Show HN: Founderpath – Raise $10k-$1m in 72 hours, free revenue analytics

Hey HN!

We're launching Founderpath today to help saas founders raise cash without diluting their company

Instead of a merchant cash advance needing to be paid back within 6-12 months, our standard deal is 15% interest, 4 year payback, $200k check

We get no equity, no warrants, no weird covenants, and don't require personal guarantees

This cash is way cheaper than if you were to raise from a VC (normally diluting your equity pool by 20%+ and losing a lot of control via a board seat and veto powers)

We're around all day today showing demos & answering questions over at https://www.producthunt.com/posts/founderpath

Hope to see you there!

13 points | by juhaszhenderson 1358 days ago

4 comments

  • artur_makly 1358 days ago
    Nice idea. I gave it a spin for https://VisualSitemaps.com

    and after submitting our Stripe data, it showed this page which should REALLY use some love: https://share.getcloudapp.com/9ZuXWPl5

    This page is a golden opportunity to perhaps:

    - showcase current case-studies - show more info graphics about your process - show videos from the founders - or just a random far-side cartoon.

    Now it's just a dead looking page w/ a broken image.

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    • artur_makly 1358 days ago
      Strange.. I asked for that $200k, and the computer offered me ... a whopping 13k @ 17% /3yrs. I'm guessing it doesn't just look beyond the #s..yet ;-)
  • quickthrower2 1355 days ago
    Is this a lemon market? If I’m sure I’ll use my $200k wisely I’ll self select out and get a second mortgage for 3% or whatever. Leaving the riskier people to come to you?
  • whimsyzero 1358 days ago
    Clicking connect with "Quickbooks" results in a "500 - Server Error" fyi.

    But, interesting model. How does this deal compare with getting a loan from a bank (e.g. SVB)?

    [-]
    • mritchie712 1358 days ago
      15% is not a terrible rate. If you look at companies like OnDeck[0] they start at 11% and don't lend to SaaS companies. There are also companies that already do this like "saas-capital"[1] which start at 12%. SVB won't lend until you're > $1M ARR. This just slightly above the market rate for a lower MRR SaaS company.

      0 - https://www.ondeck.com/resources/top-10-faqs 1 - https://www.saas-capital.com/our-approach

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      • Nlarch13 1358 days ago
        i've sent founders to all those firms (list of 50+ debt providers and their cost here: https://docs.google.com/spreadsheets/d/17M_zgfNG20Z-cqQ6SqxQ...

        SaaS Capital: Won't touch you unless you have $3m in ARR. Yes they can get down to 12% but they also take warrants. We'll start at $250k in ARR, and take no warrants.

        SVB: Banks will only lend to software companies if they have VC backing. (yes they lend at cheaper rates)

        OnDeck and Kabbage/others are at 25%+ interest rates. Read the terms.

    • Nlarch13 1358 days ago
      working on this now, good catch. site is getting slightly overwhelmed.

      in terms of SVB, banks are a great option if you've raised VC. they can usually give you debt at 5-6% interest rates and 0.1-.5% warrant coverage but will only do a deal with you if you are "sponsored"

      (meaning you've raised VC).

      we're a much better fit for bootstrappers

  • optemization 1358 days ago
    why do you think the vc have not thought of that? also, why do this over like the shl micro angel?
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    • juhaszhenderson 1358 days ago
      VCs are in a different business with a different model. VC is always great for the VC, not always so much for the founder. So this is a great alternative
      [-]
      • Nlarch13 1358 days ago
        yeah agree. there will always be big need for VC capital to fund big billion dollar ideas.

        we're focused more on helping folks that want to bootstrap a $5-10m business and don't want to give up equity.