VC + angel investor capital

3 consecutive successful fundraising rounds taking 2,2 and 6 weeks from open to close, respectively. $2m raised for just 10 weeks total time investment from me.

Challenge

Like most startups, I (Jack Jenkins) and REMOJO started with no investor network, no warm referrals, no venture-track record, and little capital beyond personal savings and debt.

REMOJO was an app startup, and the cost of developing the technology, marketing, growth and customer service was far in excess of personal funds.

To scale REMOJO beyond an MVP with early traction, we needed to build a network of investors from scratch, and somehow generate enough momentum to raise a pre-seed round of £250k - all from a cold start.

Shortly afterwards, REMOJO would need an additional £650k, and then another £650k to continue scaling.

I, the founder of REMOJO, would need to raise significant amounts of funding on favourable terms, retain control, minimise dilution, and do so quickly (with no co-founder to keep the company running while I did all of this!).

Solution

To raise capital for REMOJO, I needed to build the 4 core assets for investor readiness.

1. Pitch and Deck Development

2. Investor Network and Pitch Schedule

3. Financial Model

4. Deal Structure, Instrumentation and Terms

I also needed to develop and practice a winning approach to running fast rounds, while still running the startup itself as a solo founder. The result was a set of winning principles, honed through real deal-making and with the support of excellent investor-mentors.

Results

• £1.5m ($2m) raised over 3 consecutive up-rounds

• 11x valuation growth (from £0 —> £1.25m —> £17.5m)

• 20+ investors closed - including both VC funds and angels

• Full control retained; 70% shareholding and no board seats given up