Summary:
On this episode of the Startup Junkies podcast, hosts Jeff Amerine and Caleb Talley talked with Alyona Mysko, the CEO and Founder of Fuel Finance. Alyona has worked in finance for years and is an expert in financial planning and risk management. She started Fuel Finance about three years ago with the goal of making finance cool, efficient, and easy for founders. Throughout the episode, Jeff, Caleb, and Alyona discussed what it’s like running a business in Ukraine right now, stories of Fuel’s success, and how Fuel and other businesses are giving back to Ukraine.
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Show Notes:
(1:00) Introduction to Alyona
(2:00) Origin Story
(3:37) How the War in Ukraine Is Affecting Businesses
(6:36) Fuel Gives Back
(9:20) How Can Others Help?
(11:05) Entrepreneurial Journey with Fuel
(13:26) The Future of Fuel
(15:24) Building the Team: An Experience in Resilience
(20:34) Landing the Plane – Advice to Younger Self
Links:
Quotes:
“I believe we make cool and easy finance for founders with our product, so they can really easily understand what is going on inside their business.” Alyona Mysko, (2:55)
“…We’re not [the] usual startup because we are profitable and…we do financial products, so we understand how to manage finance.” Alyona Mysko, (12:34)
“When you get all dashboards and all information and insights and graphs in several clicks…[that is] the future of finance.” Alyona Mysko, (13:04)
“…You should do it with passion, or not at all. So that’s why…we have like all crazy team members. We’re passionate, but also…we have this culture of responsibility inside…especially working with clients and for our customers and what we provide.” Alyona Mysko, (17:20)
Making Finance Cool With Fuel
On this episode of the Startup Junkies podcast, hosts Jeff Amerine and Caleb Talley talked with Alyona Mysko, the CEO and Founder of Fuel Finance. Alyona has worked in finance for years and is an expert in financial planning and risk management. She started Fuel Finance about three years ago with the goal of making finance cool, efficient, and easy for founders. Throughout the episode, Jeff, Caleb, and Alyona discussed what it’s like running a business in Ukraine right now, stories of Fuel’s success, and how Fuel and other businesses are giving back to Ukraine.
Alyona’s Background
Alyona has been passionate about math and finance as far back as she can remember. She has worked in finance in Ukraine for over nine years and has held positions such as financial director, analyst, and auditor. As she worked in these different roles, Alyona began to notice that many founders did not enjoy the financial aspect of their startup, and she could not understand why. She eventually created Fuel with the goal of making finance cool and easy for founders. The financial data generated with Fuel can help founders drive their business and it can make them better founders and CEOs.
“I believe we make cool and easy finance for founders with our product, so they can really easily understand what is going on inside their business.” Alyona Mysko, (2:55)
All About Fuel
Fuel Finance started about three years ago as a basic financial consulting company. After managing finance for over 100 companies, they noticed a problem that seemed to have no solution: startups needed to manage their finance and automate their work easily, so Fuel set out to become what they needed. They started on Google Spreadsheets and eventually hired an engineer to help organize their data and systems. They also quickly realized that they needed a database with all of the data that they had from clients. Now, the company has around 22 members, from engineers to product team members. Fuel is growing and they are automating more financial products to make finance easier for all founders. With Fuel, CFOs can spend more time on strategy rather than manual finances which will enable them to successfully grow their business.
Being Better Partners to Ukraine
When the war in Ukraine started, many companies had to shift their mentality and their products in order to survive and help their fellow Ukrainians. Fuel was no different. About half of Ukrainian businesses have shut down or experienced a decrease in revenue, and Fuel knew they could use their knowledge and resources to help others. At the start of the war, Fuel implemented two initiatives to give back to their community. The first was financial aid, where companies submit a form and receive free financial consulting through Fuel. The second initiative was in collaboration with Lift99 where people can easily support Ukrainian businesses who shifted from basic products to products needed to help with the war effort.
Being a startup is rarely an easy journey, and Fuel has had to overcome its own obstacles. However, they are determined in their journey to help make finance cool and easy for founders.
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