How easy is it for a Nigerian Startup with $1k - $5k in transactions to get $500k in seed funding?


#1

Hello Radarians,

I had a heated argument with a friend today about this and he happens to be a user here. Please can someone prove this guy WRONG


#2

Here’s your answer hot off the press form @yelebademosi

Raise/Revenue Ratio: How much you want to raise divided by your revenue or run rate

The lower the ratio, the higher your likelihood of closing the round. If you are trying to raise $250k as an African startup and your R.R Ratio is higher than 10 you are going to have a hard time

— Yele Bademosi (@YeleBademosi) March 2, 2018

#3

The figure or amount does not matter at all, even if you have not transacted any $$$. It depends on your connection. Who do you know? Forget about those noises of people lining up in different pitches and event, crying aloud to be considered for investment.
Do you have a great business idea? Invest the little that you have, prove that you beleive in your idea powerfully, you are your first investor. Get around your family and leverage on your existing connection or employ the tactics of “Borrowed equity”

Spice it up, hype your idea up and you will be surprise at how investors will be contacting you rather than you contacting them. I am a living testimony of this…it worked for me and still works and it will work for you.