Fail, learn, go again: lessons from the co-founder behind a £20 million fundraise – Sadra Hosseini, Ryft
Founders and Funders, with Susannah StreeterShow Notes
This week's guest Sadra Hosseini has built three businesses. His latest, Ryft, has just raised £20 million in a Series B round. The company describes it as the largest UK payments Series B this year. Gresham House Ventures led the round, with existing investors Pembroke VCT and Ingenii Capital also taking part. Before that round, Susannah interviewed Sadra about his entrepreneurial experience, including the parts that didn't go to plan. He tells the story of selling his previous venture and pivoting his team to build Ryft. How has the funding process been for him? When did he realise the need to pivot? How important have the VCT and S/EIS schemes been for the business? How is the company positioning itself in today's AI world? Watch the conversation… Important: Founders & Funders is a series of discussions about building, funding and growing businesses. The views expressed may not reflect those of Wealth Club. The podcast is for general information only and does not constitute investment advice or a personal recommendation.
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This week’s episode features Lucy Goff, founder and CEO of international health-tech brand LYMA. After the birth of her daughter, Lucy suffered life-threatening complications and spent six weeks in intensive care. Her search for solutions to aid her recovery inspired LYMA, which started with supplements and expanded into laser technology. Today, LYMA has grown into an international business, with the US its largest market, and a high-profile following that includes celebrities such as Gwyneth Paltrow, Kim Kardashian and Victoria Beckham. What does it take to turn a personal health crisis into an international business? What are the barriers facing UK businesses trying to commercialise scientific innovation? How do you build a business when 50 investors say no to the initial idea? Why did Pembroke VCT decided to back LYMA in 2018 – turning a £2 million investment into the VCT's largest holding?
As investors, how do you go about spotting a good company? What factor matters more than any other? Can the UK compete in the AI race? How could startups scale into truly global companies? What role does the SEIS play? Are proposed tax changes driving entrepreneurs away? Susannah discusses this and much more with Stephen Page, SFC Capital’s Founder and CEO, and Ian Connatty, British Business Bank’s Managing Partner. Between them, they have backed thousands of young businesses. Few people have a better view of the challenges and opportunities facing UK entrepreneurs. Important: Founders & Funders is a series of discussions about building, funding and growing businesses. The views expressed may not reflect those of Wealth Club. The podcast is for general information only and does not constitute investment advice or a personal recommendation.