Raise Customer Interview #1

# Raise Customer Interview #1 ## Kotani Pay Kotani Pay is a technology stack that enables blockchain protocols, dapps, and blockchain fintech companies to integrate seamlessly to local payment channels providing them with a reliable on ramp and off ramp service to reach a wider customer base in Africa. Our technology is enabling companies that are pushing the boundaries of innovation in lending, savings, insurance, gig work and community incentive systems. ### Persona Type Which category do they fit into? - [x] 1. Raising Now - [ ] 2. Raising Soon (4-12 Months) - [ ] 3. Raising in the Future #### Notes Planning to do it soon, but no specific time just yet... ### Success Timeline How far have {Company Name} got in the success journey? #### Stage 1: Digital Transformation ✅ (Company Verification) 1. **Sign Up** ✅ 2. **Complete Company Profile** (Required Fields + Incorp. Docs) ✅ 3. **Build Company Cap Table** ✅ --- **Stages 1+2+3 = Verified** ✅ --- #### 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** ❌ --- ### Notes Kotani Pay has completed the Digital Transformation stage of the Raise success journey, but has not yet built out their deal room, built a scenario, and launched a deal. They are looking to actively fundraise, which gives means of motivation to complete Stage 2 (Fundraising). They have set up their deal room but haven't yet invited an investor... --- ## Feedback Gathering feedback up to the stage (inclusive) companies have reached ## Stage 1: Digital Transformation ✅ https://www.figma.com/proto/a9FkhiYKeR5MUvlVSx7x4x/User-Onboarding?node-id=12763%3A37&viewport=1049%2C617%2C0.15869727730751038&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: Found the site layout very simple and straightforward. Might have had an issue with the email verifcation **2. Did you find the email verification worked smoothly?** A: Might have had a problem with the email verification. Some team members didn't get the email in time, so Samantha stepped in and helped out. **3. Did you think we were asking relevant sign up questions?** A: To the best of my knowledge, I think the questions asked were relevant, as well as the documents asked for. **4. Any extra ideas on the Sign Up process and how it could have been improved?** A: At the moment, no ideas... #### Notes (Motivations + Pain Points) Type any notes here and add screenshots... --- ### 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: It was pretty straight forward, although the issue we had at the time was being able to put our LinkedIn profiles in (Members). **2. Did you find the Task List component useful?** A: Yes it was useful and straightforward **3. Were there any tasks you found hard to complete? (e.g Incorporation Docs)** A: Members... it was hard to add Linked In profiles and I had to do this via Samantha **4. Were there any parts of this process you struggled with?** A: **5. Does your company has subsidiaries?** A: No we don't have subsidiaries **6. Were there any extra documents you had to upload?** A: Yes, but had to upload them again in the Deal Room, which was kind of annoying (PAIN POINT) #### Notes (Motivations + Pain Points) Type any notes here and add screenshots... --- ### 3. Build Company Cap Table ✅ How did the company get on during this part of the process? - Initially I didn't know what a Cap Table was, but once we figured it out it was pretty straight forward. - No. of Shareclasses: 1 (Co-Founders shares) - No. of Shareholders: 6 - We want to come up with another class so we can onboard our first board of directors - Currently ironing out details with a lawyer #### Questions **1. What were your initial thoughts of the Company Cap Table?** A: **2. How did you find the process of creating shareclasses?** A: More a process of repeating details, so it was quite straight forward **3. How did you find the process of adding shareholders?** A: At the start it wasn't because someone had created a profile first, so when updating the share distribution I had to play around with it but figured it out myself **4. Has your company currently got Employee Stock Options?** A: At the moment it's not something we've thought about **5. Have you had to create any vesting schedules?** A: On the platform, not yet **6. Were there any parts of the Cap Table build?** A: #### Notes (Motivations + Pain Points) How long did it take to get through this process? - I think it was about 3 or 4 days - The longest thing was discovering relevant documents to upload to the platform - The only issue was where we had saved the docs --- ## Stage 2: Fundraising 🚀 ❌ ### 4. Build Scenario(s) ❌ How did the company get on during this part of the process? - We haven't gone through process of building a scenario just yet - Still waiting for feedback on the grant they've just received so they're waiting for that #### Questions **1. Have you tried building a scenario yet?** A: **2. If YES, how was it? / If NO, why not?** A: **3. If YES, did you find the preview tool useful?** A: #### Notes (Motivations + Pain Points) Type any notes here and add screenshots... --- ### 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 - [ ] Pre-Money Valuation - [ ] Key Driver Metrics - [ ] Use of Proceeds - [ ] Burn Rate ... - Cap Table - [ ] On - [ ] Off ... - [ ] Funding History - [ ] Milestones + Highlights ... - [x] Documents ... #### Questions **1. Have you started building your Deal Room?** A: Yes we've started but haven't got around to financials and milestones. We've only uploaded the documents (pretty straight forward) **2. If YES, how has your experience been so far?** A: **3. Are there any components you've found particularly useful/unuseful?** A: I think everything that's there are useful... can't think of any additional items right now **4. In terms of the layout/navigation, how did you find UX?** A: I think its OK, easy to navigate from one part to another #### Notes (Motivations + Pain Points) Type any notes here and add screenshots... --- ## Additonal Questions **1. On a scale of 1-10, how useful have you found Raise?** - We haven't got around to raising anything just yet... - Shown us the need to have a Deal Room - We have found the digitisation of the company (Cap Table) very useful **2. If Raise were to dissapear, how would you feel?** - [ ] Not Bothered - [x] Bothered (Inconvenience) We are planning to raise soon and the team has become aware of how important a Deal Room is and we wouldn't want to lose that part of the process... --- ## Key Takeaways ### Digital Transformation #### 1. Educational Info on Cap Table > Initially I didn’t know what a Cap Table was, but once we figured it out it was pretty straight forward. #### 2. Documents Needed Uploading Multiple Times > I had to upload them again in the Deal Room, which was kind of annoying ### Other #### 4. Dark Mode Desired