22 October 2024

Swipeguide: COL use enabled rapid growth after corona

Daan and Willemijn Swipeguide
News
News

SwipeGuide makes digital manuals for factories to replace paper work instructions. The Amsterdam company, founded in 2015, has a client list that every entrepreneur would lick their fingers for, including Coca-Cola, PepsiCo, Heineken and Bridgestone. In 2020, however, the company, which has now joined forces with American industry peer L2L, was in a much less rosy position. With a Corona Bridging Loan (COL) provided by ROM InWest, the company kept its head above water.

Digital innovation

SwipeGuide was founded in 2015 by Willemijn Schneyder and Daan Assen. The company developed a software platform that made the huge amount of paper instructions on the work floor redundant. On the platform, companies can easily create their own digital work instructions and then immediately optimize them. In this way, the company ensures fewer errors by employees and therefore less downtime of machines through better instructions.

Corona disaster

In 2020 dook het coronavirus op en kwam de vraag naar de diensten van Swipeguide vrijwel volledig stil te liggen. Uiteindelijk is juli 2020 een Corona Overbruggingslening (COL) aangevraagd en ontvangen via ROM InWest. Voor goedkeuring van de aanvraag werd allerlei gedetailleerde informatie aangevraagd, denk aan een businessplan en een haalbaarheidsanalyse. De ontvangen lening is een belangrijke reden dat het bedrijf de coronacrisis heeft overleefd. Uiteindelijk is de lening eind augustus 2024 volledig afgelost bij de overname van Swipeguide door L2L.

ROM InWest as COL executor

The Corona Bridging Loan (COL) was created in 2020 for innovative companies and growth companies that were not eligible for emergency measures such as the BMKB-C and GO-C. With the loan, they were able to temporarily improve their liquidity position. The COL was partly responsible for the establishment of ROM InWest. A total of 350 million euros was lent nationwide, 79 million of which went to 285 start-ups and SMEs in North Holland. Four years later, a large part of this portfolio has been phased out and many of these entrepreneurs – including Swipeguide – have experienced significant growth.

Stormy growth

In april 2021 haalde Swipeguide geld op in een nieuwe investeringsronde. Daarmee kon het bedrijf weer zelf verder groeien. De wens tot verbetering van de dienstverlening zorgde ervoor dat Swipeguide in de Verenigde staten terecht kwam en uiteindelijk samen ging met L2L. Swipeguide was op zoek naar een partner die het aanbod kon verbreden, omdat klanten vroegen of Swipeguide ook kon helpen bij het toebedelen van taken en het signaleren van afwijkingen in het productieproces. Zo kwam het bedrijf uit bij L2L. Zij verzorgen de communicatie met machines. Als een machine een foutmelding heeft, communiceert hij dat aan een platform van L2L. Met de swipequide handleiding kunnen ze dan terug naar de machine om het op te lossen. Samen ondersteunen Swipeguide en L2L dus het hele proces.

Expand further

The merger will result in a company with 110 employees, of whom more than a quarter from SwipeGuide, and a turnover of more than 22 million euros. Schneyder is chief strategy officer at the new company and Assen is responsible for Europe. The merged company has plenty of growth ambitions. "In two years, I want us to serve 1,500 to 2,000 factories and grow to 1 million users," Schneyder said in an earlier interview following the acquisition. "We want to grow with new software products in both the United States and Europe. We will also look at Asia."

Vision of the future

Employees can now also provide feedback on instructions or report problems on the platform, which can be used to further optimize the process. In addition, the company measures how quickly employees pick up the instructions. It then sends this data to the creator, who can use the data to improve future instructions. The platform's AI-driven technology ultimately ensures that employees acquire critical knowledge more quickly. This further reduces dropouts, which is good for both employees and customers.

Ivo Kalthoff
Ivo Kalthoff
Head COLNH

Digital transition

Smart systems for society

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