How do you raise money for your startup without having an MVP?

Question

Roberto Hernandez · Accepted Answer

@mattcrail I ran a Google ads campaign and I got 20 sign-ups in 2 weeks. I also tested out prices tiers. Now I have a clickable prototype ready. But I don't know how to raise money at this stage

Matthew Johnson · Answer

Why raise money if you haven't really built or validated anything?

Ruben Wolff · Answer

It is a bit difficult, if you don't have anything to show investors, they can't be likely to invest. So unless you and your potential co-founder(s) have a lot of savings, you'll need to have your MVP ready to look for funds

Wael Khattar · Answer

If you're an experienced team you can probably do that

Otherwise I've seen startups raise with a UX/UI prototype and a great pitch

You can also build a landing page on a No Code tool, heavily market it and get a decent waitlist then fundraise

Alyson Bonk · Answer

Have a team with Top Tier credentials, address a massive market, demonstrate pre-product traction with LOIs and industry testimonials, and line up an early design partner to use your MVP.

Gleb Braverman · Answer

Team + founder are very important, also founders' ability to pitch and get people excited.

Roberto Hernandez · Answer

@mattcrail It makes totally sense. Though in the fin-tech area is really tough to start developing the solution since there are external things(country's law, regulations,etc). Anyway your info is so valuable.

Matthew Johnson · Answer

@roberto_hernandez1 You can certainly go and start reaching out to investors now (and here's a blog I did with some tips https://taskablehq.com/blog/how-to-approach-investors) but right now is the best use of time to spend all day fundraising and trying to talk to investors, or building your product and getting users? If you do the latter, it makes the former much easier down the line.

How do you raise money for your startup without having an MVP?

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