"Tech Finance" with Sasha Orloff: B2B Fintech | AI | Finance Tech

E5: Bringing Fun Back to Finance: Redesigning Business Modelling with Runway’s Siqi Chen, CEO

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May 2, 2024
Siqi Chen, CEO of Runway, shares the 3-year journey of redesigning the finance platform to make finance fun. He discusses the importance of storytelling, centralized data, and creating a culture of fun. The podcast explores challenges in finance, product iteration, and the evolution of financial modeling tools.
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ANECDOTE

COVID Spreadsheet Meltdown Sparked Runway

  • During COVID Runway's founder Seki had to scenario-plan with his Netflix-ex CFO on messy Google Sheets and found the process miserable.
  • That pain convinced him to build a product that replaces brittle spreadsheets with a modern, collaborative modeling tool.
ADVICE

Raise To Prototype, Then Prove Disruption

  • Raise enough to build a compelling prototype and show early proof points rather than trying to perfect everything at once.
  • Use that prototype to prove disruption and unlock larger preemptive rounds from investors.
INSIGHT

Minimum Future Parity Is Huge

  • To replace Excel you must rebuild large parts of it plus reporting, integrations, and a clear reason to switch.
  • That full scope explains why modern finance platforms take years to reach market fit.
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