An exclusive Tech Tribune Q&A with Stefanie Sample (founder and CEO) of Fundid, which was honored in our:
Tell us the origin story of Fundid – what problem were you trying to solve and why?
I’ve been a small business owner for 13 years and have seen firsthand the challenges of small business funding and cash flow management. Over the past years, I’ve been particularly interested in the challenges facing women business owners, as there are additional barriers for them to access financial solutions for their businesses. Fundid was the result of the lack of options for the smallest businesses and the desire to find a simple solution for these businesses.
What was the biggest hurdle you encountered in your journey?
We’re encountering hurdles every day so it’s hard to decide on the biggest ones! One that comes to mind is having connections into venture networks. The venture world can be a bit behind the times and still wants founders to find ways to get direct introductions, which creates a lot of barriers for people that don’t come from that realm. But it’s also been a fun hurdle because in the process of building a network of investors, I have met some really amazing people along the way. Also, I was lucky to be raising during COVID because where I lived no longer mattered.
What does the future hold for Fundid?
Fundid is launching a Business-Building card to our 11,000+ waitlist in the fall of 2022 that will serve as an onramp for businesses to get better access to capital solutions for their businesses. After that, we plan on creating better solutions to serve these businesses by simplifying business finance and access to capital.
What are your thoughts on the local tech startup scene in Montana?
This is tricky because while all my entrepreneur friends in Montana are the people I’m closest to, I’ve also seen that for me it’s been important to be involved in the tech ecosystem as a whole and not limit myself to Montana. Tech, more than any other industry, is not geographically based and more driven by industry. I’ve found a lot of inspiration in Montana but also in the people I’ve met all over the world trying to solve financial problems.
What’s your best advice for aspiring entrepreneurs?
My best advice is to take your time before you jump in. The reality is that entrepreneurship is really hard and stressful and that there are way easier ways to spend your work time and make money. But if you know it’s super hard and can’t shake the idea of building something, then you should go for it. Every time I thought I knew what I was signing up for, it has always turned out to be way harder than I could have imagined. 10 years ago I would have answered this by saying “go for it!”, but the reality is that I’m not sure I’d recommend it unless you MUST do it! Downer answer but it’s true!