, and strategic decisions behind integrating finance into vertical software. Main Takeaways: Timing is everything: Don't rush into embedded finance; build core product maturity and a sufficient customer base first before adding financial servicesOpen banking vs. embedded accounts: Why ToolTime chose embedded banking over open banking APIs for a better user experience, especially for less tech-savvy customersThe pivot lesson: Their initial card-only payment launch failed; bank transfers remain 98%+ of volume in German B2B marketsSell peace of mind, not payments: ToolTime monetises the complete automated billing workflow (invoice → payment → reconciliation → dunning) rather than just processing transactionsLong-term commitment required: Embedded finance isn't a quick win; it demands dedicated teams, ongoing customer service, and continuous product iterationPartnership strategy: How working with Paymi (embedded finance platform) provided the flexibility to build custom user experiencesRevenue diversification: Embedded finance seen as a strategic advantage by investors, moving beyond the core SaaS subscription modelCustomer-driven development: A 50,000+ customer insights database guided their embedded finance roadmap and feature prioritisation Visit our website www.embeddedfinancereview.com for more content. This episode was produced by Orama.tv. (00:00) Intro(01:41) Welcome and Introductions(02:05) ToolTime: Digital Solutions for the Craft Industry(02:56) Going Paperless: The Key Benefits(03:48) Understanding the Ideal Customer Profile (ICP)(05:35) ToolTime Pay: Embedded Finance for Trades(10:01) Future of Payments and Financial Services(18:42) Discussing Open Banking and User Experience(19:19) Challenges with Customer Adoption(19:59) Philosophical Views on Open Banking(21:48) ToolTime's Fundraising and Embedded Finance(23:23) Monetizing Payment Products(25:43) Learning and Adapting in Embedded Finance(27:07) Structuring Payment Product Teams(27:47) Embedded Finance in European Verticals(29:03) Advice for Building Payment Products(29:45) The Importance of Customer Base(30:30) Long-term Commitment to Embedded Finance(33:48) Final Thoughts and Contact Information

    35 min
  6. From Food Delivery to Embedded Finance - Wolt's Journey to Financial Services with Anniina Heinonen

    26 JUIN

    From Food Delivery to Embedded Finance - Wolt's Journey to Financial Services with Anniina Heinonen

    Some companies have Fintech in their DNA, even though they're not from the financial services industry. Wolt, the Finnish food delivery platform, is one of these companies that has built embedded finance operations across Europe. In this episode, host Lars Markull speaks with Anniina Heinonen, Managing Director at Wolt Payments, about how a restaurant platform evolved into a regulated financial institution operating across more than 20 European markets. What started as PSD2 compliance in 2021 has become a suite of financial products. Anniina explains how Wolt has always been a Fintech company, managing payment flows across 30+ markets, requiring financial infrastructure. However, what sets their approach apart is that they don't focus on the direct profitability of financial products. Instead, they focus on whether these services help merchants grow, creating a flywheel effect for their core platform. We explore Wolt's three main products: merchant acquiring, eWallet functionality through gift cards, and Wolt Capital. Wolt Capital is a cash advance solution which provides tens of thousands of euros to restaurant partners with automatic, revenue-based repayment. You Will Learn: How PSD2 compliance became a driver for embedded financeWhy controlling payment flows gives platforms advantages in lendingHow to measure success for embedded financeThe reality of managing regulated financial services across 20+ markets with 15 peopleWhy revenue-based repayment works for restaurant lending- Practical advice for non-financial companies building their first financial productThe mindset shift from traditional finance to embedded financeHow Embedded Finance creates competitive advantages for platform businesses. Visit our website https://www.embeddedfinancereview.com/ for more content. This episode was produced by Orama.tv. (00:00) Start (01:33) Introduction and Greetings (02:10) Wolt Payments: An Overview (02:43) PSD2 Compliance and In-House Financial Entity (06:31) Payment Acceptance and Payouts (07:31) eWallet and Gift Cards (07:49) Wolt Capital: Lending Product (21:00) Revenue-Based Payback and Risk Management (29:23) Team Structure and Operations (31:43) Anniina's Career Journey (34:46) Advice for Building Financial Services In-House

