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We tried raising money for 5 months last year and we talked to partners from about 20 European VC, but we were not successful. We got no or low-balling offers at best. I guess we were missing what people call "social proof".

This was our pitch deck by the way (not meant for marketing but for context): http://www.instaff.jobs/download/InStaff_Pitch_Deck.pdf

We don't need money, because we have been cashflow positive and growing for a while. And since fundraising was hyper time consuming we will not get back to fundraising again.

But I don't want to "rage" against the VC scene here. To each his own and I wish everybody who raises money successfully to grow his business all the best.




Thank you - I knew it. :)

You don't have to follow up, but if you do: what valuation were you seeking and what's the highest low-ball offer you received?

For me the lowest valuation given your numbers and model would be $10m - but I am certain you were seeking a much lower valuation, and did not even get that. So what were you seeking and what offer did you get?

(By the way, the way I analyze your story it's not a social proof question: it's that you weren't in silicon valley.)

If you don't want to reply here you can email me at the address in my profile. Thanks.




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