09-16-2022, 07:43 AM
Seeking Advice
submitted by /u/InkMeUpTattoo
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Currently, I am seeking $5K-$20K in funding for my startup. Since my business is in the e-commerce/marketplace, this money will be used on the website as the foundation of the business. With that said I have been told by financial advisors no investors/angels will back a startup seeking such little funding amount. Is this true? It was recommended/suggested I ask for roughly $500K-$1MIL as this is what most startups ask. My main question is, how much is too much and how much is not enough to peak interest from investors? I have two app ideas, but even with that, the highest total amount of funding I can envision needing (especially for startup costs) is much less than $500K (maybe $250K at most).
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