TermSheet is a Chennai based startup, that aims to challenge the status quo of the current startup funding system.
A platform that brings together the people who need capital with the ones who can provide it. With the advent of such amazing ventures the nightmare of paperwork becomes a palpable daydream. And what else does someone with great ideas need?
You hand them your details, be as cool as a CEO can get, and just let lead investors line up for you. Let me explain the working procedure in the pictures to follow.
If you are brilliant at what you do and need funding, you can visit them here.
It Starts with signing up on the platform and filling in the required details. After preliminary screening, a phone call is set up with the lead investor. If the startup fills in the shoes, they are required to share detailed information about their product, team, financials, legal, etc. This initial process takes upto 3 days to complete.
A lead investor can anytime demand a personal call or skype meeting with the concerned startup. There is only one lead investor. He can commit anything from 25 Lakhs upto 3 crores. It thoroughly depends on the size of the round.
As and when the lead investor becomes interested in you and commits to you, he immediately needs to pay 5 Lakhs as security deposit. This is also the case with other investors who are interested in funding. And once the startup reaches it's round size, TermSheet will get the required documents signed, complete filings and allot the shares.
And so when the funding has taken place, the paper work will be their responsibility. TermSheet works hand in hand with consultants - lawyers, CAs and company secretaries to get the deals completed.They do charge the investors some percentage of the money they help them raise. Sooner, angel investors will also be charged after the deal is sealed. So, think no more. Have brilliant ideas and need money? This is where you ought to be. Good Luck, young entrepreneurs!