Fundid

Founded by Stefanie Sample in 2021, Fundid aims to support women-owned businesses in accessing capital and developing financial knowledge. The fintech startup offers a marketplace for grants microloans and a business credit card that doesnt require a personal guarantee or credit score. Fundid also educates business owners through content on its website, covering topics like grant proposals and loan financing. Using this 12-slide pitch deck, Fundid raised a $3.25M seed round in 2022 led by fintech investor Nevcaut Ventures, joined by The Artemis Fund and Builders and Backers. Fundid operated by having a debt facility partner underwrite its lending operations, but when the Federal Reserve raised interest rates 11 times between spring of 2022 and the end of 2023, the cost of capital became too high for Fundid to earn a profit. The company raised another $2M in 2023, but ultimately the founder made the tough decision to rescind the raise, give the money back, and lay off the team of five.