Factofly
About the Company
FactoFly is an administrative tool designed to ease the burdens freelancers face with invoicing, insurance, and local compliance. The company targets freelancers and gig workers, providing them with a streamlined service to send invoices, get insured, and ensure compliance. FactoFly’s user base includes everyone from full-time freelancers to those who need a one-time invoicing solution, offering a simple, effective platform that acts as a middleman, converting freelance work into salaried income. Since its inception, the business has rapidly grown to bring in monthly revenue of around €130,000, reflecting the demand for such services.
Idea Behind Company
Jannik, having been involved in multiple startups and experiencing the administrative challenges of freelancing firsthand, saw an opportunity to address a common pain point. Inspired by his own frustrations and conversations with freelancers, he recognized that many struggled with the administrative side of freelancing, which often hindered their productivity. Conducting in-depth market research through interviews and competitor analysis, he identified a significant need for a solution. This research, along with his insights into freelancing trends, solidified the idea of creating FactoFly to relieve freelancers of these time-consuming administrative tasks.
Creating the Company
The development of FactoFly's initial product encountered challenges, as Jannik’s first outsourced team failed to deliver a functional product. This costly setback taught him valuable lessons about the importance of clear contracts and reliable partnerships. Determined, he partnered with a local developer to create a basic yet functional version of the platform, initially built on WordPress. Though the initial interface was simple, FactoFly's primary focus was on functionality rather than design, which allowed the platform to support early users effectively. The early development required around €50,000 in investment, which included the initial failed attempts, setting the stage for the business’s growth.
Launching the Business
FactoFly’s launch strategy relied heavily on partnerships and paid search marketing. Hosting webinars with partners and generating leads through targeted ads, Jannik focused on capturing high-intent users searching for freelance administrative solutions. Initially lacking marketing expertise, he adapted quickly by learning from podcasts, articles, and his network. The business remained bootstrapped, keeping costs low and reinvesting earnings into growth. Marketing began with a modest budget, gradually increasing as traction improved, and while Google Ads became a primary driver of user acquisition, LinkedIn Ads proved less effective. Reflecting on the early days, Jannik recognized the importance of having a growth-oriented team and is now implementing a structured funnel strategy.
Earnings
FactoFly now generates around $1.8 million annually, supported by its bootstrapped model and expanding marketing efforts. The company has been able to maintain double-digit growth, allowing it to reinvest earnings back into the business. With plans to secure a seed round and potentially expand into other European markets, FactoFly continues to strengthen its financial position. The team is small but growing, and with marketing, product, and branding improvements underway, the company aims to optimize its customer acquisition and retention channels while staying resource-efficient. FactoFly's strategy of balancing organic and paid acquisition efforts is expected to support ongoing financial growth and market expansion.
