Whether you're looking to raise funds for your startup idea or just curious to find out what it takes to convince investors to invest their hard-earned cash into a fintech, raising capital is no easy game. While hope may be low with Covid-19 and investment in the fintech sector at a three-year low, fear not, as deals are still being made. Here we give you access to our tips and, access to the pitch deck that helped Astat raising NOK 4.5M.
If you are unfamiliar with Astat, Astat is Norway's first, customer-centric bank challenger for small businesses and startups. We will be offering a full suite of useful financial tools and services for small businesses who are usually subjected to a lack of customer service and typically have to shop around for their optimal services, rather than have it all under one roof. We believe that everyday banking should be easy to use, accessible and under one roof. We offer a business account that includes features such as:
- Automated accounting.
- Financial forecasting.
- Easy and quick onboarding and KYB.
- Automated receipt and expense tracking.
- Invoice generation and bill management.
- Virtual cards (Google Pay & Apple Pay).
Plus many more features to come!
It has been a relief to have finally closed our first round of funding. On behalf of the team, we are eager to continue our journey with the same efficiency and execution as before, now with funds to work like rocket fuel for delivery.
Here are our tips for your raise:
- Be clear and decisive with the funds that you are planning to raise. Make sure that all dialogues are transparent with deliverable targets, salaries and expenses.
- Stick to the plan and grab it with both hands. Ideas are worth nothing without execution. The team at Astat continued to deliver throughout our fundraise, always impressing investors with new developments week on week.
- Price your company fairly, build up a clear breakdown of the valuation you have set and listen to the price the market wants to pay. We didn't choose to follow the inflated pricing of comparable bank challengers across the Nordics and Europe.
- Keep a transparent dialogue with your existing shareholders and make sure you send out frequent updates on company performance, targets and goals.