We raised investment when Raffle.it was nothing more than an idea from three three fantastic forward looking individuals. It was relatively straight forward and stress free, all three investors being very supportive and flexible.
We didn’t know we were born.
We’re looking to raise more now to really get the ball rolling, build the team, improve the site, spread the word, that sort of thing. We need more this time, more than an individual investor (often referred to as an Angel) would be comfortable putting up but not enough to prick VCs’ ears.
I read Paul Graham’s article a couple of days ago and it had an incredible effect – I didn’t feel alone, that we were approaching this in the wrong way, or that Raffle.it was a silly idea. Paul Graham is a partner a Y Combinator now and has a great deal of experience with new start ups.
I urge you to read it irrespective of whether you are trying to raise money yourself (if you are and haven’t read this, you absolutely must – it will keep you sane). It will give you a greater understanding of the journey most new entrepreneurs have to travel before you ever see the fruits of their labour.
