By Anna Johnston
One cushy job, one big risk
The engineer-turned-entrepreneur and CEO honed his business idea while studying an Executive MBA at LBS (from 2007 to 2009), and he learnt key lessons along the way.
Prior to LBS Nuno had already co-founded his first software consulting business in Portugal before joining the European Space Agency (ESA) as its youngest ever product manager. While there, he spearheaded the development of the ESA Satellite Simulation Infrastructure, helping to advance the history-making Rosetta comet chaser space probe.
Nuno admits that leaving one of the most secure jobs in Europe was a risk. “The challenge came when I told my family I was going to quit my cushy job at the ESA to pursue a wild idea. Everyone told me I was crazy, but I said I was doing it anyway.”
When Nuno graduated from LBS he had no firm plans. He knew he wanted to shake up an industry but didn’t know exactly how. In 2010, Nuno left ESA and, determined, went in search of funding.
Walking away from his job with the space agency was the moment Nuno says he became an entrepreneur. It also taught him his first lesson: if you’ve got to do something, give it everything you’ve got. Just do it.
Nuno convinced investors over the course of a year to plunge more than US$1 million (£790,000) into his embryonic venture – at this stage, they were investing in his reputation and a technology that could spot anomalies in large datasets.
“It also taught him his first lesson: if you’ve got to do something, give it everything you’ve got. Just do it.”
“I had to demonstrate confidence to everyone I was asking for money, to everyone I was trying to recruit”
“The third key lesson is, therefore, to employ true grit when you’re growing a business”
Fighting fraud with AI
If the increase in cybercrime around the world in recent years has proven anything, it’s that our data isn’t safely locked away behind impenetrable walls. Our global financial system is vulnerable.
Feedzai is making a significant contribution to the war on crime by delivering data-backed decisions and transactions made in real time to some of the greatest organisations on earth.
“Every day, we’re reimagining financial technology and making it better for everyone,” says Nuno. “We’re seeing something I’m calling the AI convergence. It’s a perfect storm where multiple distinct threads of technology are coming together in a moment that’s about to change everything.”
And Nuno has placed Feedzai right in the eye of that storm.