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Original research, financial frameworks and market intelligence for founders building investor-ready companies.
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What each funding stage really means, how much you raise, what investors expect, and how ownership changes as you climb the ladder. The map before the journey.
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A term sheet is where a funding deal is really made. Here are the economic and control clauses that matter most, from liquidation preferences and the option pool shuffle to board seats and anti-dilution, in plain English.
Three ways to raise, three sets of trade-offs. A clear comparison of SAFEs, convertible notes and priced rounds, and a simple guide to which fits your stage, your amount and your investors.
Convertible notes have fallen to just 7% of US pre-seed rounds, but they are far from dead, especially in Africa. Here is how interest, maturity, caps and discounts work, what the data says, and how a note differs from a SAFE.
SAFEs now account for 93% of US pre-seed rounds. Here is how caps, discounts and the post-money structure actually work, what the data says, with a worked example and the traps to avoid, including what changes in Africa.
Series D is raised either to accelerate a rocket or to buy time to a better exit. Here is what the two stories mean, who invests at this late stage, and what belongs in a Series D pitch deck.
Series C funds market leadership: aggressive expansion, acquisitions and the road toward an exit. Here is what late-stage investors underwrite, the metrics bar, and what belongs in a Series C pitch deck.
Series B funds scale: expanding a proven engine into new markets, segments and products. Here is what investors underwrite at this stage, and what belongs in a Series B pitch deck.
Series A funds a repeatable growth engine. Here is the metrics bar investors hold you to, why so many companies stall here, and what belongs in a Series A pitch deck.
Seed funds the search for product-market fit. Here is what investors look for once you have a live product, the traction that matters, and what belongs in a seed-stage pitch deck.
Pre-seed funds the idea before there is much to show. Here is what the stage is really for, what the earliest investors look for, and exactly what belongs in a pre-seed pitch deck.
Valuation is the most argued-over number in fundraising and the least understood. Here is what pre-money and post-money really mean, how early-stage valuations are actually set, and what genuinely moves the number.
Every round you raise changes who owns your company. Here is how a cap table works, how dilution really adds up across rounds, and the levers that decide whether founders keep a meaningful stake by the end.
Investors spend about two and a half minutes on a pitch deck, and nearly half never reach the last slide. Here is what a deck is for, the 10 slides that raise, and how each one changes by stage.
A warm introduction converts up to three times better than a cold email. Here is how to find the right investors, build the introductions that get meetings, and run outreach that respects your time and theirs.
A third of deals collapse at the final hurdle over preventable gaps. Here is what happens in due diligence, what belongs in your data room, and how to prepare so a signed term sheet actually becomes money in the bank.
African tech raised $4.1 billion in 2025, but the money concentrates in four countries, one sector, and increasingly in debt. Here is what makes raising on the continent different, and how founders can prepare to stand out.
Not all capital costs you equity. Grants, venture debt and revenue-based finance let you fund growth while keeping your ownership, and in Africa, where debt is 41% of all capital, they are more mainstream than founders think.
Investors decide fast, and they decide on a handful of figures. Know these three cold before you walk into the room.
A three-statement model is not a spreadsheet beauty contest. Here is where experienced investors look first, and what makes them lose confidence.
Runway is the single number that turns a vague financial dread into a clear decision. Here is how to calculate it honestly and use it well.
Growth only helps if each sale makes money. Unit economics is the small piece of arithmetic that tells you whether to press the accelerator or fix the engine first.
You can be profitable on paper and still miss payroll. The gap is working capital: the cash trapped between paying your suppliers and collecting from your customers.
Price is the fastest lever you have on profit, and the one founders touch least. Here is how to raise it with confidence, and why a small increase does more than a big sales push.
When your costs are in dollars and your revenue is in naira, a falling currency quietly eats your margin. Here is how to see the exposure and build a business that holds up when the rate moves against you.
The monthly investor update is the highest-return hour a founder spends. Done well, it turns backers into a second team. Done badly, or not at all, it lets the relationship, and the next cheque, go cold.