Meet the founder at Prytek

I’m Andrey, and I am the Founder and CEO at Prytek. Before Prytek, I worked as a Venture Partner at Da Vinci Capital and founded FMF Capital. I studied in Israel, but I grew up in Russia. I spend a lot of my time on a plane, and I love that part of my job. I get bored being in one place for more than 2 weeks!

What is your day-to-day role with the company?

Typically, I am travelling to meet our partners and hunting down our next investment to join our ever-growing portfolio of industry transforming companies. But it is also very important to me to be involved in all aspects of the business. I love spending time with the CEOs at the companies we invest in, seeing them grow and succeed thanks to Prytek’s technology ecosystem. We regularly hold events where CEO’s and members of the Prytek ecosystem come together for knowledge sharing of business cases and successful strategies to create technology businesses of the future and to drive better business.

Since 2017, Prytek has experienced exceptional growth and now works with more than 250 clients worldwide. Our team has expanded to more than 1200 employees across eight international offices including Singapore, UK, Israel, Luxembourg, the Netherlands, Russia, India, and Cyprus. I’m very proud of the team we have built so far.

What inspired you to launch your business and what is the end goal?

I founded Prytek in 2017 with a clear mission to design and build innovative technologies that will help firms to not only meet these new challenges and regulatory requirements, but to also allow them to fully take advantage of its capabilities. The end goal is to take over the world! 

But we are not only a technology group. At Prytek, we are redefining investment asset classes by creating a new and unique asset class that takes the best parts of other common asset classes such as VC, PE, Corporate VC. We are planning to become a publicly traded company in 2022. 

How do you set yourself apart from other businesses in your industry?

Something we have all learnt during the pandemic is that data-driven businesses are the way forward, it is the only way of communication – especially in the ‘new normal’ that we have found ourselves in where people are mostly working from home and are now being onboarded virtually. Building systems to automate as much as possible is essential in supporting the ability to grow quickly and efficiently.

The primary differentiator that sets us apart from other businesses is that we give our clients the opportunity to transfer the operations of their non-differentiating activities through Prytek’s BOPaaS (Business Operating Platform-as-a-Service) offering and respective vertical. As a multinational technology group with advanced access to cutting-edge technology and leading industry expert advice, Prytek builds businesses and ecosystems in the Financial Services, Cyber & Tech Education and HR sectors. 

What’s the biggest lesson you’ve learnt so far as an entrepreneur?

I’ve always believed that interpersonal skills are key to business success. Without these skills, strong relationships and trust cannot be built. Whilst the pandemic has undoubtedly been an unavoidable catalyst for many, the increasing demand for virtual communication platforms has propelled digital transformation. Software such as Microsoft Teams has helped keep businesses make the shift to remote working, but what is it that we are all missing? Human interaction. We miss being around people, absorbing our colleagues’ energy, and the buzz of real-life exchanges – something that  can’t be achieved over a Zoom call. 

Whilst discussing entrepreneurs, it’s also fitting to highlight ‘Metapreneurs’ – a new level which stands between capital funds and companies, which we find in our structure, almost like a symphony where we orchestrate different musical parts to create a harmonious concert of companies. Each one of the companies are great but if you orchestrate one strategy looking at one level above, with the company CEO using capital to create the value chain, you are creating more value inside your capital allocation.

What plans do you have for your business over the next two years?

At Prytek, we believe that tech based managed services is the new gold, and we expect to continue to see this reflected in our year-on-year financial growth. We are continuously looking to expand into new areas of the market that could significantly benefit from BOPaaS and Prytek’s exceptional technology. We have several very high-profile acquisitions near completion and many more in the pipeline for 2022. We look forward to being able to share the news shortly and continuing to drive much needed digital transformation across the world’s business sectors. 

How important is company culture and what is your top tip to get it right?

I am a true believer that your people are your greatest asset, and you need the right people in place for every growth stage. Hiring people that can grow alongside your business, and people that you are excited to work with and motivate you daily are crucial to the success and growth of a company. With a passionate leadership team that has a clear vision of the market, and employees that are determined to make that vision a reality, anything is possible.