Published on February 20th, 2019

Behind the scenes at PAIR Finance

Meet our portfolio company PAIR Finance and take a look at their office, where debt collection turns into a digital customer experience

PAIR Finance resides on the 5th floor of the fintech hub H:32 office building, within walking distance of Zoologischer Garten and Kurfürstendamm. Upon arrival, a big company logo leads the way to the entrance, and Eddie the office dog welcomes every visitor. The PAIR Finance team, consisting of around 40 people from 8 different countries, is spread across the well-lit room, with a view of the bustling city of Berlin in the background. Spacious office capacities and a grand lobby table offer possibilities for large-scale meetings, and a football table in the middle of the office demonstrates that the team likes to have fun at work as well.

PAIR Finance Büroeingang mit leuchtendem Logo

The office entry at PAIR Finance

This is the place where customers defaulting on payments are turned into well-paying customers again. PAIR Finance offers digital debt collection for companies who want their outstanding claims paid back as fast as possible, without losing a future paying customer. PAIR Finance turns paying back open debts into an easy, quick and customer-oriented process similar to the online shopping process. The company is led by its Founder & CEO Stephan Stricker, COO Fabian Platzen and CTO Dmytro Sharkov.

Fabian Platzen, COO, Stephan Stricker, CEO and Dmytro Sharkov, CTO

The secret formula behind such an innovative debt-collecting approach is a data-based machine-learning algorithm, which continuously learns from every interaction with a customer. The tardy payer gets notified about his outstanding bill via the channels he already uses on a daily basis, such as text message, WhatsApp, email etc., all at the best suitable time and with the most appropriate tone. In total, PAIR Finance has over 30.000 different ways to get in touch with a late-paying customer. Two behavioral researchers and a cooperation with Simply Rational, a spin-off project of the Max Planck Institute for Human Development, are supporting PAIR Finance with the psychology behind this approach. This technique pays off: the average customer responds within the first two hours to a message from PAIR Finance. Via the digital payment link sent within the message from PAIR Finance and just a few more clicks, the customer can send payments in a few seconds – online and completely cashless.

Over 5.000 customers from more than 240 companies, such as Zalando, mydays Jochen Schweitzer Group and Home24, are contacted by PAIR Finance every day. But digital debt collection is not only convenient for E-commerce retailers. Companies from the insurance, energy, online service and telecommunication sectors are profiting from PAIR Finance’s individual and respectful approach to customers.

At the end of the day, the bill is paid and the customer will happily order again from the same company – thanks to PAIR Finance.