    38 min
  7. Build vs. Buy for Embedded Lending: A Founder's Hard-Won Lessons with Mark Hollemann

    12 JUIN

    Build vs. Buy for Embedded Lending: A Founder's Hard-Won Lessons with Mark Hollemann

    Are you thinking about adding embedded lending to your platform? Mark Hollemann, co-founder of Spring (a B2B embedded lending provider that reached $1 million in ARR before shutting down), shares the real story behind build vs. buy decisions in embedded lending. From underwriting engines to debt financing, Mark breaks down what it takes to build lending products—and why most companies should think twice. Key Topics: The three core building blocks of any lending platform (licensing, underwriting, servicing)Why marketplaces are uniquely positioned for embedded lending successHow to evaluate embedded lending providers and avoid common pitfallsThe capital-intensive reality of lending businesses and investor expectationsWhy Europe's fragmented market makes scaling embedded lending especially challengingPractical advice for running a proper vendor selection processWhen to build in-house vs. when to partner with external providers Perfect for fintech founders, marketplace operators, and anyone considering embedded financial services. (00:00) Introduction to Embedded Lending(02:32) Mark's Journey with Spring(03:32) Challenges in Building a Lending Platform(05:26) Understanding Embedded Lending Products(07:44) B2B vs B2C Lending(09:27) The Long Tail of Small Businesses(11:43) Buy vs Build: Key Considerations(16:13) Building Blocks of a Lending Platform(19:09) Understanding Licensing, Underwriting, and Servicing(19:33) Challenges in Underwriting and Lending Models(20:38) Providers and Solutions for Underwriting(23:53) Debt Financing and Initial Loans(26:21) Build vs. Buy: Market Trends and Decisions(27:58) Segmenting the Market of Lending Providers(31:12) Advice for Companies on the Buy Journey(33:44) Excitement in Embedded Lending and Marketplaces(36:41) Conclusion and Contact Information

    38 min
  8. Accountable built an embedded banking product because PSD2 failed them with Tino Keller

    28 MAI

    Accountable built an embedded banking product because PSD2 failed them with Tino Keller

    In this episode, Lars Markull is joined by Tino Keller, co-founder of Accountable, the freelancer-focused finance app active in Belgium and Germany. We explore how Accountable evolved from an intelligent tax assistant into a full-embedded banking solution and why now was the right time to launch their own bank account and card for freelancers. 🔍 Topics we cover: Why open banking wasn’t enough for Accountable’s usersWhat pushed them to launch a fully integrated bank accountHow embedded banking increased user revenue by 20%Building a banking product with BaaS provider SwanWhat the acquisition by Visma means for AccountableFuture plans: insurance, pensions & the CFO-for-freelancers vision 📈 If you’re building in fintech, embedded finance, or SaaS, or want to know what it takes to make a full-stack banking product, this episode is for you. 🔗 More content: https://embeddedfinancereview.com 👨‍💻 This episode was produced by orama.tv (00:00) Introduction (01:53) The idea behind Accountable (03:05) Growth and Market Presence (04:14) Open Banking and Accountable's Evolution (06:14) Challenges and Realisations (07:11) Launching Accountable Banking (10:36) User Adoption and Feedback (19:01) Future of Embedded Finance (22:47) Acquisition by Visma (27:14) Conclusion and Contact Information

    28 min
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À propos

Welcome to the Embedded Finance Review Podcast, hosted by Lars Markull. Join us biweekly as we delve into the transformative world of embedded finance. Each episode features in-depth conversations with the builders and shapers of embedded finance, who are integrating financial services into everyday products and experiences. We go beyond the surface to explore the relevant details, ensuring a comprehensive understanding of how embedded finance is reshaping vertical SaaS, marketplaces, and more. Perfect for professionals, enthusiasts, and anyone curious about the evolving financial landscape.

Informations

  • Création
    Lars Markull
  • Années d’activité
    2024 - 2025
  • Épisodes
    33
  • Classification
    Tous publics
  • Copyright
    © Lars Markull
  • Site web de l’émission
    Embedded Finance Review

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