"We buy the on-site data from a good auditor and re-sell the data to other customers of this supplier."David Schneider, CEO and Co-Founder Qualifyze
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"I approached the company for an investment, and they sent me the chief of staff to vet the company. Over a few beers he decided to join me as co-founder, but the company never invested."David Schneider, CEO and Co-Founder Qualifyze
The Founder
This time our guest is David Schneider (https://www.linkedin.com/in/%F0%9F%87%BA%F0%9F%87%A6dr-david-schneider-1100a066/), Founder and CEO of Frankfurt-based Qualifyze (https://www.qualifyze.com/), a startup that helps in the chemical and pharma industry with audits. David did see a lot of places while studying in the Netherlands (Maastricht, Rotterdam), National University of Singapore and Università Bocconi in Italy. He was also and intern with JP Morgan in investment banking in London, Rothschild in Frankfurt, or BASF in Ludwigshafen. Before starting his own company, he was working as a consultant for more than 3 years. He tried to attract investment from a steel trading company, and he convinced the person the company sent to become his co-founder.
The Startup
Qualifyze (https://www.qualifyze.com/) started out as a marketplace for commodity chemical products, called ChemSquare in 2017. They soon realized that in the chemical and pharma industry the required suppliers’ audits are a big hassle and they pivoted to help their clients with digitizing them. These audits are essential for supply chains in the chemical and pharma industry, where faulty ingredients can lead to deaths or damage to equipment or nature.
"We decided to get the supplier qualification on our platform to make the chemical platform work and it turned into a new business model." David Schneider, CEO and Co-Founder Qualifyze
Venture Capital Funding
They raised a Series A funding round, led by HV Capital of 14 mn US$, which was disclosed in November 2021.
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Qualifyze Makes Supply Chains in Life Science And Chemical Industry More Transparent