share of open capital
valuation before raising
“The network driven funding fosters a trusting relationship between the team and investors.”
Also, the trustworthy relationship we created with our network and the idea of offering an investment opportunity to our connections that already knew Stouring really helped. In itself, just contacting those people within our network was a key success factor.
I had met Jeremy (co-founder of SparkUp) at the 2013 Entrepreneur Tradeshow. At this time, raising funds wasn’t in my mind at all. I knew it could be a possibility medium-term but that I had to develop my business beforehand. I was conscious that a company needs traction to generate interest from the investors. SparkUp kept in touch until we were finally ready to look for new investors. Thus, we launched the Stouring fundraising campaign in early 2016.
The conditions were the ones we had defined beforehand. The people who didn’t accept our terms weren’t allowed to enter Stouring’s equity. That’s the good thing with having a lot of different discussions: it puts you in a strong position to select your potential investors. Furthermore, our financial need wasn’t a matter of life or death for Stouring, so we didn’t want to give ourselves away.
You have to be ready to adapt your agenda in order to answer the amount of conversations the campaign generates.
At the end of the day, it is more of a dense process than it is a long one, with our campaign being relatively short and the persons involved quick to reply.
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