PrimaDollar
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company does
PrimaDollar is a London trade-finance fintech founded in 2015 by Tim Nicolle. It offers low-cost, collateral-free trade finance for exporters, with buyers across Europe, the Middle East, the US, the Far East and Australia and suppliers in Asia and Africa. After a long pivot period, it found product-market fit in mid-2018 and in 2019 financed nearly 2,000 shipments for over 300 clients across 32 countries. In February 2021 it sold its SME export-finance business to Berlin's Modifi to focus on its supply-chain trade finance platform for larger buyers.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Tim Nicolle founded PrimaDollar in the UK to build a simple transactional trade-finance product for exporters.
- Product-market fit
After 3.5 years of pivoting, the team established product-market fit with a fully automated platform.
- Scale
Financed nearly 2,000 shipments involving over 300 clients across 32 countries, claiming a 400% compound annual growth rate for the third year running.
- Sold export-finance business to Modifi
On February 24, 2021, Berlin's Modifi acquired PrimaDollar's SME export-finance client portfolio so PrimaDollar could focus on its supply-chain trade finance platform for medium and large buyers.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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