Karsten Wenzlaff, Advisor
August 26th, 2025
Start It Up | iamibrahim | Feb 11, 2021
Some businesses are not a great fit for angel or venture capital fundingWhat if your startup is a good candidate for investment, but you’re having trouble getting meetings and convincing investors that your company is the next big thing?
Here are 11 tips I learned from a millionaire entrepreneur who gave a talk as part of the Young Entrepreneur Council’s webinar series. These tips will help you to attract the eye of an angel investor or a VC, and make your business a more appealing investment.
Networking is usually the number one tip for new entrepreneurs for good reason — networking allows you to pitch your startup in a less formal, more organic fashion.
“If you’ve been building a great business, getting out and networking within the local startup and investing community can be a great way to meet investors,” recommends Diana Goodwin of AquaMobile Swim School. “Most of my meetings with investors developed by being out at an event and mentioning my business.”
While there is something of an art to the organic soft-sell, when done right it can make investors more likely to consider your business. After all, you’re not just pitching your idea — you’re also strategically relying on the social capital built through the networking process to influence their investment decision.
It can be a difficult cycle to break: You need money to get customers, but you need customers to get money.
A catch-22 this may be, but it’s worth making an effort to acquire customers or users before you approach an investor, rather than seeking funds first and customers second. “Make a plan to get your first customer that doesn’t depend on huge outside investment,” says John Rood of Next Step Test Preparation.
Why is this so important? “Particularly if you are a first-time entrepreneur, it will be much easier to get investments on good terms (particularly from non-institutional investors) if you have some traction first,” he explains.
Investors want proof that your idea is going to work, and nothing proves this better than having real, paying customers.
While investors may believe in your business, their investment is ultimately a means to an end — they need to make money on their investment. So, it’s important to highlight what they will personally gain from investing in your business.
“Whether you’re pitching an angel, VC, or your rich uncle, it’s imperative to show how you’re going to get them a return,” explains Nick Braun of PetInsuranceQuotes.com.
“It’s tempting to focus on yourself and your business model, but ultimately, investors want to know what’s in it for them. The best way to stand out and get interest is to clearly illustrate how and when you will get them a return.”
“With the popularity of fundraising platforms like AngelList, Gust, and CircleUp, you are no longer restricted to only being able to raise money if you’re in Silicon Valley,” says Fan Bi of Blank Label. “If your business has best-in-class metrics for your industry, you will be able to raise money.”
His advice? “Post your business to one of these sites highlighting your best metrics, and find investors on the platform covering your industry.”
To attract the attention of an investor, make sure your product solves a real problem. Too many entrepreneurs simply try to reinvent the wheel, so avoid being one of them.
“As Jeff Hammerbacher, Founder and Chief Scientist of Cloudera, put it, ‘The best minds of my generation are thinking about how to make people click ads. That sucks.’” says Aidan Cunniffe of Dropsource. “I’ve found more investors than I expected who were tired of funding ‘me-too’ apps and incremental advances.”
“Build something first, whatever business you’re in,” adds Jay Johnson of Small Lot Wine. “Do it as scrappy as you can, and get users and revenue. There are many ways to do this thinking outside the box.”
“As the old proverb goes: Fortune favors the bold,” Aidan says, and advises other entrepreneurs to try to “do something wonderful.”
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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The European Banking Authority has published a document that addresses anti-money laundering (AML) and counter-terrorist financing (CFT) when it comes to crowdfunding. The guidelines for crowdfunding platforms are incorporated into the Final Report “on customer due diligence and the factors credit and financial institutions should consider when assessing the money laundering and terrorist financing risk associated with individual business relationships and occasional transactions.” The report was part of a consultation regarding KYC requirements.
