Our 1st Press Release
The IT department of the future:
- MVP Factory is a leading service provider for digital product development, and an ideal partner for technology and product delivery covering the whole 9 yards from prototyping and design to development and maintenance.
MVP Factory opens the door to more than 250 of some of the best technology, product and design experts around the world, upon request.
- The company offers collaborations – either on fixed-price projects or with a "managed team as a service" with developers who suit the precise needs of the project at hand.
- MVP Factory has a self-developed proprietary platform which supports standardized planning, team setup and client reporting. It facilitates transparency for project progress and quality. Furthermore, by leveraging AI, it improves itself with every subsequent project.
- MVP Factory has successfully completed more than 50 projects in more than 10 different industries, and has achieved operational profitability within a year of its existence.
Digital business models need to be well-designed, efficiently built and largely scaleable. However, most companies in Germany lack the right expertise and long-term vision; they don’t even come close to attracting and deploying the necessary tech talents. Instead, they gamble with intransparent service providers. The main victims of the skill-shortage are, primarily, the established companies that do not adapt their recruitment models to align with the "Future of Work" trends. For example, in five years' time, up to 15% of all developers will have switched to freelance jobs – and the 40-hour working week will have become a relict from the past. Result? A lost battle for tech experts, stagnant digitization and missed opportunities in the face of increasing global competition.
MVP Factory proves that things can be done differently: the platform of founders Philipp Petrescu (ex Co-Founder & MD Lendico, ex VP Corporate Finance Rocket Internet, Venture Partner at HOF Capital and Forbes 30under30) and Victor Cazacu (ex Head of Mobile at N26, ex CTO Eastern Europe at WPP) use the forward-looking shift of the market as an opportunity. "The developments of the labor market and the increasing shortage of skilled workers are one side. Advances in AI and ML the other. This will all have profound implications for software development. MVP Factory is already optimally positioned for this," says co-founder Philipp Petrescu. As a platform for plug & play software development, MVP Factory relies on a worldwide network of experts that are centrally coordinated from the headquarters in Berlin.
The aptly named Elites – more than 250 experts in various disciplines such as frontend / backend development, product management, UX / UI design, machine learning, IoT etc., undergo a rigorous application process. Only 3% of applicants are accepted to join the MVP Factory network. So if a customer has a vague idea of a digital innovation, faces a technical challenge or suffers from a lack of internal resources, MVP Factory should the first point of contact. The company provides a suitable (and always customizable) team of software developers, designers, and product managers. Made-to-measure software products are delivered at fixed budgets without unpredictable quality fluctuations and without cumbersome communication.
The process is simple and transparent: from first prototypes and click-dummies through to elaborate designs to the finished product, MVP Factory provides its customers with regular and clear reports – real-time and end-to-end. The client is kept up-to-date on a regular basis by a specifically assigned engagement manager instead of five different freelancers, and thus interfaces with just one contact person. This eliminates annoying back and forth with multiple stakeholders, lack of coordination and unwanted surprises prior to final product releases.
"We adapt flexibly to the requirements of our customers. As soon as there is an idea, we can implement it. This applies to prototypes that are testing new technologies such as machine learning and AI, but also to individually developed, globally-deployed enterprise solutions. Our aim is to make agile, results-oriented software development accessible to everyone, thus we want to strengthen the innovative capacity of companies," says Petrescu. An important element in realizing these goals is – in addition to the clear communication channels and the strong tech, product and UI / UX competences of MVP Factory – the remote availability of various experts worldwide. That means that customers have continuous access to the best talents on the planet who can work on multiple projects across different time zones. „For our Elites, we’re unlocking true freelancing with great tools that support the whole concept of a decentralized and remote work environment“, says Victor Cazacu. „With security covered, vetted clients and challenging projects, we create a completely new and improved work experience for all sides.“
MVP Factory’s potential has been recognized – also by well-known angel investors like Henrik Kraft and Verena Pausder who invested a high seven-digit figure in the Berlin platform. "In my opinion, MVP Factory is the IT department of the future," says Pausder. "Product development and programming accompany each other, and the customer gets high development quality and maximum process transparency. This is exciting for big startups, medium-sized businesses and corporations alike." So if you want to continue talking about the Future of Work, you will definitely need to mention MVP Factory.
About MVP Factory
MVP Factory empowers companies to build scalable high-quality technology products. Customers benefit from a fully coordinated development process and a global network of talented engineers, designers and product managers.
Whether VC-financed startups, German medium-sized enterprises or multibillion-strong corporations – MVP Factory works with customers of various industries and sizes. As soon as you validate your business ideas, start a tech venture, design a prototype, or realize complex digital transformation projects, MVP Factory is always the right contact partner for you.
About the founders
Philipp Petrescu founded his first company when he was 16 years old. After brief stints at McKinsey and J.P. Morgan, he started his career in tech entrepreneurship as VP of Corporate Finance at Rocket Internet. As co-founder of Lendico, the world's first cross-border P2P lending platform, Philipp Petrescu was active until 2015; he subsequently started to invest in young companies in London and Berlin, including Voya.ai and MVP Factory. In addition, he began advising large corporates on their digitalization and investment activities. Philipp Petrescu is also a recipient of the Forbes 30 Under 30 Award, studied Business Administration at the WHU – Otto Beisheim School of Management in Germany, and is a Fellow of the Konrad Adenauer Foundation.
Victor Cazacu was 23 years old when he started as CTO of Grey Bucharest (WPP). There, he built up and managed the Digital Department and took care of local and regional marketing campaigns for customers like P&G, Microsoft, Unilever, BAT and others. Following Grey, Victor founded a development studio which created and launched a series of iOS and Mac apps that have seen wide worldwide adoption, in use by millions of people. From the founding of his Crypto mining operation, which built its own rigs/ machines and exchanged Crypto, to the founding of the RO Bitcoin Foundation, which has created more awareness for local Crypto startups, his path eventually led him to N26. As Head of Mobile, he lead the development and product definition for iOS and Android until the Series B financing round. After that, he co-founded MVP Factory.