‘I channel my passion into making a profit for the company, as well as everyone working in it’ – CEO Mantvydas Matthew Narusevicius

WFDM Ltd launched as a transport and catering provider in 2020 – just as the COVID-19 pandemic shook the global business landscape. Buoyed by increased demand, the company evolved into one of Malta’s most significant recruitment agencies. Since then, WFDM Ltd has expanded into Cyprus and the entrepreneurial flair of Founder Mantvydas Matthew Narusevicius continues to lead investment in tech opportunities that promise to reshape the business world.

Much like the company he founded, the career journey of WFDM Ltd Managing Director Mantvydas Matthew Narusevicius has been nothing if not diverse.

A family trip to the UK from Lithuania at the age of 15 inspired a move to work alongside his uncle in the construction industry. But when he was offered a place at a school of economics in Denmark, he felt compelled to reject the offer and instead pursue the opportunities he saw emerging in the real-world business market.

“I worked in hospitality, promising my family that I would be studying instead – when in fact it took me six years to actually start my studies!” says Matthew. “I loved the challenging dynamic of hospitality, in which I learnt the sales trade, as well as how to overcome difficulties and obstacles. I was always eager to be the best and to grow, and eventually I worked in top-notch catering establishments. The hospitality sector built who I am today.”

True to form, Matthew’s choice of subject when he at last ventured into studying spoke of his taste for diversification: rather than hospitality, he graduated from the University of Middlesex in 2017 with a First Class Honours in Accounting and Finance.

“At that stage, I was simply following opportunities and money-making prospects, so I applied for accounting jobs in London. I sent over 2,000 CVs and attended over 50 positive interviews with top firms, but my instinct said not to pursue those jobs. So instead, I bought a ticket to Malta and accepted a job with Apex Fund Services Ltd. I learnt then that if you follow your heart, the money will come. I worked in Malta until I had the feeling it was time to resign, without any immediate plans or savings. But I chased that feeling, anyway.”

Despite having several exciting business ideas, Matthew received just as many funding rejections, prompting another sideways move into real estate. A chance coffee break at a Marsascala restaurant inspired a return to hospitality, however, when the owner offered him the lease. Joining forces with a chef, Matthew opened Foam & Fork, eventually expanding to three outlets before he sold his share of the project to his partner – but this time, not before another ambitious opportunity had presented itself.

“I had been working at the Gzira outlet when someone from Wolt approached me to include the restaurant on Wolt’s food delivery platform. I proposed partnering as a new company, so I could oversee the logistics of Wolt delivery service,” he recalls. Diving in head-first without experience in the field, Matthew’s first hurdle came while on holiday, when the onset of the COVID-19 pandemic sent the world into lockdown. “The company was set to launch once I had returned to Malta – but since I was stuck in Mexico due to the pandemic, WFDM Ltd had to launch from there!”

Initially running every aspect of the company solo – from marketing to accounts and even motorcycle maintenance – Matthew quickly expanded the team and led by example. “The people make the business. We now employ more than 300 people, while around 5,000 globally are dependent on the company’s success. I feel a responsibility to grow the firm to ensure that our people can feed and support their families. That is the lot of a leader, of a CEO. In every company decision and every financial investment, I still follow my heart and my passion, but now I channel that passion into making a profit for the company, as well as for everyone working in it.”

Although WFDM Ltd began as a transport and catering provider in 2020, the pandemic catalysed an unprecedented influx in demand, which opened the door to another growing business need: recruitment. Spotting the potential, with many people losing their jobs and employers struggling to recruit, Matthew channelled the company’s growth into establishing a recruitment arm. “Although we were a logistics firm, I saw that WFDM was holding hundreds of interviews per day, both in person and online. It was clear we were already moving towards recruitment, so we got licensed as a temping agency to focus on this aspect of the business. There was a gap in the market for a high-quality recruitment agency that could connect top talent with the best job opportunities, and I was determined to fill it.”

With WFDM Ltd’s signature passion, hard work and dedication to exceptional customer service, Matthew has since led the team towards becoming one of Malta’s largest and most successful recruitment agencies, even expanding into Cyprus in 2021 as WFDM Holdings Ltd, disrupting the market there as it had done in Malta. The company’s steady upward trajectory and ongoing growth have also created further opportunities for diversification. “We are soon to invest in two new tech businesses – the first project in which we are not partnering with another entity. We’re investing in Doup and MS Smart Software Solutions, as I foresee that both these innovations will disrupt the world market in terms of connectivity. I firmly believe Doup chat will one day kill WhatsApp.”

Doup offers a clever – and greener – alternative to the traditional paper business card. Its product range is equipped with hyper-flexible NFC technology, a dynamic QR code and a user-friendly platform, to make managing professional connections quick, easy and memorable. Meanwhile, IT service provider MS Smart Software Solutions was founded in 2021, specialising in developing web-based business portals and mobile applications to solve key business issues for top clients in Malta and across the globe.

As the business continues to diversify, so do the challenges of Matthew’s multifaceted role – as represented by his unique office set-up. “I have four different screens open and running on my desk, with the fifth being my laptop. I’ve always wanted to bite into a huge slice of the business pie, and each of these screens represents a piece of it. But as a human being and a father of two, I have had to reconcile myself to the fact that my mouth is sometimes not as large as the slice of pie I want to bite into. My role is interesting, challenging and I’m never bored – but, still, I always make time to watch SpongeBob SquarePants with my son. My biggest hobby, and my biggest priority, is my family.”

While 2024 will bring more diversification and internationalisation, Matthew – and by extension, WFDM Ltd – intends to become more specific in terms of choice of ‘pie’ over the year ahead. “Beyond our focus on Doup, MS Smart Software Solutions and other technological investments, we also rent motorcycles through WFDM Rentals, link project managers and tradespeople in the construction industry through Property Management Ltd, have started a marketing arm of the business to cover our PR in-house, while also continuing our Wolt delivery service and recruitment agency. It’s a lot, and I am saddened to have to turn down new business opportunities. But I’m only one person and physically can only achieve so much in a day. That said, this is also an opportunity for growth, so we are excited to focus on the slices of pie that we have, to taste every bite and to grow and nurture them even more,” Matthew concludes.

This article is part of the serialisation of 50 interviews featured in MaltaCEOs 2024 – the sister brand to MaltaCEOs.mt and an annual high-end publication bringing together some of the country’s most influential business leaders