Post-Campaign Founder Interview: Mihai Darzan
In July 2020, the Ringhel team behind Procesio set out to raise a €400,000 round to fund their vision for their No-Code Platform as a Service for non-technical people, empowering companies to adjust faster to market changes, with lower costs, using existing business personnel. Procesio smashed their target, raising €525,000 from 74 investors.
Almost one year later, in April 2021, they returned to SeedBlink with the aim to raide €500,000, adding another 108 supporters to their vision, and €610,000 instead.
After their successful rounds with SeedBlink, we sat down with the team at Procesio to discuss their experience raising funds by crowdinvesting for their No-Code business.
What does "success" mean to you and PROCESIO?
For us, success means not only delivering on our promises but delighting our users, investors, and the people in our network by exceeding their expectations.
We are aware that, a community that understands our vision and the possibilities revealed by our product, is key to our current and upcoming stages of growth. Therefore we pay extra attention to the relationships we’re building with people, and how well we communicate. It’s important to get everyone on board right from the beginning and to keep them involved and aligned throughout our growth.
What were your expectations when reaching out to SeedBlink?
Our main expectation has been to raise the amount we were aiming for, and both rounds launched on Seedblink exceeded our targets, so we’re very happy with that!
Even though the launched funding campaigns have been purely crowdfunding rounds, we are thrilled to actually receive extra support from some of the investors, who have chosen to get involved and help us generate product awareness, whenever they can.
How did the selection meeting with the Funding Committee go?
We have had an initial discussion where we presented our case, after which the Funding Committee challenged us. We’ve provided answers, showed stability, and that we know what we’re doing and the direction we’re heading to.
How would you describe the interaction with the SeedBlink team before and during the crowdinvesting round?
Overall, things went according to plan and we have coordinated well with SeedBlink’s team, both in terms of operations as well as communication. It was good that the process was well defined, with clear steps from start to finish; this helped us understand what we have to do to run a successful round.
A piece of advice I would give to other founders is this: do your best to become known to the investors beforehand; this will help you gain credibility and subsequent support.
Is there anything you would have done differently in your campaigns? What do you think was the most important thing for completing the round?
I believe that, overall, we’ve chosen the right approach. It certainly helped that many investors already knew about us, beforehand. We have opted for short rounds – the first one lasted just two days and we have oversubscribed. The second round lasted about 9 days, due to some modifications in SeedBlink’s procedure. We have also oversubscribed this round.
How would you describe the post-investment support from SeedBlink and its partners? Did you get anything?
We’re glad to be part of SeedBlink’s Alumni community, which helps us raise awareness and connect with other startups and potential new investors.
We know SeedBlink has more developments in the pipeline for this area, also for improved networking; we’re looking forward to seeing them live!
How has the experience with SeedBlink impacted the awareness and traction of PROCESIO? Would you recommend SeedBlink to other founders?
It has had a big impact, firstly because of the funding round itself – which allowed us to raise money to continue developing our product – and secondly because of the awareness we got. Yes, I would recommend SeedBlink.
What advice would you give to a tech entrepreneur looking to scale up using crowdinvesting?
I would say: work on your network. If people already know about you and have a good understanding of your vision and business plans, you can consider the funding challenge half-won.
By Bianca Iulia Simion
PublishedMarch 06, 2022
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