Seven questions, seven answers. Munich startup in conversation with Paymill.
1. Who are you? Please introduce yourselves briefly!
We are Paymill – a Munich-based payment service provider (PSP) for small and medium-sized businesses.
We, Mark Henkel (34), Jörg Sutara (34) and Dr. Stefan Sambol (35), founded Paymill in 2012 after meeting at Rocket Internet Munich.
2. What product do you want to use to change the world?
We want to make online payments as fast, easy, and secure as possible for our customers. When we started, this wasn't yet possible from a single source, and many technical products weren't yet adapted to modern business models, such as recurring payments, SaaS companies, etc. We wanted to change this and establish a PSP for the new digital infrastructure.
3. But that's been around for a long time!
Our aim was to make the implementation as quick and easy as possible through a user-friendly API and good documentation
mentation. We started with just a few lines of code.
Since then, many additional features have been added, such as recurring payments, multi-user functionality, and our PCI-compliant payment form for direct integration into the merchant's shopping cart. Thanks to clear and well-thought-out documentation from the start, integrating our API is child's play for both developers and shop system users.
4. Three ingredients for your recipe for success?
Passion, continuity and the world's best team!
5. Let’s get down to business: How is business going?
We're very satisfied and now serve several thousand customers in over 34 countries – from small retailers to industry leaders like Freeletics. Our teams, whether in product development, sales & marketing, or customer care, work hard every day to further improve the product and provide our customers with the best possible service.
6. What does Munich mean to you?
Munich has heart and mind. Thanks to the TU and LMU, you have highly trained specialists right on site, and the entire startup scene is very personal. While there are fewer events than in other major cities, you regularly meet the right contacts, which makes it easier to connect.
People always say that everyone in Munich is so stuffy, but One should not confuse focus and concentration with philistinism confuse – especially at the beginning it is important not to get distracted.
7. English Garden or Isar?
Definitely the Isar! Because, like us, it's always moving.
Update from April 28, 2016: Paymill has filed for strategic insolvency. The startup is aiming for an asset deal in which the business, including all valuable assets and employee contracts, will be acquired. Read more at startup scene.
Update from October 25, 2016: Paymill found a buyer in July with the fintech company Klik&Pay. As the Munich-based startup You can read how the insolvency was handled in our article.
