South American Adventures

Taking flying leaps into the unknown

Fundacity has a life of its own!

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We launched DealFlow by Fundacity, our first seed investor offering from the 3 planned, this September. Our early adopter WOW, an accelerator from Porto Alegre, bravely gave us a shot and we gave them 100% of our attention. Huge kudos to them. Like support wheels on a bicycle, we’ve had to closely support the SaaS tool in delivering on its promise: to help seed investors select the next great startup to fund.

Bugs, missing features and confusing UX plagued the early days. We work hard and take in feedback and go out and seek out some more…. speak every few days with  clients and monitor their activity on google analytics. Things started improving. The support wheels are slowly being removed.

Today, 2-3 months later Fundacity is alive. Clients are diligently reviewing and evaluating startups in their deal flow…with no involvement from us at all! Instead of  complaints about  complicated UX and distressed emails on bugs we are receiving more and more positive feedback….and finally…to our surprise and huge excitement our tool was called “intuitive” and “a lot more intuitive than others that I’ve used”! Instead of emails about bugs we are receiving wish lists for more features. Great feedback is coming in….a hugely rewarding experience for everyone in the team. We are delivering value to our target users. Freakin’ awesome!

On the startup side…growth is viral. Each client (seed investor) bring hundreds of startups with it….at an incredible rate. Once an accelerator adopts Fundacity to manage its applications process startups register on Fundacity. They bring others and all these startups apply to other accelerators. Engagement is rising. 2000+ users, 1000+ startups, 38+ countries. So far we do no marketing and no community management. We make only targeted sales calls to seed investors that we research and decide we would like to work with. Even this part we are planning to automate in 2014…… the support wheels are slowly being removed and I dare say Fundacity is coming alive and learning to fly!

learning_to_fly

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Author: Miklos Grof

Miklos is the CEO and co-founder of Fundacity. Fundacity is making startups investing easier. Fundacity already supports all the notable accelerators in LatAm in their startup selection and management and they are expanding rapidly across Asia-Pacific and Europe. With the recently launched Fundacity Investments Clubs it seeks to simplify the startup investing process in emerging markets and make it accessible to more people. Miklos has unique and extensive experience in start-up formation, business development and venture financing. He has raised and evaluated investment offers in venture capital from angels and VCs from three continents for a variety of deals. He thrives at launching businesses and making sales in new geographies. Miklos currently serves as a financial advisor and mentor for various start-ups including Taggify (an online contextual advertising company based in New York and Buenos Aires). At Taggify, Miklos advises on fundraising, financial reporting to the board of investors, tax filling and cash flow management. Miklos completed his MsC in Finance at the London School of Economics and previously worked in corporate finance at PricewaterhouseCoopers in London, fund sales at UniCredit Vienna and economic research at Erste Bank Budapest. He is a Chartered Accountant with the ICAEW, Institute of Chartered Accountant England and Whales and is quinti-lingual. He is passionate about startups and entrepreneurship and spends his free time engaging with the startup community.

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