Process for Startups
All companies that apply funding through our network go through the same process. We support all high growth companies all the way from submitting the application to successful investment. Start today and get your company visible for our 650+ angel investors!
Fill a company profile at FiBAN Deal Room in Dealum (formerly Startup Includer) to get your company into our database and visible to our 650+ investor members. As you fill in the company profile, make sure to fill in all fields, all financials, and upload a pitch deck. In Dealum, investors can search for companies according to their own field of expertise or according to the company sector or location.
All profiles submitted are pre-screened by the deal flow manager, and if something is missing, more details might be asked. All submitted company profiles should get a notification within two weeks from the submission. If not, please be in contact with the deal flow manager.
Notice that only companies who have made a Dealum profile are considered in our process. The information that is shared with FiBAN will not be shared with a third party. FiBAN may use aggregated data for its own research purposes, but will never breach confidentiality and share information regarding any company which is identifiable.
Once you have submitted your application, keep an eye on your mailbox: all submitted profiles will get an acceptance message within 2 weeks after submission.
All relevant and complete company profiles are screened by a FiBAN investor screening board consisting of 6-8 FiBAN investor members. The screening board selects the companies to pitch at the FiBAN Pitch Finland event arranged approx. 8 times per year.
There are two screening board meetings prior to each Pitch Finland event, and altogether 8-15 companies are chosen to pitch for each pitching event. All companies that are screened receive compiled feedback from the investor screening board. The investor feedback is sent through Dealum.
The deadline for submission is at noon one week prior to screening. Screening dates can be checked from the FiBAN event calendar. If your company profile is not filled in completely, we won’t screen it. We will always inform you through Dealum if we’d like you to update any information.
In the application, a startup needs to submit: 1. an executive summary (the list of questions will be provided in the application form), 2. investor pitch deck that will be downloaded to the platform and 3. a view of how much money the company is raising and in what value.
Not all companies screened are invited to pitch. If your company is not invited to pitch, please update your profile in accordance with the feedback you get, and we can re-screen your company again at a later stage. In this case, the founder should inform FiBAN. Typically the re-screening can be done after a couple of months.
Please also note:
- A median investment size for angel investors is 200K€ and a typical company valuation is 1-2M€. For screening we typically do not take cases with 5M€ or more in valuation.
- FiBAN gets on average 600+ new applications a year. For companies not located at Finland we ask for investor contacts or a lead investor to proceed in our process. Typically business angels invest in companies near them unless it is a syndicate where they join. As an exception, in most of the cases we do accept companies based in the Nordics and Baltics.
Make sure to apply to our deal flow one week before the screening meeting. You can see the screening dates below.
3. FiBAN Pitch Finland
FiBAN Pitch Finland is the leading regularly arranged pitch event in Nordics presenting potential high-growth startups to FiBAN angel investors. The event is targeted at FiBAN private investor members and partner members and is organized in cooperation with our partners. The event language is English.
At the event, each startup will have 3 minutes to pitch with a presentation followed by a short Q&A. Before every pitching event, there is a short rehearsal session for the entrepreneurs.
After the event, FiBAN helps in collecting the names of interested angel investors. FiBAN members can indicate their interest in three ways: 1) by letting the entrepreneur know directly, 2) by informing the FiBAN deal flow manager, or 3) by indicating interest in FiBAN deal flow tool, Dealum.
Conversations between investors and founders will be facilitated by the FiBAN deal flow manager. After pitching at FiBAN Pitch Finland, a company will have a 1-year quarantine before it can apply again.
FiBAN Pitch Finland program example
14:30 Pitch rehearsal for startups
15:00 Business Angel Training
16:00 Doors open for the event
16:30 Event opening & latest FiBAN News
17:00 Pitch Presentations (3 min + Q&A)
18:00 Networking and Cocktails
FiBAN Pitch Finland Online schedule:
14:00 Pitch rehearsal for startups
16:00 Event opening & latest FiBAN News
16:30 Pitch Presentations (3 min + Q&A)
17:30 Online meetings with startups
4. Investment & Syndication
As FiBAN is a network of Finnish Business Angels and an NGO, FiBAN does not invest in any startups – our private investor members do. The most common format of startup investing is through a syndicate.
A syndicate refers to a co-investment by several investors, represented by one person, a so-called lead investor. Syndicated investments make it easier for investors to manage risk and acquire a more diversified portfolio. Syndicates are also an excellent way for startups aiming to acquire larger investments.
If a startup receives interest from more than three FiBAN angel investors, FiBAN deal flow manager will help with the facilitating of the first group meeting between the investors and entrepreneur, to support the potential creation of a syndicate. All companies that have pitched are informed about the number of interested angel investors.
Entrepreneurs should keep in mind that their activity is key in closing an investment round. One of the key elements in the investor discussions is finding a lead investor that will represent the investors in the syndicate and help the entrepreneur close the round.
FiBAN has legal document templates for Term Sheet and Share Holder Agreements available for FiBAN members and syndicates.