We were looking for sparring partners, with a strong capacity to deliver their financial expertise in a very, very, short period of time
Béatrice & Olivier — Founders of Hôtel Monet
Tomojo
Petfood, 2021
Tomojo makes insect-based dog and cat food, which is more environmentally friendly and just as high in protein as conventional animal-based food.
The founders, Madeleine and Paola, called on us in 2021 to support them in their Series A fundraising
From the very first exchange, beyond our strong conviction for the project and the vision of the founders, we started… to laugh. This immediately made us want to work together.
No matter what the difficulties, we never stopped enjoying working together !
Number of FTEs
6
Time of collaboration
8 months
Equity Raising
Series A
Tomojo’s words
Why did you choose Further ?
This was our first fundraising and numbers are not really our strength. We were also afraid that it would be very time-consuming, to the point where we wouldn’t have any time to devote to Tomojo.
Further’s team was advised by our lawyer and we were immediately hooked, we could see that they knew start-ups and their problems well.
How did your capital operations go ?
The first offer we received was much lower than expected. Further’s team was able to defend our interests and find the right balance, to agree on a deal that was attractive to both parties.
In the early stages, we were very involved in the fundraising process, then there was a shift when we found the lead investor : Further team then took over the discussions and let us focus on the operational side of our project and our objectives.
What have you gained by teaming up with Further ?
Working with Further is a support beyond the fundraising, which made us grow as entrepreneurs. While we were going through this challenge, they guided us, trained us and coached us. For example, to prepare ourselves, they asked us to pitch our project and asked us questions, as real investors would have done.
Raising money is very exciting but in reality it’s a bad time. Further’s team is also there to temporise, keep a cool head and defuse certain situations that are beyond our control.
Do you have a word for other entrepreneurs who are wondering if they need to be accompanied ?
Imagine the time you think it will take and multiply it by three! The human mind is quite optimistic, the entrepreneur’s mind even more so, that’s why coaching is necessary.
What next ?
This fundraising will allow us to develop our project over the next two years… and then we’ll have to do a second one!
We are not really going to let them go. There are so many operations in the life of our company that require people like Further, we’ll always need them.