I’ve been running my company for 2.5 years now, we have a GMV $350k, MRR $31K, CAC $0.4, etc. but we have been trying to raise a seed round for $500k for over a year now and it’s getting tiring. I am almost at the point of just giving up fundraising since we sell an average of $25k a month.
It’s almost like the world has moved past funding e-commerce and also the fact that we are in Africa may not help either. This market we are bringing online is still 97% brick and mortar whereas the internet penetration and preference for e-commerce is growing but even with all this, we have not been able to get any investor interest.
I am torn between giving up the fundraising and just facing the business. I’d like to know if anyone has a similar experience or advice.