The show that interviews entrepreneurs, uncovering the moments of fear and doubt that even the most successful founders face. On Founders Uncut, you'll hear how they deal with these moments. If you're an early stage startup founder and the going is tough, listen in. You are not alone - being a founder is just hard! Host Maria Palma, General Partner at Kindred, an early stage venture capital fund, is here to shine a light on the parts of the startup scaling journey that often go untold and never make the headlines. You'll hear about: - How to hire a senior leadership team - How to successfully raise a venture capital funding round - How to motivate a team and operationalise company values - How to personally grow with your startup scaling journey so you can be the leader your company needs at every stage and stay sane in the process.
Find out more at KindredCapital.VC/FoundersUncut
This podcast was produced by Fascinate Productions
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The show that interviews entrepreneurs, uncovering the moments of fear and doubt that even the most successful founders face. On Founders Uncut, you'll hear how they deal with these moments. If you're an early stage startup founder and the going is tough, listen in. You are not alone - being a founder is just hard! Host Maria Palma, General Partner at Kindred, an early stage venture capital fund, is here to shine a light on the parts of the startup scaling journey that often go untold and never make the headlines. You'll hear about: - How to hire a senior leadership team - How to successfully raise a venture capital funding round - How to motivate a team and operationalise company values - How to personally grow with your startup scaling journey so you can be the leader your company needs at every stage and stay sane in the process.
Find out more at KindredCapital.VC/FoundersUncut
This podcast was produced by Fascinate Productions
4. Michael Rangel from Novo - Never Underestimate the Underdog, Optimizing for Survival as a Startup, Adaptability Mindset as a Founder, Raising in the Midst of COVID, Venture Capital Rounds in Good and Bad Markets
Founders Uncut: Real Startup Stories
30 minutes
3 years ago
4. Michael Rangel from Novo - Never Underestimate the Underdog, Optimizing for Survival as a Startup, Adaptability Mindset as a Founder, Raising in the Midst of COVID, Venture Capital Rounds in Good and Bad Markets
Here with me today, is Michael Rangel, Co-Founder and CEO of Novo, a challenger bank focused on small businesses. It’s currently valued at $700 million, and serves over 150,000 small businesses. Novo had kicked off their Series A fundraise in late February 2020, just as the COVID pandemic was hitting everywhere. The situation was very dynamic and Novo’s cash position was getting tighter and tighter as the process went on.
You will hear more from Michael in this episode on:
1) Raising in both good markets and bad
What did it feel like to kick off a Series A right as COVID hit the US?
As a founder, how should you think about raising in good or bad markets?
What does it feel like to look at failure as an option square in the face and feel like you might let everyone down?
What did Novo do to maintain cash position and minimize burn in order to survive?
2) The Mentality to Keep Going as a Founder
How do you maintain confidence through all the tough moments?
How Michael’s personal experiences built resilience and perspective
Why Adaptability is such an important trait for founders
3) How to survive the startup journey
How reducing burn in the pandemic actually opened up new acquisition channels vital to the future of Novo
Why the pandemic actually spurred more small businesses
Optimize for survival and nothing else
The benefits of bootstrapping in the early days
4) Building a business in the small business segment
Can you really build a profitable segment serving the S of SMB (small-to-medium sized businesses)
Why are you so passionate about serving this audience?
Why VCs, banks and others discount this segment
5) Why Be a Founder?
The challenges of fundraising and scaling pains
Why do you choose to be a founder?
What do you give up on the journey?
Who do you have to have around you to stay sane?
What motivates you to keep going on this challenging journey
If you are looking for a new job and want to join a great culture of underdogs, or are a small business looking for a new bank, check out novo.co
Find out more at KindredCapital.VC/FoundersUncut
This podcast was produced by Fascinate Productions
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Founders Uncut: Real Startup Stories
The show that interviews entrepreneurs, uncovering the moments of fear and doubt that even the most successful founders face. On Founders Uncut, you'll hear how they deal with these moments. If you're an early stage startup founder and the going is tough, listen in. You are not alone - being a founder is just hard! Host Maria Palma, General Partner at Kindred, an early stage venture capital fund, is here to shine a light on the parts of the startup scaling journey that often go untold and never make the headlines. You'll hear about: - How to hire a senior leadership team - How to successfully raise a venture capital funding round - How to motivate a team and operationalise company values - How to personally grow with your startup scaling journey so you can be the leader your company needs at every stage and stay sane in the process.
Find out more at KindredCapital.VC/FoundersUncut
This podcast was produced by Fascinate Productions
