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Justin Fischer

๐Ÿ‘ค Speaker
222 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

So we did it like, you know, like a two seed round, like a seed one, two.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Yeah.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

So the first one was basically your typical safe, right?

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

With the cap.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

And then the second one was a price round.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Yeah, we did that straight out of the gate.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

That was like, you know, we just came out, we had a great team deck.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

You know, it's the typical, like, what's the formula look like?

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Yeah, well, about 5 million in valuation.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

And, you know, you figure out a discount for everybody, get everybody involved.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

A bunch of my early investors were Experian and bankers and lots of great people.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

So, you know, it was a lot, you know, the first day of enthusiasm as you get going, right?

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

I also invested as well.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Yeah, that's, that's all in.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

And then I'll be in the next round as well, too.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Like I'm, I'm, I'm, I'm parring in there throwing in each round.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Yeah.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

No, look, I mean, I think, you know, the challenging thing is I have all my existing contacts and they knew where we were.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

But I think the biggest problem with new companies taking on new round of capital was that, you know, in the first parts of COVID, all the way to the mid, you know, VCs were looking at, you know, stabilizing their existing portfolio.

SaaS Interviews with CEOs, Startups, Founders
They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?

Right.