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THE WRAP – OUR WEEKLY ROUNDUP OF FUNDING NEWS

by NICOLE DENHOLDER|6 June 2020

Female Founding News

This week’s round-up of the latest female funding news on The Wrap by Next Chapter Raise, presented by Diana Dorahy

Hi and welcome to The Wrap, our quick look at the week that was. I’m Diana Dorahy.

It was a busy start to the month – we had a number of members join our live Q&A with Andrew Barclay. Some great insights there:

  • How to pivot your business in the wake of Covid
  • Leveraging data to identify new ways to monetise
  • Plus, Andrew mentioned that thousands of people have already applied for the D-Biz grants and approval times are extending so get in quick. 

Andy is going to do another session too, this time on multiple currencies when cash flow planning including how to manage swings in exchange rates and balancing sales in one currency but costs in another.

We also launched a masterclass bonus session this week, this time with investor, Stephanie Ko from Gobi Ventures.

This was a fantastic session talking all about how to maximise your start-up success by ensuring your offering is right for the problem. Stephanie says that too often start-ups come to them without having properly assessed whether their offering has the right product and market fit. 

On the blog this week, a new piece on the pros and cons of a family and friends investment. We talk about and how to start, the different types of agreements and when things go wrong. Don’t accept this kind of investment without reading this first. 

Some very interesting funding news this week too. Among them, three noteworthy raises in the US.

The cofounder and CEO of women’s networking platform Chief announced a $15 million Series A1 round of funding, bringing its total venture haul to $40 million

Female healthcare platform, Tia has raised $24 million led by Threshold Ventures taking their total raise to $32 million.

Black Girl Sunscreen secured one million in funding from a private female funding source.

And NBA legend, Magic Johnson has announced he’s giving $100 million dollars to fund loans to minority owned businesses.

There was a great piece in Hong Kong’s SCMP quoting management consultants McKinsey & Company about how Asian economies are sitting on powerful and underutilized growth engine that could pull them out of the current downturn: female workers. 

They found that if Asia-Pacific economies advance women’s equality in the workplace, it could mean an extra $4.3 trillion dollars or 12% of their collective annual GDP over the next 10 years. 

Our tip of the week this week comes from Katie Rosen Kitchens. Her lifestyle brand, FabFitFun now boasts more than one million members and last year raised $80M in a Series A funding.

She says, there will always be people who aren’t on board with your vision, and it can be incredibly discouraging, but it’s okay. What makes you seem like a wild card is what ultimately will be your biggest asset. Forge through the nos.

Coming up next week on Next Chapter Raise…. 

  • We’ve got our live Q&A call with Georgie McNee, our investor in residence on Monday – tune in for that
  • Our new podcast episode is out on Monday.
  • Plus, our Road To Funding series is now available as a box set – you can sign up using the link in comments on Facebook.
  • And some exciting news for our founder, Nicole. She’s been invited to guest speak at the HEC Paris Business School, talking about female founder stories to their global alumni community.

Have a great weekend and see you next time on The Wrap.