Entrepreneurship Through Acquisition (ETA) is a rapidly evolving path for entrepreneurs looking to build and scale companies, yet it comes with a host of challenges. While the potential to acquire and transform a business is immense, success requires sharp focus, credibility, and a relentless drive to execute. In this episode of the INSEAD ETA & Search Funds Hub podcast, host Kudirat Olateju speaks with Pawel Malon, Group CEO of Singu & Micad Software, and co-founder of Stability Capital. Pawel’s journey began in investment banking and private equity, but he chose to carve a new path - launching a search fund in Poland, an emerging hub for ETA opportunities. His story sheds light on breaking ground in less mature markets, building trust with investors, and scaling effectively in the PropTech sector. 

Drawing on his experience as both a searcher and operator, Pawel explains how he leveraged the INSEAD network to build credibility and unlock investor confidence and how strong products and customer-led growth transformed sales and scaled Singu. 

This conversation delivers fresh insights into how credibility, networks, and execution come together to define entrepreneurial success. Whether you’re a student, investor, or aspiring searcher, Pawel’s journey offers practical lessons on scaling within ETA while navigating market challenges and opportunities. 

00:00 Introduction to Entrepreneurship Through Acquisition
01:57 Paweł Malon's Journey and Background
04:06 The Search Fund Model in Poland
07:47 Leveraging the INSEAD Network
09:57 Fundraising Strategies and Building Credibility
12:41 Identifying Opportunities in PropTech
15:07 Scaling Singu: Strategies for Growth
20:43 Navigating Due Diligence Challenges
24:19 Operational Challenges and Customer Relationships
28:19 The Exit Strategy and Consolidation Opportunities
34:11 Advice for Aspiring Entrepreneurs