{"id":31956,"date":"2023-10-20T14:26:26","date_gmt":"2023-10-20T14:26:26","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/some-timelio-advice-on-getting-the-right-investors-startupsmart\/"},"modified":"2023-10-20T14:26:26","modified_gmt":"2023-10-20T14:26:26","slug":"some-timelio-advice-on-getting-the-right-investors-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/some-timelio-advice-on-getting-the-right-investors-startupsmart\/","title":{"rendered":"Some Timelio advice on getting the right investors – StartupSmart"},"content":{"rendered":"
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The type of investors a young startup brings on board can \u201cmake or break\u201d the business, Timelio CEO and co-founder Charlotte Petris says.<\/p>\n

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She says it\u2019s important for early-stage companies to carefully select the right group of investors, rather than jump at the first sign of cash.<\/p>\n

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\u201cIt\u2019s very important to select the right investors for your business,\u201d Petris says.<\/p>\n

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\u201cMoney is effectively just a commodity, so it\u2019s about finding the right people at this early stage. It\u2019s difficult to be more selective but it pays off in the long run.\u201d<\/p>\n

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Timelio has just closed a $500,000 funding round, and Petris says this cash injection comes with a syndicate of investors that will be able to help grow the Melbourne-based P2P invoice finance platform.<\/p>\n

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\u201cWe\u2019ve got some great investors on \u2013board, including some high net-worth investors that were existing customers on our platform,\u201d Petris says.<\/p>\n

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\u201cOur investors are really passionate about what we\u2019re doing and they share our vision for the business.\u201d<\/p>\n

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\u201cThat really highlights the confidence and excitement they have in our future.\u201d<\/p>\n

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Raising their invoice<\/b><\/span><\/p>\n

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Timelio is a two-way online marketplace<\/a> for invoice financing, connecting businesses with investors who are willing to finance their invoices.<\/p>\n

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After launching in April, it has now traded over $3.5 million in invoices. These figures have doubled quarter-on-quarter, and last month was Timelio\u2019s most successful to date.<\/p>\n

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The capital raising, which was at an undisclosed valuation, will be used to fund the startup\u2019s \u201cambitious\u201d growth plans, invest in the technology and expand the team.<\/p>\n

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\u201cWe\u2019ve proven our model and the money we\u2019ve raised is to really scale it,\u201d Petris says.<\/p>\n

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The funding round will also see StartupAUS director and SpotJobs.com CEO Glenn Smith joining the Timelio board as Chairman.<\/p>\n

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A rebrand<\/b><\/span><\/p>\n

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The business was originally launched by Petris and her husband Andrew in April under the name InvoiceBid, but the team soon realised that this was a bit too restrictive.<\/p>\n

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\u201cInvoiceBid was a too narrow description of what we do, and we\u2019re expanding beyond that now,\u201d Petris says.<\/p>\n

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\u201cWe realised fairly on the importance in this market of standing out from the crowd and differentiating, especially for gaining credibility and trust from our customers.\u201d<\/p>\n

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Changing the name in August still wasn\u2019t an easy decision though, with the team running the risk of losing the brand and reputation that they had built over the start of the year.<\/p>\n

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Just with the capital raising though, Petris says it was all about preparing for the long-term future.<\/p>\n

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\u201cIf you\u2019re going to do that it\u2019s best to do it early on. It\u2019s like an investment in the brand,\u201d she says.<\/p>\n

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\u201cIn the long run there\u2019s definitely a pay-off with being unique and standing out.\u201d<\/p>\n

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Want to grow your business with Instagram? <\/i>StartupSmart School can help<\/i><\/a>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 The type of investors a young startup brings on board can \u201cmake or break\u201d the business, Timelio CEO and<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/31956"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=31956"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/31956\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=31956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=31956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=31956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}