VC funding not your jam? Here are 5 alternative ways to fund your startup!
Summary
Getting VC funding isn’t easy at the best times and is even more difficult in the current economic climate as investors tighten the purse strings and become a bit more hesitant. At the same time, it’s important to note that VC funding involves giving up a degree of equity and control – which many founders don’t like to do. Heura, the food tech innovators from Barcelona, ran a super exciting crowdfunding campaign earlier this year when it raised over €4 million in just 12 hours. It’s an increasingly popular way to get started with startups like Typeform, Sumup and Hotjar providing some inspiration on how it’s done (these companies have since raised VC, but got off the ground with bootstrapping). You generally need a solid background and credit rating to get a bank loan, but if you do, the benefit is that you’re still in charge and not a large VC farm.