Why these three startups are turning to this programme in order to face today’s fundraising problems head-on
Southeast Asia has solidified its position as one of the best places in the world to build, and by extension, expand one’s startup pursuits. This, however, does not preclude fundraising challenges from cropping up in the region particularly for startups that are still in their growth stages.
What makes fundraising such a challenge for young startups in the region can be derived from three particular pain points: access, credibility, and efficiency.
There is a problem with the lack of access to active and relevant investors that most founders experience. This is furthered by the limitations of what networks can be tapped within one’s small and personal circles.
As a consequence, founders are compelled to take on limited funding opportunities from its similarly limited network of potential funders, even if those funding opportunities may not be the best for them and their particular startups.
There is also a problem with the difficulty of establishing credibility when trying to raise funds. Because new founders do not necessarily have an extensive track record to convince potential funders that their startup idea is worth investing in, it prolongs the whole fundraising process.
This becomes a problem because fundraising is necessary ammunition for startups to launch their ideas into fruition, so when there is a delay in outreach, courtship, and due diligence being established from both ends—it ultimately hurts the startup.
Moreover, founders deal with efficiency problems due to the use of multiple service providers across fragmented processes, with each one trying to get a share of the fees. The lack of visibility and analytics over investor activity and the entire fundraising process also poses problems that render any active attempt towards startup growth completely inefficient.
Three startups that are overcoming these challenges
Furnishing is extremely expensive in Dhaka. Especially when students, young professionals move to Dhaka from other cities to pursue better opportunities. Let’s Furnish is the first-ever furniture subscription platform in Dhaka where any resident can subscribe to a trendy furniture rental service starting from BDT 300 a month. Also, the company provides a free swap to help them keep up with trends and feel no burden of cost.
In order to better navigate their way through the respective challenges that startups in the region face, Let’s Furnish connected with the e27 Fundraise Programme. Through the fundraise programme’s features, Let’s Furnish is given access to e27’s network of investors, build rapport with the investor community through sustained engagement, and manage the entire fundraising process in a single online platform—effectively combating that common challenges that keep startups from ultimate growth.
Let’s Furnish isn’t alone on this road. On the flip side of the coin is Lily & Lou, a Singapore based fashion marketplace that lets customers customise and design their own wardrobe.
With Lily & Lou, consumers can choose to buy ready-to-wear garments, or edit and visualise each design through an in-house customisation app that displays 3D renders on the fly. Once customers decide to check out, production will kick start where the company issues a lead time of 5-7 working days.
The three core beliefs that drive the company are sustainability, responsible consumption, and the need to provide more channels for people to personalise their clothes as a means of embracing one’s individuality.
Joining Let’s Furnish and Lily & Lou is Asia-Pacific based Fintech investment platform, Helicap.
The company specialises in the alternative lending space in Southeast Asia & Oceania, where they position themselves as agnostic investors promoting the industry’s best practices through their strategic expertise.
The company has a proprietary technology-enabled credit scoring model that helps them determine the best-in-class companies to invest in where they target an 8-12% return annually to their investors. Also, Helicap’s main thrust is helping people improve their livelihoods by driving financial inclusion and enabling their partner platforms to transform the way consumers and SMEs access credit today.
Initiatives such as the one being endorsed by Let’s Furnish, Lily & Lou, and Helicap are ones that we find important, which is why it is imperative for companies like them to gain access to potential investors that can contribute a lot to their startup growth, thereby empowering these companies to help more people in the long run.
Ultimately, they serve as great examples to the passion that the region’s startups have not only for growth and expansion, but more importantly, for helping people and making a meaningful impact in their lives. This is why companies like Let’s Furnish, Lily & Lou, and Helicap need to be nurtured and supported by platforms like the e27 Fundraise Programme.
e27 Fundraise Programme and its three-pronged approach
There are several solutions out there coming from different facets of society that all do their part in minimising these regional obstacles. What makes the e27 Fundraise Programme particularly unique, however, is its three-pronged approach to solving common fundraising problems.
In order to democratise fundraising for startup founders, the e27 Fundraise Programme has come up with three umbrella solutions that accommodate the three pressing challenges in the region’s tech ecosystem. These three umbrella solutions are the following: increased visibility, sustained engagement, and digitalisation.
Through the programme, startups are empowered to let investors know that they exist. While most young startups find difficulty in carving a name for themselves, the programme—because of e27’s massive network of investors—effectively puts young startups within their radars making fundraising well within the realms of possibility.
The second prong is focused on establishing sustained engagement between startup founders and investors, thereby helping startups build rapport with the investor community. This is achieved by giving startups the platform to show investors their startup growth and progress over time.
Lastly, in a community whose lifeblood is digital innovation, the e27 Fundraise Programme makes use of digitalisation as a way to help startups manage the processes of their fundraising pursuits from end to end, and within a single online platform that they can keep track of over the course of their negotiations.
With this three-pronged approach, startups who sign up for the programme can guarantee better funding opportunities to come their way.
The e27 Fundraise Programme is in partnership with Wholesale Investor, Australasia’s leading venture capital and capital raising platform for sophisticated and accredited investors. For more information on the programme, you may enquire here.
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