The investment process
During the StartupSauna's coaching process Liid received their first initial investor interest. Discussions lead to an committed lead investor and it was agreed that an additional angel syndicate would be the most suitable resource to support the rapid growth goals.
Liid was linked to FiBAN’s deal flow process, which after investor screening and feedback was approved to present at PitchFinland. After a successful pitch, Liid was able to close the missing €70k investment already during networking (this is though very exceptional). This was mostly possible because of an excellent pitch and an active lead angel who would actively inform FiBAN’s investors in advance about the investment possibility. The shareholder’s agreement was signed a few weeks after.
Liid's next steps
Thus far Liid has managed to build the company off of direct sales, however, as they are getting more instalments from the US and Asia they feel the need to sharpen their online presence. Everyday five new companies install LIID for CRM and though it might seem like an OK number, Liid is looking to quadruple this amount. The plan for reaching this goal is to start marketing LIID more seriously and make online purchases possible. Liid also want to implement LIID for more CRMs, such as Pipedrive, SuperOffice and Sugar CRM, as they get a lot of inquiries about these.
FiBAN wishes the team and angel investors best of success!
For additional information
Claes Mikko Nilsen
Network Manager, FiBAN
FiBAN's news about startup investing.