I’ve noticed a new trend in the CEE ecosystem: first-time founders outsourcing one of their most critical responsibilities to so-called fundraising “advisors” or “consultants”. In one community, I saw founders discussing paying 3–5% of equity or €10,000–30,000 upfront to consultants to raise capital on their behalf. What alarmed me most in this situation was that it wasn’t treated as a mistake by other founders. It was being normalized.
What follows is a personal perspective. I don’t claim to have the final word on the topic, but I do believe it’s an important one. It reflects what I’ve observed as an active VC in the region and what I consistently hear from colleagues across the industry.
Why CEE founders are outsourcing fundraising
The startup ecosystem in Central and Eastern Europe is still in its early stages of development. One of the core challenges is a lack of transparent, shared information, especially regarding fundraising. In Western Europe and the US, there are stronger networks and peer communities that help founders learn from one another and gain a deeper understanding of the process. There, the core principle is clear — fundraising is the founder’s job.
But in CEE, it’s not uncommon to meet technical founders who want to outsource that responsibility. Some turn to consultants or fundraising advisors, thinking, “They know the investors, they’ll pitch for me.”
I understand the temptation. Fundraising can feel overwhelming, especially when you’ve never done it before. Also, early teams often have limited networks and few investor connections. But fundraising consultants are not the solution — and the results are almost always disappointing.
Success stories of startups backed by individual consultants or agencies are rare. In fact, I can’t name a single unicorn that used a consultant to raise their first check and went on to build something meaningful. Many of these consultants just offer deck design and messaging services. But at pre-seed and seed, what matters is your understanding of the market, traction, and product, not a tested deck structure.
What VCs see when a consultant reaches out
Outsourcing your fundraising is not a shortcut, it’s a signal to VCs, the wrong one. The overwhelming majority of investors, including me, avoid founders who use fundraising agents. Because what it really says is that you can’t build relationships, you’re not willing to learn, and you’re already making questionable capital allocation decisions.
Raising money is not something you outsource. It’s something you do yourself. You pitch. You get rejected. You make your story better. You learn what resonates. That’s how you get better at fundraising and talking to investors.
What to do instead of paying fundraising consultants
If you feel lost while raising your first round, that’s normal. But there are far better ways forward than hiring a consultant.
First, join acceleration programs. They are designed to guide early-stage founders through the fundraising process, step by step.
Second, there’s a wealth of open knowledge available today on pitching and fundraising:
Third, instead of hiring consultants, look for angel investors. The best-case scenario is finding one who also becomes a mentor — not because they charge for advice, but because your success is now directly aligned with theirs. To find a great angel, look at their previous investments. If they’ve backed successful teams and are willing to support you, that’s a far stronger signal than any deck design service.
Fourth, if angels are hard to find, start with mentors. It doesn’t need to be formal. You can ask just anyone you admire — from founders and operators to VCs. If a founder who knows how to pitch their vision with clarity and conviction reached out to me and asked for help, I’d consider mentoring them. Some mentors will help for free. Others might ask for 0.1–1% of the company. Either way, it’s a worthwhile exchange, especially if they’ve been through the stage you’re at now.
Last but not least, reach out to experienced founders in your country or vertical. Often, the best mentors are just one or two rounds ahead of you. They still remember the grind, and many are glad to help — especially if you share a local or cultural connection. I often try to support founders from Ukraine for that reason: shared experience creates trust and motivation to help. You can also message YC alums or respected operators on LinkedIn. Many will reply because they’ve been in your shoes.
There are better ways.
More CEE founders are turning to fundraising “consultants” to raise capital on their behalf — a move that may seem efficient, but ultimately signals weak judgment, hurts investor trust, and rarely delivers results. There are better ways. Look for angel investors who will provide guidance and advice. Apply to acceleration programs and ask for mentorship from experienced operators. But most importantly: Pitch your own story. No one can believe in your company more than you. And that’s what we as early-stage investors are really investing in.
