Sitting with an Alumnus

Interview with Joseph Choueifaty, Co-Founder & CEO @Goodvest

Please introduce yourself and tell us what you are doing now ?

JC: I ' m from Paris and I did the BOSC program , having graduated in 2019. Then , I continued with a Master in Entrepreneurship at HEC Paris and right after the master I directly created GOODVEST, a FinTech company based in Paris

The objective is to decarbonize the savings for French people and soon of the Europeans , and to allow individuals to invest for themselves and for the planet while respecting their values .

The company has existed for a little over two years We have a little over two thousand clients and manage 20 million euros . We ’re now a team of around twenty people based in the center of Paris .

What made you come to EHL?

JC: At first, I was very interested in the world of events and hospitality

Connect With Joseph Choueifaty On Linkedin

What I really liked at EHL was the fact that there was a direct business dimension which is very important. In the classic French system , it ' s often a preparatory course followed by a grande école . In fact, preparatory school is an extension of high school . And what I really liked about EHL was that there were projects with companies right away

I worked with Accor and Metro We really got our feet wet in the field because I was also passionate about entrepreneurship and so that ' s what I was looking for at EHL . It was really the connection to the business from the beginning .

Let ' s talk a little bit about GOODVEST. Where did this idea come from ? Was there by chance an experience at EHL that marked you or was it really after your master ?

JC: Look , it didn ' t come from the Masters nor from EHL . It came from the confinement during COVID -19. We were all confined , so we couldn ' t spend our savings that accumulated and I wanted to find ways to invest in a responsible way

So , I was looking for solutions that existed on the internet and so on but didn ' t find a solution that corresponded to what I was searching for.

I decided to create GOODVEST in parallel to that I did some research and saw that the impact of savings was significant It is estimated that the average French person saves for about 10 Paris - New York flights per year So we had to find a more responsible and transparent solution

We currently have an intern from EHL, and we will certainly have others in the future.

After EHL , you did a master ' s degree in Entrepreneurship at HEC Paris . Why did you decide to embark on this adventure ?

JC: I graduated from EHL at 22, I didn ' t feel like starting a company right away in a sector that was quite different from the hotel business .

So I wanted to continue my studies for a year I also didn ' t have any specific plans to start a company I just knew that I wanted to create one

And so that ' s why I chose to continue my studies for another year, because of the strong relationship between HEC and EHL

GOODVEST has been remarkably successful since its launch in September 2020. What do you think were the main drivers for this development ?

JC: I think there was a real opportunity There' s a market, there' s a real demand that isn ' t being addressed . There' s also a growing ecological awareness .

A few years ago , we were only interested in the impact of meat or the impact of transportation and now we are really interested in the impact of all the different sectors

And we realized that finance , in fact, is the engine of the economy, and all sectors are financed through investment. And so it ' s important to help sectors decarbonize as quickly as possible . So , I think there is both the awareness , the fact that there is no solution , and that we were able to quickly recognize this

Do you by any chance plan to take on EHL alumni in the future ?

JC: We currently have an intern from EHL , and we will certainly have others in the future

Where do you see yourself in the next 5 years ?

JC: At the moment, we' re trying to make ourselves known as much as possible in France and to gradually become the reference player in France for responsible investment.

So , the objective is to establish this leading position in France for the next two to three years And then , for the next five years , to launch other countries in Europe , perhaps Switzerland , and to democratize responsible investment elsewhere in Europe .

And when we talk about international development, what is the key factor in choosing a market for GOODVEST ?

JC: This is a very good question . I think we really have to study the market, we have to study the competition Currently, we have similar players in the UK and Switzerland

We also have to look at the cultural and linguistic proximity. It ' s easier for us to launch in Belgium and French - speaking Switzerland than in Spain or Portugal . So cultural proximity and competition are the main criteria

What is the main challenge you face when you want to develop GOODVEST ?

JC: We are in a huge market. Even if we have more than 2,000 customers today, it ' s still very small compared to the market. So , the biggest challenge is to make ourselves known . That ' s why all invitations , all interviews , all events are good opportunities to get known

From your experience , do you have any advice to give your EHL colleagues to enter the professional world ?

JC: I think that you really shouldn ' t be afraid to dare If someone had told me when I was in my AP that after EHL , I would start a company in responsible finance , I wouldn ' t have believed it

So you shouldn ' t be afraid to jump in and go for it. There' s every chance that it will work if you put your mind to it

And if you were to talk to Joseph in AP, is there anything specific that you would advise him to do in his professional future ?

JC: I don ' t know if I ’d have necessarily done things differently. I might have done an international internship as well in a non - French speaking country to improve my English

Do you have a message for the Alumni community, either from you or from GOODVEST that you want to share ?

JC: Don ' t hesitate to reach out to your network As soon as you need something and as soon as you want to give something too , I think it ' s important to keep close over the years

Is there anything else you want to add ?

JC: To keep an eye on the sustainable development and environment part, regardless of what business you ’re into Not only it is essential for the future generation , but also for business development It is becoming a criterion

And so it ' s always important to look at it and to be well informed , and to have a good CSR approach and so on

GOODVEST IS AN INVESTMENT SOLUTION COMMITTED TO THE ENVIRONMENT. SO THAT YOUR SAVINGS WORK FOR YOU AND FOR THE ECOLOGICALTRANSITION

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