Prepared for the future
Before EntrD sought funders, they were growing steadily. But when the AVG came along, they saw opportunities to grow faster than their cash flow allowed. So something had to be done. Eric: "Because of the high fines in the AVG, we expected many companies to be a lot more careful with privacy-sensitive information. That was of course an interesting development for us. With external funders, we wanted to grow significantly both in terms of personnel and marketing."
"Together with Flinc, we honed the business case and made sure there was a story that was clear to investors."
Eric Hoefman, co-founder EntrD
Initially, therefore, they sat down with Flinc. This sister of NOM helps companies become investor ready. Eric: "We 'just' started EntrD years ago. So there wasn't too much on paper, but we did realize that that had to happen to get investors. Together with Flinc, we sharpened the business case and made sure there was a story that was clear to investors. We also thought together about potential investors. That's how we ended up with NOM, in addition to informal investors."
As a quasi-governmental agency, NOM was not immediately at the top of the list. "We had the idea that this would make it very complicated and bureaucratic. And although we are certainly bound by some processes and decision-making sometimes takes a little longer as a result, I am incredibly positive about our cooperation."