September Update
Happy Thursday! I’m Jason and thank you for being part of INTRO to Finance. This week we are going to shake things up a bit.
We’re not answering a question this week. There are some exciting announcements we have happening in the INTRO network, and we’d like to fill you in.
INTRO’s Impact
Here’s a short report of what we saw in August:
Funded deals: ~$1M
Avg. time to funding: 2 weeks
Funding products available: ~50
Funding partners: 30
Available capital: $1bn+
We started building INTRO to reduce friction between companies and non-dilutive capital providers. These products have been underutilized and can have a large impact on the companies that use them. While we’re still very early in the process, we’re proud to have already had a hand in facilitating $1m in cash funding to companies in our network.
Of course, this only includes companies that have already received the cash. We still have a number of deals marching towards funding. We hope to have more to note in the coming weeks.
New Month, New Options
Part of the beauty of INTRO is ongoing access to different products. Your INTRO profile is a continuous financing tool that offers more options as you update it.
Based on how your company performed in August, you may have more options in our INTRO network. You can sign back into your profile and click "Update your profile" at the bottom of the page.
Once you update your numbers (or when QuickBooks updates them for you), you’ll see if your options have changed. We encourage you to sign in once a quarter to discover and access funding options that have opened up to your business.
Indie.vc v5 — 10/10/20
Just like our January 1st application, they’ll only be open for 24 hours. The new application will let you complete, save, and set it to submit during the application window, so you don’t have to return and submit on October 10th. We plan to have it live by September 25th, so you’ll have plenty of lead time to complete the application.
We’re simplifying the application process by letting you use your INTRO profile to fill out most of your Indie.vc application. Having an up-to-date INTRO profile gets you that much closer to submitting your Indie.vc application for investment.
From this week through the application date, we’ll be hosting a weekly info session with existing Indie.vc Founders. The goal of these sessions is to hear directly from someone who has been working with us, and provide a venue to ask them, or us, any lingering questions you might have before applying.
Adding Grants as a Financial Resource
In case you missed it, we’ve partnered with Opengrants.io to help you access grant funding.
OpenGrants.io provides the tools and expertise you need to find, apply for, and manage grants. Fill out a five-minute application to get connected to $250k - $3M in non-dilutive capital to de-risk and develop your venture.
You can start the process here.
Thank you again for being part of the INTRO network! We hope we’ve been a great financial resource to you as you think about funding or financing your business.
We’ll be back next week with our regularly scheduled programming. Sign up below to receive it in your inbox.
