Category Visionaries Steffen Vollert, Co-founder of Volt: $87 Million Raised to Build the World’s Leading Global Real-Time Payment Network
In a recent episode of Category Visionaries, I sat down with Steffen Vollert, Co-Founder and Interim CEO of Volt, to explore their journey building a global real-time payment network. With over $87 Million in funding, Volt has evolved from a European open banking solution to a worldwide payment infrastructure platform, connecting major payment systems like Pix in Brazil and PayTo in Australia. Beyond his role at Volt, Steffen shared an unexpected side venture - a vintage tractor restoration business that provides a therapeutic counterbalance to the digital world of fintech.
Topics Discussed:
- Evolution from European open banking to global real-time payments
- The transition through different leadership roles (CTO, COO, CEO)
- Early product market fit challenges and iterations
- Strategic focus on PSPs and enterprise customers
- The impact of COVID on early company formation
- Building marketing and sales teams in fintech
- Fundraising journey through multiple rounds
- Organizational scaling beyond 150 employees
GTM Lessons For B2B Founders:
- Speed to MVP Beats Infrastructure: Volt launched their initial prototype in just six months, compared to the industry standard of 2-3 years. Steffen explained, "We really focused on what is the fastest path to deliver something that has enough value for a merchants who actually put us on their checkout as a payment option." B2B founders should prioritize delivering core value quickly over building perfect infrastructure.
- Vertical Focus Drives Team Success: The team discovered that sales and marketing professionals in payments are highly specialized by vertical. Steffen noted, "Many salespeople in the industry are so specialized, they really join companies with a focus for their vertical where they have their network." B2B founders should commit to specific verticals long-term to attract and retain top talent.
- Product Market Fit is Continuous: Rather than a single moment, Volt experienced multiple "false" product market fits before achieving true traction. Steffen shared, "Every product advantage nowadays is temporary. You always need to be fast, you always need to be scrappy, you always need to think ahead." B2B founders should view product market fit as an ongoing process rather than a destination.
- Strategic Channel Selection: Volt deliberately chose to focus on large PSPs as distribution partners rather than pursuing SMEs directly. Steffen explained, "We really want to focus our resources on where we can move the needle for our revenue impact." B2B founders should evaluate distribution channels based on internal efficiency and resource constraints.
- Investment Partner Alignment: During fundraising, Volt prioritized investors who deeply understood their space over pure capital. Steffen emphasized, "For us it was much more important than the money itself... having partners on the other side to understand what we build, why we build it, why it's tough, why it's not going to be a straight line." B2B founders should seek investors who truly understand their market dynamics and challenges.
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