Sesame Summit 2026 – application open

Jörn Leogrande

In case you somehow missed all the buzz about Wirecard over the past couple years, here’s the TL;DR backstory, for context: Wirecard’s meteoric rise from being just a small startup in Munich back in 1999 to eventually dominating the German stock exchange in 2018 soon exploded in flames in 2019 after the Financial Times reported accounting irregularities in Wirecard’s Asia Pacific operations.

After months of deep investigation, 2 separate auditing firms (EY & KPMG) both found an estimated 1.9 billion euros missing from Wirecard’s balance sheet which of course caused the collapse of the company in 2020 with the fallout still ongoing today.

When Ben & I first met Jörn Leogrande in person, it was during Slush back in 2018. At the time he was leading Wirecard’s Innovation Labs which is how we connected in the first place since Jörn was on a mission to share his innovations – and innovation thought-leadership – with more global audiences.

We agreed that because most innovation approaches are designed to boost marketing efforts, they often miss focusing on the hard work of developing new solutions/technologies. One example of this kind of hard work would have been evolving the status quo business model of events in order to better anticipate potential industry disruptions – ie. a global pandemic – before those disruptions actually occur. Since the world went into lockdown in March 2020, all in-person events had no choice but to adapt, for better or for worse.


Rewinding back to before the pandemic, how was your experience working on truly innovative ideas/solutions within Wirecard’s Innovation Lab?

Well, “before the pandemic” – that sounds like a thousand years ago. The main objective of Wirecard Labs back then was to build internal communities to accelerate agile thinking and innovative solutions. In other words: employee engagement was the key to our success. Constant communication was most relevant for Wirecard Labs so we did spend a lot of time in internal workshops, events, screening sessions and planning meetings. Most of the time Face-to-Face but also with a good degree of video conferencing back then.

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What’s an example of an innovative idea/solution that you brought to life – or helped to build?

We built a truly innovative solution for AI-driven price negotiations in e-commerce. This was something that had never been done before, and merchants and consumers were really keen to use the solution.

What key lessons did you learn while promoting that innovation on stage(s) at event(s) around the world?

I always found it interesting to talk about numbers and hard facts when presenting at events. Inside the innovation community there is no lack of brilliant ideas – but what’s really coming out of this? How big were the financial investments? And how successfully did the handover process work? What were the KPIs? These are issues that every innovation manager is interested in – but rarely ever shares in public. As innovation specialists, we are not magicians – everything we do should be based on numbers and concepts.

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As one of Wirecard’s limited public-facing speakers who was still on stage at events in 2019, how did you face the growing scrutiny around the allegations of fraud stemming from the Financial Times investigations?

As the innovation lead at Wirecard, I always had the tendency to focus on the future strategy of retail and payment and not so much on our balance sheets. When you look at most of my presentations from 2019, I was not talking about Wirecard – instead I was concentrating on some future developments. Looking back, I have to say that I made it too easy for myself with that strategy. But I was not aware of the full extent of the misery the company was in at the time.

In this age of flashy marketing campaigns and trendy buzzwords about innovation, do you have any suggestions for how to cut through the noise & figure out how what’s actually relevant / worth paying attention to?

Like I said before: I think that numbers, results, KPIs or engagement factors are much more relevant than nice images and rendered videos. Innovation departments and Labs should not see themselves as satellites but more like service departments inside companies. In my experience, this approach is more sustainable, more measurable and more successful than many other innovation strategies.  Involving and engaging the entire enterprise in each step results in stronger adoption of an innovation culture to drive change in order to give a company staying power in an ever-changing and ever-demanding world.

More broadly speaking, which innovation(s) within finance/ payments are fascinating you the most these days?

It might sound old but I think that now is the time when AI and machine learning will really start gaining momentum. This hypothesis has been prophesied a lot in the past. But the radically-increasing digitalization due to Covid 19 has led to the breakthrough of digital intelligence. This includes areas like fraud management, customer engagement, real time payments and data-driven offerings.

Now that the world of events has shifted (mostly) online, how has your experience taking part in or speaking at virtual events been so far? Which online events did you enjoy the most?

I have to say that I personally enjoy the smaller online events with intelligent networking capabilities very much. There is also one aspect to highlight. With most of us sitting in our home offices all day long, busy doing Zoom-calls – it is the unexpected interactions that we are missing most.  Events that understand that they have to provide at least a bit of unplanned interaction will be most successful in the future. People want to discover new experiences – from the security of their home offices. But if a conference or an event is just the continuation of a Zoom-call it might not be successful in the long run.

And last but not least, what have you been up to since leaving Wirecard?

