As venture funding continues to slow, founders are scrambling to extend their runways, regardless of how much cash they already have in the bank. But the startups that need the cash infusions the most are running into the most trouble.
Last week, I wrote about the current state of bridge financing after multiple pre-seed investors started getting emails from companies \\u2014 some in a state of desperation \\u2014 to get more time in the form of cash. To the investors, it seemed like everyone was struggling. But while founders are reporting that it is more difficult to raise across the board, it seems significantly harder for some than others.
Wa\\u2019il Ashshowwaf, co-founder and CEO of Reyets, a social justice app that helps people discover what their rights are in different situations, thinks it will be more difficult for founders like himself who are targeting more impact-driven narratives. He told TechCrunch that his company had multiple verbal commitments for bridge financing this year \\u2014 before a proper round next year \\u2014 but all investors pulled out just weeks before checks were supposed to be written.
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Last week, I wrote about the current state of bridge financing after multiple pre-seed investors started getting emails from companies \\u2014 some in a state of desperation \\u2014 to get more time in the form of cash. To the investors, it seemed like everyone was struggling. But while founders are reporting that it is more difficult to raise across the board, it seems significantly harder for some than others.
Wa\\u2019il Ashshowwaf, co-founder and CEO of Reyets, a social justice app that helps people discover what their rights are in different situations, thinks it will be more difficult for founders like himself who are targeting more impact-driven narratives. He told TechCrunch that his company had multiple verbal commitments for bridge financing this year \\u2014 before a proper round next year \\u2014 but all investors pulled out just weeks before checks were supposed to be written.
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Last week, I wrote about the current state of bridge financing after multiple pre-seed investors started getting emails from companies \\u2014 some in a state of desperation \\u2014 to get more time in the form of cash. To the investors, it seemed like everyone was struggling. But while founders are reporting that it is more difficult to raise across the board, it seems significantly harder for some than others.
Wa\\u2019il Ashshowwaf, co-founder and CEO of Reyets, a social justice app that helps people discover what their rights are in different situations, thinks it will be more difficult for founders like himself who are targeting more impact-driven narratives. He told TechCrunch that his company had multiple verbal commitments for bridge financing this year \\u2014 before a proper round next year \\u2014 but all investors pulled out just weeks before checks were supposed to be written.
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