Why Raising Too Late Kills Startups? In this episode of The Recursive Roundtable, we unpack one of the most misunderstood topics for founders: fundraising strategy — not just the “how,” but the when, the why, and the who.
GUESTS:
Iliya Valchanov, Co-founder & CEO @ Juma
Konstantin Bezuhanov, Co-founder & CEO @ Evrotrust
Stoil Vasilev, Co-founder & CEO @ Paypercut
They share:
💡 why starting your fundraising too late is the #1 mistake seed-stage companies make
💡 how to structure your investor outreach like a sales funnel
💡 what separates “feature AI” from true AI-powered competitive advantage
💡 how to choose the right investor — not just the one with the biggest check
💡 terms, valuation, control and the long game of capital
You’ll hear real stories about:
👉 outreach strategy and KPIs (77 conversations ≈ 1 deal)
👉 managing rejection and staying confident
👉 the importance of building relationships long before you need capital
👉 why a bad partner can be worse than no partner
👉 practical negotiation lessons and term-sheet wisdom
Whether you’re gearing up for your first round or planning Series A+, this episode gives you the mental model and playbook you need to approach fundraising with clarity and confidence.
