Blog Post
E43. Heinin Zhang, YHangry - KPI-based Fundraising
#cofounders #consumer #pandemic #pivot #foodandbeverage
£1.1m raised
Heinin Zhang and her co-founder Siddhi Mittal recognised that people no longer entertain at home. In Heinin’s words “Millenials, as ‘Generation Convenience’, have killed the dinner party!” They established YHangry as a private chef service at an affordable price, offering an in-home complete service to take the hard work out of entertaining.
Just as the business was taking off, the Pandemic hit. It would have been easy to admit defeat, how do you maintain a business with social gathering at the heart during lockdown? But Heinin and Siddhi pivoted quickly, recognising that eating and cooking were two remaining pleasures still possible during lockdown. They began virtual cooking classes and batch cooked delivery meals, cultivating their network of chefs while building their brand in the most unlikely time.
As lockdown eased, the business began growing 40-70% month-on-month. Demand exploded and it became clear that the business needed to scale quickly. Heinin and Siddhi put together a very detailed plan to execute their fundraising goals, and it paid off with a raise of over £1M.
In this episode you’ll discover…
- How to organise your fundraising like a military operation
- Strategies to find relevant investors rather than wasting time chasing all possibilities
- Using KPIs to manage your investor CRM
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