5 ways to raise money for your amazing mobility startup
Raising money to keep your mobility startup business moving is an ideal way to roll your business with time. As an entrepreneur, you must be knowing how tough it could be to raise money and funds at every stage of business growth.
Apart from finding an investor, there are several other things that should be kept in mind while devising a strategy to ask for money.
If you can go smooth and seamless in creating and drafting a business pitch, there is no looking back. Your business can get a solid financial back and you can keep on expanding and experimenting with the scope of your business.
The mobility startup has a strong future ahead. All you have to do is take the necessary steps at the right time. Post uber disruption, people have gained confidence in public transport channels. This huge uprising demand for the vehicles can be a possible cause to go ahead and ask for the funding. If you have any game plan instead of the below-mentioned methods, do let us know.
In this write-up, we are going to discuss different ways that can help in raising money for a mobility startup.
Here are the big pointers to keep on your checklist.
Ways to seek funds for your mobility industry
Post gaining industry knowledge and showing perseverance in running your operations, you might need to have the financial support of your investors to grow and expand while retaining a competitive position in the market.
Stay open to Crowdfunding
Crowdfunding is a smart way to gain maximum funds instantly. Initially originated in the West, the concept has now been widely adopted across the globe. The prime reason for getting it more popular and adaptive in the market is its instant results. There are numerous platforms like Indiegogo, SeedInvest Technology, GoFundMe, etc., available in the market right now and easy to access. Based on your demographic preferences and business economic opportunities, you can select any of the available platforms and can pitch for investment there.
Here are the quick reasons why crowdfunding is more popular in the market:
- It is easy to access
- There are multiple platforms available in the market
- It is the quickest way to raise funds for startups
- You don’t need to pay back the capital
- You need to create a unique pitch to stand out from the competitors.
If you are an early mobility startup and are not in the position to give a return to the capital, think about sticking to crowdfunding.
Take help from friends and family
Mobility startups are growing at a smart pace since the pandemic. With the resetting of customer expectations in the market, you need to make your mobility business visible in the market.
Looking at the market scenario, we can say that mobility startup is going to see tremendous growth in the coming years. If you have a financially sound circle that is ready to help you and make your business grow with their contribution, don’t hesitate to ask for it. There are many successful businesses that have laid their financial foundation from their close relatives and friends. If you have someone in mind who can be turned out as an asset for your startup, don’t hesitate to ask for help.
You can set up an agreement or can go legally to draft a partnership or investor deed. This way, it would be easier for your startup to get money as well as the documentation part will allow you to stay stress-free for professional commitments and growth.
You can go deep with your network or might ask friends or families to start referring to you. Believe us, it is one of the smartest, stress-free, and accelerated processes to begin with.
All you have to do is identify the potential prospects and create an appealing pitch to make sure they rely on you. For more information about how to create a professional fundraising pitch, you can also loop in any experts. Moreover, for further processes, always make sure you take proper legal help.
We can also help you in identifying and locating good prospects for your business.
Get in touch with angel investors
While we are discussing potential opportunities to kickstart the fundraising process, here is the next ideal thing to do. We all know that after this mobility startup wave, capturing the attention of investors is not a tough job anymore.
The investors are eyeing the potential business ideas and are ready to put their trust vote in the initial stages of the business setup. You can get in touch with the list of angel investors who are ready to take the leap of faith and help your mobility business to kickstart from the inception stage. The easy way to reach out to them is to connect them via investor meets, online networks, or any ongoing relevant conference.
If you are an entrepreneur and are open to dissolving some of your equity in response to financial funding, seeking an angel investor for your mobility startup is a must-to-do step.
Avail or seek applicable grants for your mobility startup
There are many existing and upcoming schemes or programs that are redirected to help startups gain momentum in the market. You can do your homework or can check with relevant authorities for the same. It will help in making sure you don’t miss out on any interesting opportunity, coming your way.
The financial grants, schemes, and programs are often crafted, keeping in mind the inception level hurdles of a startup. Though the financial grant is less in figures, it is always advised to avail of the offer.
Not only does it help in adding the money to your account, but also plays a strong role in ensuring that your business stays in the eyes of the potential market. As a startup, you too need that visibility and sustainability in the market. Choose to go with an easy introduction, by seeking these official grants and many more.
Give a heads up to venture capital firms
Are you a startup and working in the ideation stage? Are you not sure about the further roadmap for your business? Think about choosing venture capital firms to bring the best results for your business.
Venture capital funds are an ideal option that can help you in giving the much-needed capital for your mobility business.
Unlike grants or asking for funds from family and friends, this is your jackpot. All you have to do is ideate your concept with workable processes. If any venture finds the hidden potential of your business, there is no looking back. You can choose to keep your business moving with the huge funds offered by venture capital firms.
The technology you need!
Irrespective of your decision to go with any of the methods to ask for funds, you need to keep your business moving. For any mobility business to grow and excel, the need of integrating with the right technology is a must. It will help in adding the technology quotient to your business and makes you a tailor-fit name in the market.
For more information regarding the selection of technology, feel free to get connected with our team at Jugnoo.
The final wrap
Going beyond and above the processes to raise the funds is no longer a luxury. Choose the right pitch, and the right set of technology to go strong in front of the investors.