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- Findicate: July 2024 Updates
Dear Findicate angels,
Can you believe we're entering the second half of 2024? We've got so much to share about what has happened over the past two months and what’s coming next. It's all very exciting.👇🏼
Hot Deals
Teleskop
Teleskop is B2B/B2B2C wealth management solution that aims to bring clarity to finances in a user's lifetime and enables legacy implementation at the time of incapacitation or death. Teleskop’s solution includes asset aggregation across jurisdictions with real-time updates in value, a digital vault for non-financial assets, and AI-powered analytics with actionable insights. These address the pain points that families feel in managing family finances in preparation for and after a loved one’s passing. Globally this has led to trillions of unclaimed assets across banks, unclaimed insurance policies, “lost” properties.
Teleskop was founded by Chandrima Das and Martin Pickrodt, 2X founders with decades in financial services. This is their second wealth tech startup. They previously worked on Bento, which was acquired by Grab in 2019 and developed into Grab’s asset management business (subsequently closed). Given the founders’ history, we expect this to be a hot deal with limited allocation.
Why we like this deal:
Strong revenue quality. Teleskop is pursuing 3 high-quality revenue streams, including B2B partnerships with tiered annual contracts for employers seeking to augment their employee benefits, B2C subscriptions with premium add-ons, and AI-led data insights for additional fees.
Untapped global market . With US$540B in unclaimed assets globally, Teleskop is pursuing a large market with limited competitors. By starting with affluent markets with aging populations (Singapore, Australia, UK), they are well-positioned to scale globally (Hong Kong, Japan, UAE, Europe, US).
Strong founding team. Given the founders’ deep sector expertise and startup success with Bento, Chandrima and Martin have demonstrated that they can not only create a vision but that they can execute and scale. Having worked together at several organizations, they know how to collaborate and build a team together.
Round detail: Raising US$1.5M @ US$10M post-money valuation cap via SAFE note to invest in tech, ops, infra, leadership, and marketing. Former Bento investors will likely be joining the round.
Sign up for the Teleskop Deal Call at 8 pm SGT on July 18th.
Ready to invest? Make your commitment 👉🏽 here!
Deals Closing Soon
Five Beauty
Five Beauty is the Philippines' pioneering hybrid beauty brand, which exceeded sales targets by 177% in its first month. Five embeds skincare ingredients and promotes functionality (ready in five minutes!). The founding team has strong direct-to-consumer (D2C) experience with a seasoned founder who built a successful eyelash brand and a Filipino mega influencer with 10M+ followers. The company uses cutting-edge Virtual-Tryon (VTO) innovation and data analytics to enhance product development, representing an exciting investment opportunity alongside a top Filipino VC firm, Kaya Founders.
Why we like this deal:
Founder has profitably scaled a D2C brand to $1M GMV with zero outside capital. Veronica, the CEO & Co-Founder, built and scaled her first company, Luxx Lash, into a leading eyelash brand in the Philippines.
Founder has shown an ability to hustle and strong grit, securing a mega Filipino influencer with zero marketing spend. Gabbi Garcia is a top-tier actress, singer, host, and vlogger, who joined Five Beauty as a co-founder and celebrity endorser, resulting in a strong $30K monthly GMV within the first month of launch.
A proven success story for an influencer-backed brand in the Philippines. The Philippines has a strong influencer culture; half of Filipinos follow influencers on social media, the highest rate in the world (vs world average of 23%). Sunnies Studio, co-founded by a Filipino model, grew into an omnichannel brand with 127 offline stores and product categories spanning from eyeglasses, and cosmetics, to flask.
Low-risk, profitable business model, and proven exit strategy. Exit opportunities range from M&A from large consumer brands to IPO on the domestic market, similar to the success story of MamaEarth (an India-based beauty brand that went public) or Dr. Jart+ (a Korea-based skincare brand that was acquired by Estee Lauder).
D2C in the Philippines is still in the infancy stage, representing an undervalued investment opportunity. D2C trends swept across India and Indonesia in recent years. Funding for beauty startups in India peaked at $700M in 2021 and Indonesia at $100M in 2022. The D2C space in the Philippines is just emerging, supported by the rising middle class/income, rapid urbanization, and preference among younger generations to purchase home-grown brands. Success stories can be observed in Indonesia as several brands have raised funding, including Esqa, Rose All Day, Base, Somethinc, and Nama Beauty.
Round Detail: Raising $300K at $2M post-money valuation. Half of the round has been secured.
Deck | Recording| Deal Memo
Interested? Make your commitment 👉🏽 here!
Let’s Learn Together
Next in our Angel Investing 101 series: We have “Analyzing Pre-Seed/Seed Companies for Angel Investors” by Sean Greenhalgh, the Founder of a turnkey solution for angel investing Angelflow. Enhance your understanding of early-stage investments and learn practical strategies for evaluating pre-seed and seed companies. Invite a friend, and join us HERE
In this workshop, you'll learn about:
Framework for analyzing pre-seed/seed companies
Importance of the founder in early-stage deals
Best practices for evaluating founders
Product significance in pre-PMF stages
Assessing traction in early-stage startups
Key evaluation criteria and prioritization
Importance of financials and projections
Valuation assessment strategies
Post-investment focus and key metrics
Our Past Event
In May, we hosted a 1-hour "Angel Investing 101" workshop in collaboration with Jed Ng and Angel School. In case you missed it, here’s the takeaways:
👉Women founders represent only 2% of founders, with underrepresented groups at <1%. Angel School & hashtag#Findicate aim to increase diversity in the ecosystem.
👉Angel investing is now more accessible, but challenges remain in knowledge, support, and the long feedback/learning cycle (for e.g, 10 years to exit).
👉In Jed's opinion, Syndicates deploy ~$10Bn/yr, with angel investments ranging from ~$3-25K, syndicates ~$100K, and VCs ~$250K+ (Huge market alert!)
To get started in angel investing; it's important to:
1️⃣Define your investment thesis: Consider geography, company stage, and type.
2️⃣Understand your interests and find the right investment group.
We shared our key takeaways on LinkedIn: View more
Fresh off the Press
Aspire’s #FutureofFinance50
We are honored that Amrita Vir, Co-Founder of Findicate, is recognized in Aspire’s #FutureofFinance50 list for 2024 as one of Asia's top 50 finance leaders! This recognition highlights the significant strides women leaders are making in finance, aligning with Findicate's mission to empower and invest in women.
➡️ View more
Help Spread The Word
Refer angel investor friends
Having a bigger community enables us to write a bigger check size, provides more meaningful impact to women founders, and reduces legal fees for all investing angels. We welcome both men and women allies! Share Findicate Site and ask them sign up here: Findicate Sign Up Form
Refer deals
Think of us when you see a deal you want to invest in. Bringing in the community can help increase your investment size and make a more meaningful impact on the founder you care about. We can also discuss sharing carry if we end up investing.
About Findicate
At Findicate, we invest in women-led startups and let the traction speak for itself. We are a community that provides resources in early funding, collective know-how, and regional network to help founders build impactful businesses that empower and enable the lives of women.
Cheers,
Findicate Team (Nat, Amrita, Jean, Juliana)