Full-Time

Managing Director

Management Buy-In

Posted on 9/13/2026

Penguin Formula

Penguin Formula

1-10 employees

Enterprise web solutions development and integration

No salary listed

Berlin, Germany

Remote

Category
Business & Strategy

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Requirements
  • Experience building or scaling B2B, Government Technology, or enterprise software-as-a-service companies.
  • Experience in business leadership, growth, or commercial strategy.
  • Understanding of public-sector or enterprise procurement environments.
  • Experience operating in complex, regulated environments and working with institutional stakeholders.
  • Strong communication and stakeholder management skills.
  • Ability to lead a technology-driven organization without being hands-on technical.
  • Willingness to take ownership and accountability at company level.
  • Entrepreneurial mindset, strong execution capability, and long-term commitment to building a company.
  • Management buy-in through a required €40,000–€80,000 investment for an equity stake.
Responsibilities
  • Define and own GovConnect’s vision, mission, and long-term growth strategy.
  • Position GovConnect as a trusted solution within the government and public-sector ecosystem.
  • Lead public-sector sales strategy, pilot programs, and institutional partnerships.
  • Navigate procurement processes, stakeholder alignment, and long sales cycles.
  • Build strategic relationships with government entities, agencies, and municipalities.
  • Work with product and technology teams to align the platform with institutional needs.
  • Balance innovation with reliability, security, and enterprise-grade delivery.
  • Oversee day-to-day operations, budgeting, and performance tracking.
  • Ensure sustainable financial planning and scalable operating models.
  • Build and lead the leadership team as the company grows.
  • Represent GovConnect and the LetShare Group with partners, institutions, and investors.
Desired Qualifications
  • Performance-based incentives linked to company growth milestones.
  • Meaningful equity participation aligned with long-term value creation.

Penguin Formula specializes in building and integrating enterprise web solutions. It uses Java and JavaScript as its core skills and combines them with emerging languages and open-source tools to deliver customized software for business growth. The company works by developing, tailoring, and integrating software for enterprise clients and by providing highly skilled IT professionals for client projects, often as extended teams or staff augmentation. What sets Penguin Formula apart is its people-first approach: investing in the growth and happiness of its developers, emphasizing transparent, reachable, and discreet communication, and operating with a collaborative mindset—“we run together, we grow together.” The company’s goal is to help enterprise clients achieve growth by supplying qualified, communicative developers to build their customized products.

Company Size

1-10

Company Stage

N/A

Total Funding

N/A

Headquarters

Lisbon, Portugal

Founded

2016

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Simplify Jobs

Simplify's Take

What believers are saying

  • LinkedIn shows active presence across Lisbon, Kriftel, and Amsterdam as of 2026-08-14.
  • Website updated 2026-07-07 suggests the company still maintains current marketing and operations.
  • Devs.com.pt describes broad services in software, mobile, and web development for enterprises.

What critics are saying

  • No 2025-2026 funding, layoffs, or customer wins surfaced in public sources.
  • Thin public footprint leaves hiring and revenue quality opaque versus larger nearshore consultancies.
  • If pipeline depends on undisclosed client projects, one major account loss hurts quickly.

What makes Penguin Formula unique

  • Lisbon-based software house founded in 2016, with offices in Germany and Amsterdam.
  • Specializes in enterprise web solutions, customization, and systems integration for corporate clients.
  • Penguin Formula 4World, EU-funded through FEDER, signals public-sector credibility in Lisbon.

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Benefits

Remote Work Options

Flexible Work Hours

Professional Development Budget

Company Equity