Posted: Thu 26th May 2016
In a series of monthly posts, supported by GoCardless, Enterprise Nation is featuring companies that have raised money. We're asking the founders to tell us how they went about it and to share tips for other business owners considering doing the same.
Next up is James Mansfield, co-founder of meat delivery subscription service Field and Flower.
How old is your business?
Five years old.
How much money did you raise?
Â£125,000 from a high interest bond taken up by customers and friends.
Why did you raise the funds?
To invest in expansion of our customer base with marketing activity.
What was your secret to success in raising the money?
Presenting a diligent business case that was risk free and that quickly paid back an attractive rate of interest that wasn't achievable elsewhere.
What surprised you most about the fund-raising process?
That we created interest in what was just an alternative idea to sale of equity so quickly.
What one tip would you offer to anyone else looking to raise funds?
If you can hold out and prove your business model, there are alternatives for raising finance other than having to inviting venture capitalists around the table.
Show me the money! is supported by GoCardless, a simple way to take recurring payments and to get paid on time, every time.
Also in the series: