deemly – a Danish startup building trust within peer to peer transactions

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deemly is all about building trust! The founder, Sara Green Brodersen, wrote her thesis on the sharing economy and through interviews with sharing economy and peer to peer platforms, she realized that the main barrier within these transactions is trust. 9 out of 10 platforms state that trust is their main issue. Furthermore, studies show that 69% of all Americans are afraid to take part in these transactions. Sara quickly realized that something had to be done to remove this mistrust – the world needed a solution.

Thus, Sara went on a quest to solve the issue of mistrust. She wanted a technical solution that could easily be integrated on existing platforms such as Airbnb, eBay, and the like and other sharing platforms. She got a team together during the Fall of 2015 and they created deemly. deemly is a platform that enables users to aggregate their existing ratings and reviews into one trustworthiness score, a deemly score. The end users can create a deemly profile for free and with their profile, users can start renting, exchanging, swapping, and buying right away.

The business model of deemly lies within two different products;

  • An API solution that sharing economy – and peer to peer platforms can purchase, which enables all their users to display their deemly score on their profile.
  • A customizable rating and review system for platforms that have not built a native system yet.

The team launched their beta in June and have been testing with end users and platforms since then. They launched their version 1.0 on Monday October 24th, 2016 and will continue to improve all aspects of the product.

One of the team’s major milestones was to get 10 customers (platforms) on-board by October. However, the deemly team managed to get the 10th contract signed by the end of August. They already have good traction on the user side but the team expects the user base to grow exponentially as they integrate with more platforms.

The hands on members of the team are 3 co-founders, 3 developers, and 2 interns. The 3 co-founders; Sara Green Brodersen, Jens Farvig Thomsen, and Pernille Spang Lyndegaard have been a part of the startup scene for quite a while as they have each co-founded and worked at other startups. There are furthermore investors and advisors connected to the team offering support as they continue to grow. The team landed their first investment in April, which enabled them to get their beta out a lot faster than they would have otherwise.

deemly just got nominated as Idealist of the Year at the Danish entrepreneurship award, Ivækstprisen, and the founder and CEO, Sara Green Brodersen, got nominated as Female Entrepreneur of the Year. The team are extremely proud and honored to be nominated! Sara Green Brodersen: “The winners will be announced November 18th, 2016 and we’re so excited about the whole thing. It’s awesome to get that kind of acknowledgement so early on in our journey.”

The coming challenges and milestones for the team are sales and scaling. They currently have customers in The Netherlands, the US, and Denmark but their 3-year plan is to be present on all continents so there is still a lot of ground to cover, so to speak.

It will be interesting to follow their journey moving forward.