Meet the founders: Christian Butenschøn

 
 
Christian.jpg

Christian Butenschøn

Founder & CEO
ICONFIRM

 


How did you come up with the idea for your startup?

I was the CEO of Boka Doktorn, a medical collaboration hub between health insurance, clinics and patients for online booking, sharing of patient data and treatment statistics as well as invoicing. As part of this was a special solution for consents. The hub is currently in use by 900 clinics and 25 insurance companies.

Data privacy was of course key for operating the service and the solution we built in 2013-2014 was tailored to meet the toughest requirements in Europe. As such, I followed the privacy regulation with key interest.

In 2015, I secured a long-term position of the company by selling 90% to a company with an acceptable risk profile to the insurance companies. During 2016, I raised to the chairman of the board if we should define a service and provide relevant GDPR service to a wider community. This was declined and by the end of the year I sold the remaining of my shares, received parts of the source code as compensation and founded ICONFIRM.

What's your entrepreneurial history, or is this your first go at a startup?

I have a strong history of innovation and entrepreneurship but within a corporate framework.

I have founded, developed and exited companies and developed teams, particularly when I worked with Atle Brynestad. a) Briksdalen eiendom was developed from 4 employees to a team of 25 with full scope real estate development from green field to building projects and facility services. OVer a 5 year period, we realised gains of about 900 MNOK and raised some 1,5BNOK in capital.

b) CG Cpital was created from scratch to a credit portfolio of about 100MNOK.

c) Boka Doktorn was a simple online booking platform, but with some market position when I invested and engaged myself in 2013. When the company was sold at the end of 2015, Investors received a return between 500% and 1000% in 2,5 years. The organisation and solution had gone from a very simple solution to a secure platform and high-quality business and development governance.

If you weren’t building your startup, what would you be doing?

Executive leadership in an international organization. Probably with a role in business development, financial leadership or restructuring.

What are you REALLY into outside of building your company?

Family (3 children 12-20 years old), music (previous drummer)

What have been the hardest part during the early stages of your startup?

The lack of market awareness around the regulation and lack of sufficient capital

What's the one thing you wouldn't manage without when starting your company?

The history of Boka Doktorn and source code

What drives you as an entrepreneur?

I am purpose driven, focusing on solving problems in a wider sense.

What's your experience of fundraising and dealing with investors?

Done a number of financing activities, but primarily through banks and larger caps.

ICONFIRM has received some funds through Innovasjon Norge and Skattefunn.

What do you look for in an investor?

Smart money, someone that has done the journey before. Network and marketing competence.

Why did you decide to apply for Angel Challenge?

The process coincides well with our planned fundraising activities and new set-up provided more flexibility.

What's the one thing you feel that you are better at than most other people?

With a diverse background from different business models, cultures and markets, I am good at seeing a holistic view and recognise opportunities early.