Floww — a data-driven market designed to permit founders to pitch traders, with the entire funding dating controlled on-line — says it has raised $6.7 million (£5 million) up to now in seed investment from angels and circle of relatives places of work. Buyers come with Ramon Mendes De Leon, Duncan Simpson-Craib, Angus Davidson, Stephane Delacote and Pip Baker (Google’s head of Fintech U.Okay.) and more than one circle of relatives places of work. The money can be used to construct out the platform designed to offer startups get admission to to greater than 500 VCs, accelerators and angel networks.
The group is composed of Martijn De Wever, founder and CEO of London-based VC Pressure Over Mass; Lee Fasciani, co-founder of Territory Tasks (the company at the back of movie graphics and design together with “Guardians of the Galaxy” and “BladeRunner 2049”); and CTO Alex Pilsworth, of more than a few fintech startups.
Having made greater than 160 investments himself, De Wever says he identified the will for a platform connecting traders and startups in keeping with advantage, blank information and transparency, relatively than a gadget constructed on “heat introductions,” which may have inherent cultural or even racial biases.
Floww’s thought is that it showcases startups in keeping with advantage most effective, permitting founders to boost capital via offering traders with information and transparency. Startups are given a collection of equipment and fabrics to get began, from cap desk templates to “How To” guides. Founders can then “drag and drop” their investor paperwork in any layout. Floww’s group of accountants then cross-checks the information for mistakes and processes key efficiency metrics. A startup’s virtual profile comprises dynamic charts and tables, permitting potential traders to peer the corporate’s trade attainable.
Floww fees a per 30 days price to VCs, accelerators, circle of relatives places of work and PE companies. Startups have unfastened get admission to to the platform, and a top class style to touch and ship their deal to more than one VCs.
Floww’s pitch is that VCs can, in flip, set up deal-sourcing, CRM, in addition to reporting to their traders and LPs. Fairly a declare, given all VCs up to now maintain this sort of factor in-house. Alternatively, Floww claims to have processed 3,000 startups and says it’s rolling out to greater than 500 VCs.
In a remark, De Wever mentioned: “In an age of digital conferences and connections, the will for espresso conferences on Sand Hill Highway or Mayfair is long gone. What we’d like now are international connections, permitting VCs to have interaction in merit-based making an investment the use of information and metrics.” He says the technology of the coronavirus pandemic approach many offers should be sourced remotely now, so “the time for a platform like that is now.”
AngelList is in all probability its closest competitor from the startup viewpoint. And the VC software contains the type of capability observed in Affinity, Airtable, Efront and DocSend. However AngeList doesn’t supply information or metrics.