By Olivia DeWan 
Matthew Coffey, CEO and co-founder of Irish rewards platform SQUID, has helped grow the business from a 2019 startup into a platform with nearly one million registered members. A mechanical engineer by training, he co-founded SQUID to modernise fragmented loyalty systems while helping local communities thrive.
If we’re talking about a proper career, SQUID was my first real job. Before that, I did bits and pieces such as maths tutoring and sailing instruction to earn some spending money, but building SQUID straight out of university was my first full-time venture. My role is to set the direction of the company. SQUID is an ecosystem with consumers, businesses, partners, investors and employees, so a large part of my job is aligning those different groups around a shared vision. Beyond that, I spend much of my time focused on fundraising, major commercial partnerships and ensuring the business is moving towards long-term sustainable growth. Curiosity more than anything else. I’ve always enjoyed understanding how systems work and thinking about how they could be improved. I was fascinated by the way incentives influence behaviour and how technology could be used to strengthen local economies. Building SQUID became a way to explore those interests while creating something tangible. Partly it’s seeing the impact of what we’ve built. There’s something incredibly motivating about seeing people use the product in the real world or watching SQUID climb the app charts. Beyond that, we’re all working towards a much bigger ambition: building a company that could have a meaningful impact on local economies around the world. Having a mission that is both commercially ambitious and socially positive keeps people engaged through the difficult periods. Success will be when the economy rewires so that the majority of marketing is turned into spending power for consumers in their local area. Going for a swim in the sea is my go-to to reset when my mind is racing. It’s practically impossible to think about a product roadmap or fundraising deck in the freezing Irish water. A Short History of Nearly Everything by Bill Bryson. Most companies don’t fail because the idea was impossible. They fail because the founder eventually gives up. Building a business inevitably involves setbacks and periods of uncertainty. Whenever things become difficult, I try to remember that persistence is often the deciding factor. Talk it through with my team and the people I trust, then exercise hard. I want SQUID to create a new sovereign local economy. We want SQUID to be the first thing people think of when they want to make their everyday spending go further. Simple to use, endless to gain. What are your main priorities and goals in your current role?
What pushed you to pursue a career in this field?
How do you motivate yourself and your team?
How do you relax?
What is your favourite (non-business) book?
What’s the best piece of advice you’ve ever been given?
How do you handle adversity?
What are the aspirations for the future of the business?
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