What type of funding do I need?
While Series A funding is designed to be used for optimisation of a young start-up, Series B funding is meant to help start-ups expand their market reach, which means that your business will officially be past the initial development stage. Series C funding is designed for quick growth via scaling the company. For instance, this funding could help your start-up acquire another company.
While it’s possible to obtain this seed funding from family, friends, and self-funding or debt financing, the two most popular forms of funding occur from angel investors and venture capital firms. In many cases, this funding is provided in exchange for a small share of the company.
Your start-up may consider pre-seed and seed funding, which are the earliest stages of funding that can be used to help a start-up develop and grow. Pre-seed funding is designed to help a start-up get off the ground and typically comes from the founder of the start-up and any close friends, family members, and pre-revenue stage angels or business supporters.
You will need to ensure you have the correct documentation in place before approaching any business supporters, angels or VC investors. At a minimum, you should ensure you have a business plan, marketing plan, engaging pitch deck, financial modelling, executive summary and information memorandum.
What to do next?
If you are unsure where to go next or if your start-up has the correct documentation and foundations in place to go for funding, get in touch with us today!
With a highly skilled team of start-up consultants, business operations specialists and marketing professionals, we will be able to provide you with the support and advice you need to drive your start-up forward and apply for funding.