Data-focused Investment Platform That Removes Bias
In 8 months, Uncap received a product that was used to collect and process funding applications.
The company and product
To bridge that gap, and to help equalize opportunities, Uncap connects investors with local business owners.
To make sure that the process of financing is as fair as possible, Uncap leverages a unique, data-based process of screening applicants. The model focuses on each founder's entrepreneurial potential, and with this approach, it enables cutting bias out of the investment process.
Client’s feedback
:quality(90))
Fostering diversity: Monterail's path to innovative excellence
Software is people - from the very first steps of ideation, through discovery and scoping, to the development phase. It's people's needs that are addressed by software, it's people who figure out how to make it happen, and finally, it's people who create it. Being such an essential part of the creation process, it's important to make sure that every person feels equally comfortable and equally engaged. It's also our obligation to others as human beings. At Monterail, we care a lot about observing and learning about ourselves. The more we do it, the more we work on upgrading our processes, the way we conduct meetings, and interact with one another. We pay a great deal of attention to creating an inclusive and diverse workplace. There's still much to do ahead of us. With every step we make, we discover something new. I'm happy to be a part of this discovery process.
:quality(90))
Fostering diversity: Monterail's path to innovative excellence
I strongly believe that everyone should have equal chances to pursue their career goals - whatever they may be. Obstacles can be hidden and hard to spot, especially when you’re part of the dominant social group. And dominant social groups are more often than not the decisio n-makers who shape the organizational reality. There’s a paradox here: we may want to do good, perceive our actions that way, but at the end of the day - that’s not enough. There’s huge value in diversity - different backgrounds, mindsets, and skillsets can open up new perspectives that shape the business and deliver results. It allows for reaching untapped talent pools that don’t fit the “we like to work with people like us” skew which we often follow. Ultimately - working with and learning from a diverse array of people makes you a better specialist, leader, and person. There’s interest for everybody to approach the topic of diversity proactively.
:quality(90))
Fostering diversity: Monterail's path to innovative excellence
Since starting the company in 2010, we have strived to create an environment where all people feel accepted and valued. This has been my experience from outside the business world. However, I quickly learned that maintaining diversity at Monterail has brought us and our clients value by facilitating creativity in our team, who in turn, can create better software.
The Challenge
From an idea to a ready-to-use product.
When Uncap contacted us, they had an expertly-documented idea for the project that outlined the rules and requirements of processing the applications, choosing the most promising ones, applying data-focused screening, and managing the investment rounds (both from the investor and the business-owner perspective).
They also had a set of initial designs for the platform. They needed, however, a technical partner that could quickly develop the product.
Key challenges of the project included:
Translating business vision into a digital product.
Defining constraints, and the most optimal delivery workflow.
Finding the most efficient way of implementing numerous third-party integrations that the platform requires.
The process
1.
Workshops after each milestone to prioritize and structure development
2.
Close collaboration with Uncap to understand and cover edge cases
3.
Understanding business needs to advise on necessary modules to be developed
1.
Workshops after each milestone to prioritize and structure development
2.
Close collaboration with Uncap to understand and cover edge cases
3.
Understanding business needs to advise on necessary modules to be developed
As we worked on the delivery of the product, some of the initial assumptions had to be changed.
We discovered edge cases and restraints that allowed us to fine-tune the product, and that required additional development. These new discoveries resulted in increased complexity of the application but thanks to an agile approach to development, we were able to create a product that caters both to stakeholders and the end-users.
We started the cooperation with a workshop that allowed us to define what exactly should be done in the first place. We repeated this practice after reaching each milestone, which gave us 3 workshops in total.
The workshops we did after each milestone allowed us to agree on the priorities and next steps in the development. Uncap kept providing us with designs that we applied to the live product. Initially, Uncap wished to develop only the dashboard that would allow both the investors and the business owners to track the financial aspects of the investments. During development, however, we agreed that a module for collecting applications is also necessary.
We kept delivering the required pieces until we delivered a working product.
This is how we made it happen:
Workshops after each milestone allowed us to prioritize and structure development.
Close collaboration with Uncap allowed us to communicate edge cases and agree on the necessary extensions in the development.
Understanding business needs, we were able to advise on necessary modules to be developed.
The Outcome
In 8 months, Uncap received a product that was used to collect and process funding applications.
Using the platform, Uncap was able to secure over 4,500 applications. As of December 2021, Uncap is preparing to finalize the first round of funding and release another round of application collection.
They are also looking to increase the automation and data-centricity of the whole screening process.
The success of this project hinged on the following factors:
Understanding business vision and working with Uncap to deliver a platform that fulfills it.
Workshops that helped to structure development and the client’s responsiveness allowed us to release some of the smaller features on the same days they were requested.
Technical expertise that allowed us to efficiently translate business requirements into a working product.
Team’s voice
:quality(90))
Partnership and agility
Our goal was to prepare a web application in accordance with the initial assumptions, which were precisely formulated. These assumptions evolved as we continued to work on the project, and thanks to close cooperation with the Uncap Team and an agile approach, we were able to quickly adapt. Cooperation with Uncap was exemplary and thanks to a partnership approach, we managed to achieve success together.
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