Blog Post
E35. Patricia Salume, VeeLoop - It’s Not All About The Money
#cofounders #bootstrapping #venturecapital #angels #investorfit
£300k raised
Patricia Salume is the Cofounder and COO of VeeLoop, an innovative online approval and payment service to help young people shop online, whilst keeping parents in the loop. Patricia worked as a management consultant before starting VeeLoop in 2017 with co-founder Randa Bennett.
Patricia and Randa met through a local Facebook group, showing how it’s possible to find business partners in unlikely places. They attempted a first round of investment early which didn’t work out because of the common investor feedback “We need to see traction”.. They bootstrapped for some time, building the product and getting several retail customers onboard.
After multiple successful rounds totalling £300k, Patricia learnt that being pregnant whilst raising investment is possible and it’s best to address the elephant in the room transparently.She also learnt that it’s not just about money when it comes to finding the right investors; there are other factors.
In this episode you’ll discover…
- Why it’s best to address the elephant in the room
- What investors bring beyond money
- Why you always need a plan B
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