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Photo by Peter Conlan on Unsplash. Illustration courtesy of the author.

How some startups refuse the usual path of extreme-growth and aim for something else: profitability.

Writing a pitch deck teardown about Buffer earlier this week, I discovered on Crunchbase that they had only taken in $4M in financing.

Trying to learn more about the terms and investors, I stumbled upon their corporate blog. I was aware Buffer was a successful company, but I didn’t know at what scale and how they got to where they are today.

As it turns out, they did so in a most unconventional way: they grew “slow” (VC-slow) and steady over the years.

Not only are they are a completely transparent corporation, giving out their real-time revenues, employee salaries, equity schemes, cost structure, everything is out there for anyone to read, but they also refused the growth at all costs traditional way of building a startup. …

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Photo by Tracy Le Blanc on Pexels. Logo from Buffer Press Kit. Illustration courtesy of the author.

This deck raised $330k in Seed financing for a startup that chose an unusual yet successful path.

Buffer was founded in 2010 by Joel Gascoigne, Leo Widrich and Tom Moor with a great mission: automating and optimising online sharing on social media platforms.

Buffer’s story is a fascinating one in the tech world, not only due to their success and impressive achievements but also to the unconventional path they chose to follow.

First, Buffer has an incredible history of transparency, making their salary model and their equity plans available online, among many other internal information.

Second, and contrary to many startups, Buffer always prioritized profitability above growth and was able to turn monthly profits during most of its history. …

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Getting you ready for your very-early-stage fundraising round

This post was originally published in my newsletter Fundraisedd. Subscribe to receive it every Monday morning by clicking here.


Let’s talk about very-early-stage fundraising, namely your first round or what professional investors would call a pre-seed (or angel) round.

Launching your first round of financing is always exciting, but it is also kinda scary. Where to start, what to expect, how will I know I’m on the right track?

You will ask yourself all these questions and many more during the countless sleepless nights and overworked days of your first round. Enjoy!

First, let’s get one thing straight: there is no definite recipe to a fundraising round, no magic formula. The advice I’ll provide you with here is a summary of my experiences working with startups in Europe but they might not exactly apply to your situation and circumstances. …


Nicolas Carteron

Entrepreneur, CFO, advisor. I write about fundraising, startup finance, and business strategy here and in my newsletter: fundraisedd.substack.com

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