Stoic at first sight, though unusually restless
Bastiaan, tell us, who are you and what is your background?
I grew up in Veenendaal and was born in neighboring Rhenen. Eventually I left Veenendaal and I went to live in Amsterdam, where I studied Finance at the University of Amsterdam. Within my studies I have emphasized financial models, so in addition to a lot of economics also maths, statistics, a little econometrics and some programming. I particularly enjoyed programming models and I soon found out that I found it even more fun to put beautiful things on the screen. So you are referring to websites, for example, but I have always done that as a hobby. That interest was also at the basis of LoanStreet.
And you became an entrepreneur immediately after your studies?
When I was still studying, I came in contact with Sergionthrough a friend of mine who was a working student at his previous company and so I started working there as a working student. That always clicked very well and after I graduated we started LoanStreet, back then under the name Sparkholder which is still our statutory name. At least, that's the nutshell version hahaha.
Was LoanStreet Sergio his idea? Or did you brainstorm together about that application?
The idea arised gradually, by talking a lot about topics we were interested is. Within his old company, Sergio was always busy arranging financing for clients and how you could subsequently monitor them. I myself was very interested in technology, and from my study background already involved in programming models. Because we talked about it a lot, the dots started connecting.
Previously we received an export from the accounting package from entrepreneurs, which was then read into a specially built Excel sheet. But not long after, the first APIs became available, allowing you to link online to accounting. I think we were the first in the Netherlands to have jumped at that; retrieve data from the accounting system automatically and with 1 click to see where you can borrow money. LoanStreet is therefore a mixture of my interests in technology and his extensive knowledge and experience in the field of financing and risk management.
And for non-techies, what is an API?
Simply put, it is a set of definitions that allows two servers to talk to each other. A recognizable example is that you can share an article from Nu.nl with a mouse click on your LinkedIn timeline. Nu.nl and LinkedIn make a connection 'under the surface' and via LinkedIn you as user give permission to put this article on your timeline. At LoanStreet, the accounting packages offer the API and we query it.
So there is a reasonable age difference between you and Sergio, isn't it?
Yes, that's right, he just turned 51 and I'm 34. We founded the company in 2013 so when I was just 28 and Sergio was 45.
And do you notice anything of it?
I've known Sergio for about ten years, so it doesn't feel strange to me anymore. Ten years ago it might have been a kind of mentor-student relationship, but at some point you outgrow that and you just become equal.
What are the differences between you?
We differ in a number of things that I think we complement each other well. Sergio can be a bit more chaotic and I always try to add a little more structure to it. Sergio also has a lot of contact with customers, both entrepreneurs and accountants. A lot is discussed in these conversations with customers, which leads to new ideas at Sergio. Sergio and I then argue about that and then I try to translate his thoughts into how we can build that into the product. Sergio is also a bit more temperamental and on the other hand I am a bit quieter and sometimes even stoic. An interesting combination as I say it myself haha.
The interview continues below the photo. If you have read enough, you can also immediately check your financing opportunities.
Approximately how many hours do you work in a week?
Frankly, I don't know that exactly. From the moments that I am awake and do not exercise, eat or do something fun with my girlfriend or friends, I do work for the rest of the hours. That therefore differs and depends on my leisure time. On weekdays I think I work around 12 hours a day and then a few hours in the weekends. I just never spend more than 40 hours a week in the office, because I don't like that.
And what do you do in your free time?
"I love going to the cinema with my girlfriend, we both love thrillers and exciting movies, so we try to go once a week.
And what does nobody know about you?
At first glance I seem very calm, but I am really busy so I whistle, hum or sing all day long, it makes my mother crazy when I am with her. Furthermore, well ... my girlfriend always says that I am extremely curious, so I could also read an encyclopedia. I am always googling everything. People sometimes get crazy about this, because when we watch a series, for example, and they talk about something that triggers my interest, I immediately google it. The time I spend reading information about anything and everything takes quite a bit of free time haha. Strange actually, because I don't like reading books at all. It also often has nothing to do with technology, it can be about anything, as long as it is new. And I eat two bananas a day ...
What is the last thing you looked up?
Wait, that's what I'm looking for in my history. It is "Inuit mythology."
Excuse me?
Hahaha, I read: Inuit mythology consists of explanatory stories in which supernatural beings play an important role, narrated within the culture of the Inuit (traditionally also known as Eskimos). These traditions can be described as shamanism with animistic customs.
Learned again ... What is your current role within LoanStreet?
Sergio and I are both drivers. Furthermore, within the company I am mainly concerned with product development. Sergio has a lot of contacts with the end users and the financiers and by working together on the feedback we try to find a way in which we can process that in the application. I translate that to the users.
So you actually manage the IT staff?
Not in the technical field. I am concerned with what should be in the app and how. So I am concerned with the user interface, but the programming team determines how we will build it technically.
How do you see the future of LoanStreet?
Good question ... I get a lot of satisfaction from helping others. That is something we have now translated into the LoanStreet product and we want to help as many entrepreneurs as possible with this. The goal is therefore that you want to become a kind of standard with which entrepreneurs can always arrange their financing quickly and easily.