Novia's Vasilieff: There could be some terrible disasters in the D2C space

'There could be disasters in the D2C space'

Novia Financial founder Bill Vasilieff explains why preferentially priced deals are just ‘hot air', and why there could be trouble ahead for some D2C players.

Bill Vasilieff founded wrap platform Novia Financial less than six years ago and, in October, it broke even for the first time. He noted the date was a major milestone for the firm. “When you write a business, you have no income at the start. You have to fund the business between start-up and the point of breaking even,” he said. “You have to reach that point as fast as you can, and now we have achieved that.” In 2013, Novia grew its submitted business by more than two-thirds year-on-year, according to its full-year results, with assets under admininstration at £2.7bn. It posted a £7....