When raising money for a financial venture, it helps if you have a safe pair of hands. Yet 35-year-old Dane Lars-Christian Brask has a track record in one of the most dangerous sports. As well as owning an international motor racing team, he recruits young racing drivers for eventual entry into Formula One.
A former investment banker, Brask has now set his sights on the UK with Creditsafe.com, a bold online credit information venture that aims to undercut traditional providers such as Dun & Bradstreet and Equifax. Asking clients an average fee of pounds 400 rather than the usual pounds 4,000, Creditsafe.com pulled in nearly 3,000 clients in its first six weeks. 'It's a low-risk, high-potential operation,' says Brask, who used his extensive investment finance contacts to raise pounds 4.5 million for the venture in just four months.
'It has a business model that makes sense from both the business and the clients' point of view. When you have a match of interests like that, you can create something incredibly big.'
Brask, who already owns four companies, believes Creditsafe has several advantages over its competitors, not least that it can provide up-to-date information on tap. 'In a year's time, it will be the brand name on the internet for credit information,' he says. And does he plan to set up any more companies in the meantime? 'No, I think that's enough for now,' he laughs. 'But you never know.'