$50k+ Non-Dilutive Funding

With a staff of 25, rapid growth and a presence across 5 platforms, REMOJO was a venture-backed cash-guzzling monster of a startup.

Challenge

To maintain maximum momentum and preserve cashflow, I needed to access every source of funding available.

Importantly, I raised 3x equity rounds over an 18 month period, and needed to avoid over-dilution and spending too much time networking and building investor relations.

This led me to explore all avenues of funding, in particular revenue-based capital advances and non-dilutive loans.

Solution

1. I became an expert on non-dilutive financing and alternative sources of capital

2. In addition to securing ~$150k in R&D grant funding, I also unlocked ~$50k in debt and revenue-based financing, leveraging our monthly, quarterly and annual recurring revenue streams to the maximum

Results

I was able to secure ~$50,000 in alternative revenue-based/debt financing from Stripe Capital and Braavo Capital.

We also secured over £100,000 (~$139,000) in R&D tax credits from HMRC over two financial years - paid directly as a cheque and cash credit to our business bank account.

The funding was enormously beneficial in extending our runway after the last convertible equity fundraising round and gave REMOJO an additional 2-3 years of support without needing to return to the dilutive capital markets.