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# System prepended metadata

title: 'Raise Customer Interview #3'

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# Raise Customer Interview #3

## Kweza Technologies

Kweza brings the power of collective buying to Spaza shops, ensuring they can source stock conveniently, at the best prices and have it delivered directly to store.

### Persona Type

Which category do they fit into?

- [ ] 1. Raising Now
- [x] 2. Raising Soon (4-12 Months)
- [ ] 3. Raising in the Future

### Success Timeline

Have signed up and used the Build Cap table

#### Stage 1: Digital Transformation ✅

(Company Verification)

1. **Sign Up**
2. **Complete Company Profile** (Required Fields + Incorp. Docs)
3. **Build Company Cap Table**

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**Stages 1+2+3 = Verified** ✅

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#### Stage 2: Fundraising 🚀 

Once verified, companies begin the second stage of their journey to success...

4. **Build a Scenario** (+Attach to Deal... first scenario created automatically attaches?) 
5. **Build Your Deal Room** 
6. **Request Company Valuation Report** (Optional) 
7. **Invite Investors** 
8. **Launch Deal Room** 

#### Stage 3: Managing Deal Flow 🤝💸 

9. **Analysing Investor Insights** 
10. **Closing Deal & Gathering Commitments**

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## Feedback

Gathering feedback up to the stage (inclusive) companies have reached

## Stage 1: Digital Transformation ✅

[Sign-Up Prototype](https://www.figma.com/proto/a9FkhiYKeR5MUvlVSx7x4x/User-Onboarding?node-id=12763%3A37&viewport=998%2C630%2C0.16118338704109192&scaling=min-zoom)

### 1. Sign Up

How did the company get on during this part of the process?

#### Questions

**1. What were your initial thoughts of the sign up process?**

A: I actually kicked off the process sometime last year, so it actually took a while to get to this stage (I even forgot about signing up!). 

I typed out all the basic info, it seemed pretty straightforward. I also really liked the valuation experience.

When signing up though and get onboarded, the sign up link didn't work and I had to go back and forth with the onboarding team to help me get set up! I also had a few questions around data protection, as I wasn't sure how that worked! Maybe that information would have been good to get upfront so I felt more secure using the platform.

There was also quite a bit of back and forth building out our cap table... 

I found the checklist item really useful, it kept me really on track of what I needed to do and where I needed to be

For someone whos not clued up on Cap Tables and finance, the platform could involve and lot of new learning points 

**3. Did you think we were asking relevant sign up questions?**

A: Yeah they seemed relevant, it made me ask a few questions of how they were relevant

**4. Any extra ideas on the Sign Up process and how it could have been improved?**

A: It felt a little bit long and disjointed, there were quite a few type forms here and there and then filling out some stuff on the platform (this is with regards to free valuations).

Throughout the process though there was enough information to support the process and what I needed to do and how to do it

#### Notes (Motivations + Pain Points) 

Type here...

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### 2. Company Profile

How did the company get on during this part of the process?

#### Questions

**1. What were your initial thoughts of the Company Dashboard (Profile)?**

A: So obviously that was fairly easy, due to the task list. My only hesitation was providing sensitive company information upfront and how my data was going to be handled and used! 

It would have been great to have seen a disclaimer for data protection.

I know you're supporting companies across the continent, and so I wasn't sure which documents were relevant due to where I was e.g Memorandum and Bylaws (CAC/CR-12)

**2. Did you find the Task List component useful?**

A: YES!

#### Notes (Motivations + Pain Points)

Type any notes here and add screenshots...

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### 3. Build Company Cap Table

How did the company get on during this part of the process?

#### Questions

**1. What were your initial thoughts of the Company Cap Table?**

A: Weren't quite sure what to do and how to do it...

I actually attempted to fill it out and got 3/4 of the way through

**2. What documents did you have to provide? How did you find this process?**

A: So to be honest I realised a lot of this requires specialised knowledge... and I tried to build my own financial model but got to a point where I just wanted to pay someone to do it. This would definitely be a valuable added feature

**3. What did you find confusing about the Cap Table?**

A: 

**4. Would you pay for a premium onboarding?**

A: YES

**5. Can you remember where feelings of frustration arose?**

A:

**6. How much prior knowledge of Cap Tables did you have before?**

A: So I think typically is what most people do is use a plug and play pre-built Excel template... which are also kind of difficult!

