SeedBlink Blog

Hendrik Roosna, CEO and Founder of Fairown, is a sustainability enthusiast and fintech expert with over 18 years of experience in asset-backed financing. As an alumnus of Y Combinator's S16 cohort, Hendrik is dedicated to leveraging fintech solutions to foster a circular economy.

Founded in 2008 Fairown has evolved with the digital age of resale, pioneering innovative approaches to payments and customer experience transformation. With sustainability at its core, Fairown is dedicated to reducing unnecessary waste by offering a range of technology products for monthly subscription, managing the entire product life cycle from purchase to recycling.

1. What ‘aha’ moment led to the founding of Fairown?

Developing software for the iPhone Upgrade Plan revealed a scalable solution: empowering brands and retailers worldwide to adopt and thrive with circular consumption models

2. What was your drive back then? What change did you want to make?

Previously, the luxury of crafting circular consumption models was a feat only giants like Apple could achieve. My vision is to democratize this sustainable practice, making it available to all brands and retailers. Within five years, I aim to establish this as the standard: consumers use products and are then guaranteed a fair buyback option

3. How does Fairown contribute to sustainability and circular economy goals, and what specific market gap does it address in asset acquisition?

By offering guaranteed buyback, we remove the burden of resale from the consumer, ensuring that used items enter the secondary market in prime condition and at the optimal time for retaining value. Fairown is dedicated to incrementally improving the world, one transaction at a time, on our mission to enhance the model of consumption a hundredfold

4. How do you scale your business, driving financial success?

We're scaling up through partnerships with renowned brands like Apple, Stihl, Samsung, and LG, integrating circular consumption models into their existing sales channels

5. How does Fairown empower customers to make informed decisions when adopting subscription-based technology solutions?

Fairown empowers customers to make informed decisions by ensuring transparency in our value proposition, especially at the time of purchase. We integrate embedded finance to enhance the attractiveness of our offerings, helping customers appreciate the dual benefits of our model: the flexibility of a rental with the autonomy of ownership. This approach encourages thoughtful consideration of the product's lifecycle, leading to more sustainable consumer behavior.

6. What are potential exit scenarios for investors supporting Fairown?

Investors in Fairown have several potential exit scenarios:

1. IPO Potential: With Fairown’s aim to become a leading checkout option for consumers seeking products without permanent ownership commitments, we anticipate achieving a scale within five years that would position us for a public offering.
2. Acquisition Interest: The unique position Fairown occupies at the intersection of finance, retail, and recommerce could attract substantial acquisition offers from major players in these sectors.
3. Strategic Buyout: Given our innovative business model and trajectory, strategic buyouts may be a lucrative exit avenue as well-established companies look to integrate our solutions and capitalize on the shift towards sustainable consumption.

7. How do you envision the company's future growth within the fintech sector, particularly in the realm of financial services?

We see Fairown carving out a niche in the fintech sector by advancing circular economy principles within financial services, growing to become a key player in sustainable finance and empowering consumers with more flexible and environmentally-friendly purchasing options.

8. Do you have a mentor or person you admire in the tech industry?

It's great to have figures in the tech industry to look up to. Michael Cassau, with his success in gadget rentals through Grover, and Tom Blomfield's innovative approach to banking with Monzo, are inspiring choices, each having made significant impacts in their respective areas within the tech and financial world.

9. Why should investors consider being part of Fairown's journey?

Investors should consider joining Fairown's journey because we are an impact-driven enterprise using fintech to minimize electronic waste and normalize circular consumption. Our approach is not only ethically sound but also financially robust, with an impressive margin exceeding 80%. We boast a highly scalable, asset-light model that has already expanded into nine markets in the seed stage alone, signaling strong potential for future growth and profitability with a sustainable focus.

Explore the opportunity on SeedBlink.