Insights By Accel
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Episode
12
Digging deeper into Fundraising with Abhiraj Bhal from Urban Company
In the last podcast with Abhinav we discussed the key aspects of picking the right investor and also the actual process of fundraising. You can listen to it here.
Today, we are looking at the same topic from an entrepreneurs’ perspective. We are chatting with Abhiraj Bhal, co-founder and CEO of Urban Company, a path-breaking company in the Home Services space which has grown from zero to over 300K transactions per month in just over 3.5 years and still growing at a phenomenal pace (3–4x per year).
We are again going to divide the topic into two sub-topics — 1) picking who to raise funds from and 2) the process of fundraising. Key topics covered in this short 30 minute podcast are outlined below.
Picking who to raise funds from
- What are the factors to consider before picking who to raise funds from?
- How did Abhiraj connect with his Angel Investors and VCs?
- Importance of having an experienced Angel as an investor
- Avoidable mistakes while picking your initial source of capital
Tips on the fundraising process
- How long should someone budget for fundraising?
- Tips on preparing your investor pitch — the What, How and Why methodology
- Importance of story-telling as a founder and how to practice that and get feedback
- Being completely open with the investor and why that is important
- Best way to connect with the investor
- Initial pitch to term-sheet — the process from an entrepreneurs’ perspective
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In the next episode, we are going to hear from an entrepreneur who is a master at Story-telling — a very essential skill for fundraising as well as for recruiting and retaining employees. If there are any specific questions that are top of mind for you, please do share as a comment below or tweet us at @Accel_India
Accel shares such interesting entrepreneurial stories, with informative nuggets to run and scale your startup. Follow the links below and subscribe to our #AccelInsights Podcast Series using the following links: iTunes, Twitter@Accel_India, and the RSS feed
More Podcast from Abhiraj Bhal:
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We’re building Passionfroot 1, an operating system for creators to manage their business.
We’re based in Europe and raised our $ 3.4m pre-seed round from Creandum and US angels such as Vlad (Webflow) and creators like Ali Abdaal.As we’re creating a new category and as the creator economy is global and mostly online, we’re building from Day 1 a global company and product that helps creators monetize around the world.
This brings a lot of complexities especially in terms of payments and taxes as our early users are based both in Europe and the US and deal with cross-border transactions.What are Do’s and Dont’s for European startups who have a global ambition and build products for a global customer base from Day 1. Anything you would do differently?
Thanks @pjbouten! Love how you’ve thought about incrementally shaping a category with a focus on product and service, and only then thinking about getting the message out there vs the other way around.
And totally agree on the distinctions and overlaps both self-serve and enterprise motions share.
Thanks, PJ, for taking the time to address questions from the great vantage of shaping Showpad into a global, enterprise SaaS brand!