I sent the team an excel spreadsheet that I made myself...

I had a bit of prior knowledge just because I had to read as a founder (haha), but I had no idea about the calculations and maths behind it all - it's hard and I was super glad to have that information available and someone could also do it for me.

**8. Which parts did you find easy/hard to grasp comprehend?**

A: Yeah so i think it was defining the different types of shareholders themselves... and which shares they hold! For example we have an ESOP and needed to figure out what TYPE of share class that was...

It was more about grasping the content and information


#### Notes (Motivations + Pain Points)

Type any notes here and add screenshots...

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## Stage 2: Fundraising 🚀

### 4. Build Scenario(s)

How did the company get on during this part of the process?

**1. Have you tried building a scenario yet?**

A: So I was playing around with it before the meeting, but again I think the one place I got stuck was the Discount on the convertibles...

The question I had was "what value do I put?"

Example scenarios that are commonly used by founders, or benchmarks! 

#### Notes (Motivations + Pain Points)

Type any notes here and add screenshots...

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### 5. Build Your Deal Room

How did the company get on during this part of the process?

Which components did they use?

- [ ] Company Overview
- [ ] Team

...

- [ ] Financial Performance
- [x] Pre-Money Valuation
- [ ] Key Driver Metrics
- [ ] Use of Proceeds
- [ ] Burn Rate

...

- Cap Table 
- [ ] On
- [ ] Off

...

- [ ] Funding History
- [ ] Milestones + Highlights

...

- [ ] Documents 

...


#### Questions

**1. How was the Pre-Money Valuation?**

A: I had a friend recommend I used your platform, and also investors who wanted a valuation done. I thought a third party platform would have been more credible for this.

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## Additonal Questions 

**1. On a scale of 1-10, how useful have you found Raise?**

A: 7/10

I haven't gotten my report yet, but it gives me peace of mind to know I can present stuff to investors as my valuation is done by a credible third party.


**2. If Raise were to dissapear, how would you feel?**

- [ ] Not Bothered
- [x] Bothered (Inconvenience)

A: I would be sad because its been so great to have help to get through this experience. Its a lot to take in as a first time founder, and its great to know someones solving this problem. You don't know you have the problem until you have to solve it! 

I feel like you'd provide so much value by targetting companies that are at the very first stages of building their company. It would save so much time and repetition.

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## Key Takeaways

### Digital Transformation

#### 1. Sign Up Link Didn't Work

> the sign up link didn’t work and I had to go back and forth with the onboarding team to help me get set up!

#### 2. Worry about Data Protection

> I had a few questions around data protection, as I wasn’t sure how that worked! Maybe that information would have been good to get upfront so I felt more secure using the platform.

#### 3. Checklist Item Was Useful

> I found the checklist item really useful, it kept me really on track of what I needed to do and where I needed to be [...] the company profile section was fairly easy, due to the task list.

#### 4. Naming Documents Correctly (Location)

> I know you're supporting companies across the continent, and so I wasn't sure which documents were relevant due to where I was e.g Memorandum and Bylaws (CAC/CR-12)

#### 5. Could have used some info on Cap Tables

> For someone whos not clued up on Cap Tables and finance, the platform could involve and lot of new learning points

#### 6. Cap Table Build could be Premium feature

> So to be honest I realised a lot of this requires specialised knowledge… and I tried to build my own financial model but got to a point where I just wanted to pay someone to do it. This would definitely be a valuable added feature...

> I had no idea about the calculations and maths behind it all - it’s hard and I was super glad to have that information available and someone could also do it for me.


### Fundraising 

#### 7. Model Scenarios, Fundraising Templates and Benchmarks

> I think the one place I got stuck was the Discount on the convertibles… The question I had was “what value do I put?”... Example scenarios that are commonly used by founders, or benchmarks would be really useful.

### Other

#### 8. Credibility as a Platform for Valuations

> It gives me peace of mind to know I can present stuff to investors as my valuation is done by a credible third party.

#### 9. Target Very Early Stage Companies

> I feel like you’d provide so much value by targetting companies that are at the very first stages of building their company. It would save so much time and repetition.