I left Wirecard in August 2020. Back then I had the idea to write a book about my journey with the company. I did a few pages and sent it to Random House and suddenly had a publishing contract. “Bad Company” came out four weeks ago in German and will also be available in English shortly. But there are no concrete timelines to share. Right now I’m taking a bit of time off to think about what I should do next. If anybody has a good idea – please feel free to share it with me.

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Event strategy for VC

When I started working in VC, conferences were treated as a nice extra. Something you sprinkled on top of a sourcing strategy that lived elsewhere, often in a partner’s address book. Being an investor meant you mainly had to spend a few days out of the office per week for dealflow meetings, you attended the occasional panel slot if you had a friend on the programme team, shared a few tweets and that was it. But today conferences are part of the core marketing infrastructure that keeps the firm in the flow of founders, operators, LPs and peers. These events act as a pretext to re-engage with warm or cold leads, whether a fund is at the beginning of their investment cycle or deep in fundraising for their next flagship fund.  Every tech city has its own flagship event. If you are a generalist VC, chances are you can easily identify 20 conferences that you are expected to show up at, and 40 that you could attend.  So, where do you start? How do you really decide whether it’s a good reason to attend? Most investors only see the tip of the iceberg: the logo of the headline conference. They rarely see the resource constraints that come with executing the field work. That tension creates too familiar operational dramas for marketing teams, including last-minute “Where is my ticket?” message, partner demands for main-stage slots, and the flurry of FOMO driven interest because another prestigious fund has been announced as a partner. And yet, despite common belief, investors don’t attend conferences for the parties.  When I look at the 100 plus conferences I have attended over my career, I tend to group the real reasons into 10 buckets. 1. Qualified dealflow Good conferences act as magnets. They pull in the startups that are relevant for a specific thesis, geography or stage. For generalist VCs, niche events are a way to see a concentrated sample of the market in two days. For more specialist firms, these events are a way to go deeper into a vertical, and to be visible in that niche. 2. On-the-shelf networking Conferences provide “on the shelf networking”: the infrastructure of meetings, lounges, apps and social events is already built. You simply step into it. For investors, that is valuable across several fronts: they can connect with  founders and future founders, operators for senior hires, practical experts and   LPs exploring new funds.  3. LPs and the (secret) permanent fundraise Most funds are always fundraising. Events that attract LPs are therefore particularly attractive. Even a handful of good LP conversations can justify several days out of the office, especially if this involves underground Berlin (Super Return) or a roundtrip to the French Riviera (IPEM).  4. Media relationships Some partners only have meaningful conversations with journalists at conferences, mainly because engaging with the media is not part of their day-to-day routine. For them, conferences provide an efficient way to concentrate press engagement in one place without having to pitch themselves. For marketers handling complex logistics across several markets, an event is often the one moment where the stars align. 5. Thesis signalling Good investors have local-based theses and want to attract dealflow consistently across several years, whether or not they have cash to invest. Attending Stockholm-based conferences is a way to say, “we are serious about the Nordics” without having to buy billboards in the airport (although some folks do exactly that). In that sense, VCs and event organizers are sometimes competing as community enablers. Both are trying to become the natural node for a given ecosystem. 6. Speaking and thought leadership Speaking slots are a form of social currency in venture – and comes with a few perks such as “speaker dinners”. Many partners enjoy being on stage and the status premium associated with it. I guess there’s a reason why some people are more interested in how they will look like on their Slush stage picture than what they are going to say. Beyond ego, speaking opportunities give VCs a platform to articulate their thesis, test a narrative in front of a live audience, and attract founders at the very top of the funnel. Some of the best inbound I have seen has come within a week of a talk. A founder who heard a line and followed up. A journalist who spotted a quote for a later story. Someone who waited backstage with a pitch. This is part of why VCs can be VERY intense about speaking slots. From their perspective, stage time is not simply a visibility perk. It is a key input into the marketing engine. 7. Curation Some conferences have a strong reputation for curation. You trust that if you turn up at TEDx, DLD, or similar events, you will be challenged and inspired. For investors who spend most of their year buried in spreadsheets, this is attractive. Alas, I think the content quality has nosedived these last couple of years so it’s less true. 8. Portfolio support Serious investors use conferences to help portfolio companies with commercial introductions, support them on talent hunting, offer stage visibility and access to LPs, journalists, and peers. When a portfolio company is having a big moment, everything else tends to rearrange around it.  9. IRL experiences Many VC franchises have grown used to operating digitally. What is often missing is a reliable in person interface for the broader community around the fund. Conferences solve this by using those moments to crystallise the community you are building.  A simple breakfast, an LP catching up with several of your founders in one afternoon: these are small touches, but repeated over ten years they are part of how trust compounds.  10. Watching to competition Conferences are one of the few places where you can literally see how competitors behave with founders, with LPs, with the media and with each other. Who is always surrounded by founders. Who is quietly building a niche. Who is sponsoring heavily in a

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