Coindrum provides self-service machines to airports which allow customers to trade foreign coins in return for airport shopping vouchers when travelling from one currency zone to another. Coindrum, therefore, helps customers get rid of foreign currency while creating more Duty Free shoppers for airports.
The idea for Coindrum was sparked when its founder, Lukas Decker, was travelling home from the airport one day and had to insert coins into the automatic motorway toll. “I thought, ‘I would love a machine like that in the airport where I could get rid of all my coin currency’” recalls Decker.
According to Decker, Coindrum’s biggest challenge was transitioning from a concept into a reality. One of the first people that Decker met with at Dublin Airport was Jack McGowan, CEO of Duty Free, who agreed to give Coindrum a chance. This chance developed into a fruitful partnership, allowing Coindrum “to generate the first data and prove the technical and commercial viability of the business, which led to many other installations,” claims Decker.
Regarding their expansion, Coindrum machines still reside in both terminals of Dublin Airport to this day and are now present in 6 European countries and 10 airports. In addition, they recently signed a deal with Dubai International Airport, one of the world’s busiest international airports.
Decker’s advice for budding entrepreneurs? “Take the leap of faith”. Decker also urges entrepreneurs to surround themselves with others who have been through the same entrepreneurial journey and can therefore lend their name, credibility and mentorship to the business.
Innovation and partnerships breed success. Choose Virgin Media Business as your broadband provider and reignite your business growth.
Find out more about our small business broadband, phone, Wi-Fi and TV services or contact our team on 1800 940 062 to discuss where you want your business to go next and how we can help.