Sasha Orloff, founder and CEO of Puzzle, has offered insights into investor expectations during fundraising. His experience comes from building companies that have collectively raised over $1 billion.
Orloff highlighted that investors value founders who grasp the financial reality of their business. He noted that issues such as disorganised data, misunderstood metrics, or delaying fundraising until cash reserves are low can reduce a founder's leverage, valuation, and potentially cost them a term sheet.
He also shared how his own data room not being ready nearly led to him losing a term sheet. Orloff emphasised that financial organisation and compliance are important factors that can influence investor confidence and startup valuations.