My Truth That I Have Never Shared About Fundraising As A Woman

Dear Readers,

As a female founder, I know firsthand the challenges of raising funds for a startup. Over the years, I have heard more rejections than yeses, and it's not uncommon to hear comments like "what you're building is niche" or "have you thought about talking to investors' wives and daughters?" Many times, I've been asked to speak to an investor's wife to encourage her to go back to work. I have heard that this is not a real problem and that men don't face these challenges. It's been tough, but I'm here to share my experience and offer some advice.

The data shows that women face significant obstacles when it comes to accessing funding. In 2020, women-led startups received just 2.3% of venture capital funding globally. In the Middle East, the number is even lower, with just 1% of funding going to female-led startups. These statistics are alarming and highlight the need for change.

So, how can we tackle this issue? Firstly, we need to get energized by the rejections and learn something from each call. Even if an investor says no, ask for a lesson, a contact, or a referral. Use each conversation as an opportunity to improve and refine your pitch.

Secondly, make sure your deck is perfect and can answer each question they ask. There should be no loopholes in your argument. Investors want to know that you have a clear plan and can execute it effectively.

Thirdly, consider asking investors to join an ally for a change program that you have created. This could involve supporting and investing in female-led startups or advocating for change within their own organizations.

It's important to remember that fundraising as a female founder can be tough, but we can't give up. We need to keep pushing and advocating for change. Let's work together to create a more equitable and inclusive startup ecosystem.

Sincerely,

Wafa