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THE WRAP 14 AUGUST – OUR WEEKLY ROUND-UP OF FUNDING NEWS

by DIANA DORAHY|15 August 2020

Female Founding News

Hi and welcome to the wrap, a quick look at the week that was.

We had a great session with our masterclass host, Jeffrey Broer this week talking all about how to get that investor interview. We’re calling Jeffrey our reviewer-in-chief as he’s looked at more than a thousand pitch decks. We had some great questions from our members including, “what makes a great “team slide”? and “how much detail should I include under “financials”? Thanks Jeffrey!

Tying in with our masterclass this month, we also published a handy guide to mastering the elevator pitch. There are five key tips including kiss – not that kind. Check it out in our newsroom.

Plus, we launched Raise Role Models this week, our very own showcase of female founder success. And we’re delighted to announce our inaugural model is Fei Yao from New Campus. She’ll be joining us later in the month to talk about all things, pivot. She’s successfully transitioned from an offline business to an online and back to an offline. Sign up for this free event on our Facebook page.

 

In funding news this week…

India-based consumer beauty brand MyGlamm has acquired POPxo, an Indian digital content platform for women.

The acquisition will help build ‘the largest 3C company in South Asia’ (Content + Community + Commerce) with a focus on products in the beauty and lifestyle category. POPxo has 43 million active users and MyGlamm has 2000 points of sale. A beauty marriage made in heaven.

Financial terms weren’t disclosed but earlier this year both companies raised around $10 million. Revenue projections for the two companies are estimated at $54 million by the end of 2021.

 

My story of the week this week….. 

Goes to a piece about how technology has the potential to eradicate gender bias.

As we continue to move away from face-to-face interactions and transition to online and digital applications, inevitably we eliminate inherent and systemic bias.

A computer algorithm does not increase or decrease fundability according to a last name, a skin tone, or an accent, and it can review data holistically to create a full picture of fundability faster and more efficiently. The answer is simple — look toward technology.

And it should mean that racial and gender disparity in lending can be eradicated and fintech leaders can usher in a more equitable era for small-business lending. Here’s hoping.

 

My tip of the week this week… 

Comes from a piece entitled, Surviving being a Female Founder:

  • Recognise yourself as a business owner
  • Don’t be afraid to meet your financial goals head on.
  • Define success on your own terms. That doesn’t mean having or doing it all.
  • Ask for what you want. Don’t know? Write it down. Put it out there in the universe, I dare you!
  • Running a business and raising a family is hard. Ask for help.

A lot of these tips are about putting your hand up and saying, I don’t know or help me please? That’s not a sign of weakness but rather strength.

 

Coming up next week on Next Chapter Raise…

We’ve got a fabulous interview with entrepreneur extraordinaire, Angie Ho Pang. We talk all about leaving a cushy corporate job and going out on your own. Plus, she’s giving away free copies of her book, She Rises for Tomorrow, a fantastic compilation of female founder stories from around the world.

Until then, have a great weekend and see you next time on The Wrap.

 

https://www.jumpstartmag.com/beauty-brand-myglamm-acquires-popxo/

https://www.americanbanker.com/opinion/better-data-is-key-to-beating-bias-in-small-business-lending

https://seegirlwork.com/female-entrepreneurship-on-the-rise-but-we-still-face-challenges/