CEO/ Product manager of Fincase on coming summer event - Future Tech
Dmitry Tsyplakov's Interview for Future Tech 2020 organizers
On July, 15 The First City Competition "Future Tech" will start where more than 500 of students will try to implement tech ideas into business tasks. Fincase is the event co-organizer and also one of companies-participants. CEO/ Product Manager of Fincase Dmitry Tsyplakov answers the questions about the idea of Fincase startup and why they help young IT-specialists to try themselves in creating new products.
FutureTech (FT): What is Fincase's major operation field?

Dmitry Tsyplakov (DT): Fincase provides technological solutions and new business models in real estate , combining digital and development . In other words, what is being done manually and requires new services, we automate and convert into digital projects. Such projects include both smart buildings and smart cities, and digital platforms for searching for real estate. Billions of dollars are invested annually in Property Technology, 2018 was a record year for PropTech venture financing - investments amounted to $ 20 billion. This is 38% more than the previous year. In addition, funding for PropTech projects has grown by an average of 62% over the past five years. This dynamics shows how promising the sector is and that is why investors see great potential in such startups.

FT: How did the project start?

DT: The idea of the project belonged to the founder of the company - Maxim Bobyrev . who has been working in the real estate sector for many years and, when I joined the company, introduced me to this market. Even then, a few years ago, it was clear that technology will dramatically transform the real estate sector.

It all started with a major project for Infobank - in a short time we there had to be made a large number of verified reports on the evaluation and assessment of the market value . There was critically little time to complete the task, and in the last few months they announced a tender . The prototypes of the working systems was ready in a short time with a name of Scoring analysis of value (for assessing the value of an object) and Easy Appraisal (service for evaluation reports). If it were made by appraisers, they would need several months for this huge amount of manual reports. This was a revolution in Fincase operations - a staff of 50 appraisers were replaced by machine learning. Thanks to its unique formulas and algorithms and the bunch of amendments, the tender tasks were promptly fulfilled. So a unique product was born, and you hardly will be able to find its analogues even in the Western market. Our benefit is that we collect vast amounts of data and can analyze them and provide a convenient user reports. No one has yet learned how to create such reports.

FT: What is special about your team?

DT: For me, the main capital of the company is primarily people, since the idea is followed by implementation, joint successful work. During the project implementation, the staff increased from 9 to 35 people , and we are always in search of new talented personnel. Fincase is a team of analitycs, Data Mining department, developers, project managers, marketing experts and disigners. Now we are working remotely and can proudly say that the pandemic does not influence the quality and pace of work - recently we signed contract with KnightFrank , one of the consulting market leaders in real estate. We launch new product for them- an aggregate assessment system based on data mining technologies.

FT: Share your company-related future plans.

DT: Fincase is now the real estate appraisal market leader in Russia. Our product has already been appreciated by the largest Russian banks and development companies and we plan to create a platform that will combine all the services of real estate market analytics. The next stage of the company's development is entering the Western market, my goal is to help as many companies as possible learn how to profit from real estate operations even in a turbulent changing market situation.
FT: What business tasks have you provided for the solution to specialists in the framework of the Competition?

DT: Our product line is developing dynamically and with each new customer systems become more complicated, with new parameters or features added. As I said, our main product is a scoring analysis of the value of real estate and our tasks are all connected with this. For example, To create an algorithm to evaluate the level of infrastructure areas, Visualization of the route from point A to point B on Yandex maps, Voice Assistant to search for housing, To determine the type of repair of the building / flat / house by photo . We have included the most challenging tasks that will introduce participants to the features of PropTech, and look forward to hear new interesting ideas and solutions.

FT: What advice would you give to the competition contestants?

DT: On reaching the ambitious goals you may need a bit longer time and inspiration, but the result is worth it. Surround yourself with the right people, don't be afraid to ask experienced mentors for advice - they were once at the beginning of the journey just like you and made mistakes. Never stop in the sprint, always strive to learn and do not be afraid of failures. It happens to everyone, and to those who win, even more often.

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