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Timestamps:
6:06 - Getting the funds to start your venture
11:09 - Illegal work in Switzerland
27:55 - Deeptech Switzerland
40:03 - Raising funds in 2012
42:38 - The downsides of VC money
About David Christen:
David Christen is the co-founder and CMO at quitt, a company that takes the effort, paperwork and stress out of employing domestic helpers for private households, and quitt.business, a platform for the registering and billing of startup employees. He studied Physics and Law at UZH but eventually quit to start his entrepreneurial venture in 2010, against the wishes of his parents.
quitt tackles a very pertinent issue: illegal work in Switzerland. It is estimated that 75M people worldwide work as domestic helpers, 80% of which are undeclared. In Switzerland, the numbers don’t look much better: 30-60% of employers don’t register their domestic helper. These workers are paid in cash, receive no insurance, and are not allowed to tell anyone about the work that they do. Cleaning companies then take a cut of 25-35%, whereas quitt charges only 5-8%. As a result, cleaners earn on average a 50% higher salary by working with quitt.
To date, quitt has over 20,000 customers, with around 40,000 employment contracts and a settled payroll of almost CHF 300 million in Switzerland. Starting in 2023, quitt will also offer its services in Germany.
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