Date: 05 October 2022
Author: FINTECH Circle
On September 27th, 2022, FINTECH Circle‘s CEO, Susanne Chishti, a fintech thought-leader, influencer, investor and award-winning entrepreneur, was hosted by our CMO, Glenn P Burgess for an “Ask Me Anything” session!
The discussion was steered by the attendees and Susanne covered as many topics as possible and answered all your questions.
This was your chance to find out everything you want to know about our industry, including:
- Running and scaling a startup
- Being a fintech leader
- Funding and what investors are looking for
- Fintech education
- Ins and outs of the fintech industry and future trends
- …And much more!
Read on for a quick tip or watch the full webinar.
Tips to raise funding, considering the current situation, economic crisis.
If you are a high quality startup, you will always succeed in raising money. By high quality, it means, that there must be a very good reason why you exist, you know, there must be a good problem you’re solving.
Since the economic crisis is, is ahead of us, it’s very important to be able to show that you’re capital efficient, and capital efficient means that you are able to do a lot with a little money you know, you’re able to stretch the investment you get and spend it wisely.
So, it’s really about how do you invest the money you get, so that you accelerate the growth of your company that investors see returns sooner rather than later.
And at the end of the day, you know, every startup has to reach at some stage in a moment where you become profitable. So investors nowadays look at what is your journey towards that, you know, what are your unit economic costs? What are your detailed plans, in terms of sales, in terms of marketing in terms of we recurring revenues or how do you achieve recurring revenues on an ongoing basis.
When you always say to people don’t reach out to investors, when you are running out of money in three months time as this is the worst moment because then you’re most vulnerable, and it’s too late.
In fact, you need to raise money, when you still have got at least nine months runway or ideally one year, then you should start thinking about raising money because it takes a while it might take longer in our current environment.
So it is very important to start early; raising money or just developing relationships with various investors, could be angel investors.
And then when you raise money, be well prepared and have good slides, a very compelling story and a good data room backing it all up.
Watch the full webinar On-Demand
Do you like this post? We have more coming! Sign up to our monthly FINTECH Insights for the roundup of the latest articles, news and industry events!