LIFETIME OF ACHIEVEMENT
Add to that a series of UK government U-turns – first , a delay to a planned ban on new diesel and petrol cars , which was expected to come in 2030 but will now be pushed back until at least 2035 ; then , the cancellation of a major leg of a national high-speed rail project – and business confidence in Mangnall ’ s home country is not at its highest .
So what does he make of the founder experience in today ’ s volatile economy ? Mangnall tells us that , were he trying to start a business in an industry with lots of competition and little differentiation , he wouldn ’ t have even attempted it . But he ’ s confident in the problems that Shape are aiming to resolve , and believes in his company ’ s ability to generate value for clients .
“ We ’ ve seen huge amounts of money raised , but that money carries a huge burden and sadly in many cases , large investment rounds have been followed by big detrimental impacts to businesses and the people within those businesses ,” he tells us .
“ Thankfully , we ’ re uniquely positioned . Our technology , our approach and our route to market means that there isn ’ t a bad time to launch . We align with the vision of major card schemes and acquirers and are serving a part of the ecosystem that nobody else is – not to our extent , anyway . Therefore , we decided that the sooner we launch , the better . And so far , that decision is paying off .”
The pressure is real in growth-stage businesses As Shape continues to scale , he will be able to draw on his time spent at growing businesses , which have taught
him a thing or two : “ In an early-stage startup , every single day you ’ re making what feels like huge , life-changing decisions ,” Mangnall continues . “ You ’ re reacting to events that could bring your mission to a halt , putting at risk many things including the welfare of your family . A little dramatic I know , but that ’ s how it feels . The highs are like no other , but the lows hurt and instantly remind you of the fragile position you ’ re in .”
Those tentative first few weeks are now behind him at Shape , which has now been trading for six months , meaning Mangnall – and fellow Co-founder Nick Walpole – can focus on scaling the platform they have developed . And he intends to take no prisoners in the process .
18 November 2023