Fiat Ventures is an emerging VC focused on supporting and growing the next generation of market-leading, early-stage companies in the Fintech space. A team of seasoned marketing professionals who have scaled businesses, grown teams, and driven outsized returns. Since founding in 2018, they have partnered with more than 85 brands and helped generate $1.6B+ in new revenue.
At what point does a firm like yours become genuinely useful?
We want to be involved at the very inception, if not before incorporation. Fiat invests in pre-seed and seed companies, which means we build relationships with founders before the raise even begins.
What do founders typically misunderstand about what your firm does?
Many founders don't realize that alongside our venture fund, we operate a full-stack growth marketing consultancy — one that's directly focused on supporting founders in their sales efforts.
What is the most common misconception founders have?
Founders often focus on product too early, rather than prioritizing customer discovery. Customers ultimately dictate the direction of the product based on what they're willing to pay for — so the most important thing to do early on is front-load your customer discovery calls.
Describe a founder who was genuinely stuck.
A lot of these cases have to do with early traction, especially with enterprise clients. Because sales cycles are so long, we leverage our network of C-Suite and VP-level operators to get a foot in the door for our portfolio companies — helping founders break through where they'd otherwise be waiting months just to get a meeting.
What signals tell you a founder needs help?
Overfocusing on the product demo with no customers to show for it. The perfect product in your mind is almost never the product the customer is willing to pay for. Focus on solving a problem rather than building something perfect.
What should founders prepare before reaching out?
No pitch is a magic bullet. Spend time generating revenue or building the relationship before you ask for money.
What is something a firm like yours simply cannot fix?
Market size. Some businesses are built to be venture-backed, some are built to be profitable enterprises. If you're not building for hyperscale growth with several rounds of funding, you're better off not raising capital and diluting yourself.
What separates founders who move through this stage well from those who stall?
Asking for pitch help. The pitch has little to do with our willingness to invest. Chances are, we've seen similar companies and we're going to evaluate your business in comparison to them. Nothing said in a pitch meeting will change that analysis — so focus on customers, and we will notice.