Just hit a new level—got people willing to prepay for my app before it’s fully built/launched. Big milestone for me since I’ve built apps before that no one even wanted for free.
I’d rather bootstrap, but my freelancing gigs dried up, and I finally have something people are actually paying for. Looking to get investment to cover a month of living expenses so I can focus on finishing it, launching it, and getting traction.
Where should I be looking for investors or funding at this stage? Anyone been in a similar spot?
How much are you looking for? Sounds like a friends and family raise, but I know people who would take a look on a one-off basis granted you are willing to provide data / information on the opportunity.
You are in that slightly strange place where you have some early interest but don’t have a business yet, so there isn’t anything to really invest in.
If you do need to raise money, I would try and get a loan from friends and family with a view to returning the loan possibly with interest within the first year. You should aim to live like a monk during this time, so minimal cash-burn is key and keep the scope of your product as small as possible.
Once your app is built and people are actually paying, you have the beginnings of a business which therefore has value. This value can then be used to raise money via selling equity.
Just a word of caution - raising money always takes much much longer than you expect, so if you do decide to borrow money from friends and family ensure it gives you enough runway to either get to profitability or complete the next fund raise after the app is launched.