The first section of the report is described as generic and applying to all firms. The second section, Title II, is sector-specific and designed to “complement” the first section. Specifically:
“[Title II] sets out risk factors that are of particular importance in certain of those sectors and provides guidance on the risk-sensitive application of Customer Due Diligence measures by firms in those sectors. So as to foster greater convergence of supervisory expectations of the measures firms should take to tackle emerging risks, additional sectoral guidelines have been added to the original Risk Factors Guidelines on crowdfunding platforms, providers of currency exchange services, corporate finance, and payment initiation services providers (PISPs) and account information service providers (AISPs). Therefore, in total Title II now contains thirteen sectoral guidelines about very different key financial sectors such as for instance correspondents banking, retail banking, electronic money, money remittance, life insurance and investments firms.” [emphasis added]
The EBA posits that crowdfunding service providers (CSPs) should recognize the risk of the borderless nature of their transactions as customers may be located anywhere in the world, including high-risk locations. The EBA states that CSPs should know their customers as to not be utilized for illicit activities as funds could be used to finance a terrorist attack.
The advent of pan-European crowdfunding rules, where an issuer may raise up to €5 million across all EU member states, may have compelled the EBA to address online capital formation in regards to securities crowdfunding.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Guest Post | March 5, 2021

Starting a new business isn’t easy at all. The world is littered with start-ups that failed in their first year, and you don’t want to become one of them. However, if it wasn’t challenging, then everyone would be doing it, and it’s all part of the experience of creating a start-up. While every business journey is different, here are some of the challenges most start-ups face.
Setting up a successful business doesn’t come cheap. To see your idea through, you may need millions of dollars of investment, and finding it isn’t always easy. This area has been opened up a lot in recent years with changes to initiatives like equity crowdfunding, but it’s still one of the biggest hurdles start-ups face. Getting that initial money in can set the ball rolling for your business, but you’ll have to work hard to secure it.
Sometimes it’s your own expectations that can hold you back the most. The word start-up is very loaded. We tend to think of exponential growth, exciting markets, and fast money when we hear the word start-ups, but for many businesses, this is far from the truth. Business success takes time to achieve, even if you’re one of the lucky ones.
The majority of start-ups fail in their first few years, so you have to be realistic with your expectations. This will allow you to make better decisions for your business.
How do you create a buzz around a brand-new business? Many start-ups are entering into markets where there’s fierce competition, and they’re up against established names. In these cases, it can be extremely difficult to get your brand recognized.
This is where innovative marketing comes in and can make all the difference. Branding can be something that sets you apart, but if you’ve not got it right, it can mean you never stand out from the crowd.
The world changes quickly, and if your business can’t adapt, then it will struggle to get off the ground. For example, in the early 2000s, business travel was huge. If deals needed to be made on the other side of the world, then you just flew over there. However, changing global opinions and technological advances have meant that travel budgets are much tighter.
If you’re not using innovative services such as Amex Global Business Travel, then you might not be making the most of the opportunities a changing world offers.
Your employees are one of the most important parts of your start-up, and it’s important you find people who are going to fit with your culture. It’s easy just to look at job-specific skills when hiring, but you really want somebody who’s going to grow with your business and embody your values. Those first employees will leave a big impression on your business for many years to come, so it’s worth putting the extra effort into your hiring decisions.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Wealth Professional | James Burton | March 2, 2021

A Montreal-based fintech company has secured more than $1.1 million through the Frontfundr equity crowdfunding portal as it positions itself to go public.
Hardbacon brought in $1,136,400 from more than 800 investors, smashing its $500,000 fundraising goal. The company, which markets a personal finance app, has thus completed one of the largest rounds of equity crowdfunding in Canada, with this laterst round bringing its total financing to more than $2.2 million since its inception.
A B2C app for self-directed investors, it generates revenue from Hardbacon Premium subscriptions as well as from lead generation and sales of its two white label solutions for financial institutions: a portfolio analysis module and a financial planning module. Its partners include National Bank Direct Brokerage and Desjardins Online Brokerage, and it also has an advisor feature.
The funding will be used to accelerate the fintech’s growth and fuel its ambition to reach the summit of the lead generation market in the financial services industry.
CEO Julien Brault told WP: “Raising a round of over $1 million with a goal of $500,000 is a huge vote of confidence from our user base and the Canadian public. It put us in a very good position to execute our growth plan as well as go public. This round, which is among the largest fundraising round in FrontFundr's history, proves once more that equity crowdfunding is a valid financing option for tech companies in Canada. I’m pretty excited about closing such an historic round and it will give us the fuel we need to hire the right people to execute on our growth plan.”
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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