Apr 19, 2016
Veckopengen chose e-signing when many had to sign
Veckopengen wants to create a digital platform where children and young people can manage their own money. In a new issue of the company involving many parties, e-signing was chosen to speed up the process. Philip Haglund, the founder, talks about Veckopengen's experience.
Surely young people should be able to manage their own money even as cards and mobiles replace cash? That idea is the basis of Veckopengen. Philip Haglund (yes, the Hammarby footballer!) and his colleagues at Veckopengen want to create a digital platform for managing money that is suitable for young people and families.
How did you come up with the idea for Veckopengen?
Haglund: As society becomes cashless, the need to manage children's money within the family is growing, both in Sweden and around the world. Most young people have mobile phones and I wanted to create a digital platform where children and young people can manage their own money. Veckopengen was launched in March 2015 in the pilot market Sweden and today we have grown organically to have over 60,000 users.
Where does e-signing come in?
Haglund: E-signing became the solution when we recently had to make a new issue in the company and there were many parties involved. Over 15 different investors came in as shareholders and we realised that it would be a problem to deal with physical signatures, having to pass around papers and meet all the investors in person. Our partnership manager at Veckopengen, Niclas Blomqvist, had used Egreement's service and recommended it. With the help of Olof Myhrman at Morris Law, we then produced the Shareholders' Agreement, which was signed with all its annexes via e-signature.
How do you think it has worked?
Haglund: Handling documents physically is not convenient. It becomes inefficient given tight schedules where it is difficult to find meeting times. Having everything together on a website is much easier! It's also more secure for all parties, as everyone can easily follow the process and see who has signed the agreement.
Will you be using e-signing in the future?
Haglund: We think it works very smoothly and will handle our future business like this - everything from contracts, to meetings and different types of decision-making in our ownership. We got nothing but positive feedback from everyone involved in this agreement, so it would be strange to do things any other way in the future.
Any tips for others thinking about e-signing?
Haglund: If you want to simplify a process where there are several people signing an agreement, I highly recommend doing it with e-signing! I would argue that for the parties who are going to sign the agreement, it is even a positive experience.
We at Egreement thank Philip Haglund, founder of Veckopengen, for a nice interview and wish him good luck with Veckopengen, future e-signing and the next match with Hammarby!