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It is no secret that the fundraising landscape at present is far from ideal for startups.

Those businesses that find a way to thrive without taking on large amounts of external funding will ultimately emerge stronger, says White Label Loyalty CEO Achille Traore.

The former footballer has raised less than £500,000 in seed funding since founding White Label Loyalty as Perks Loyalty in 2015, preferring to build a self-sufficient business.

“My advice is to prioritise building a strong business that can operate profitably without raising funds,” he tells TechBlast. “It’s easier to raise funds when you’re not desperate. 

“Do your homework, identify ideal investors, and don’t waste time on those who aren’t a good fit. It should be about more than just the funds.

“Most institutional investors have clear investment criteria, and if you don’t meet these criteria, it’s pointless to pursue them.”

White Label Loyalty

Traore told me a year ago that he was considering a Series A funding round to “get to the next level”.

While we considered a Series A funding round, we’ve adapted our approach due to the challenging fundraising landscape,” he says. “Instead of relying on external funding, we’ve focused on optimising internal operations, streamlining processes and operating a profitable business independent of raising investment.

“Despite the obstacles, we’ve continued to grow and innovate, demonstrating our resilience and value to potential investors. While we remain open to strategic partnerships and funding opportunities, our ability to thrive independently speaks volumes about our company’s strength and potential.”

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White Label Loyalty, which has worked with the likes of PepsiCo and Burger King, has onboarded more industry giants in the last year including British American Tobacco, Daikin and NerdWallet. It has also successfully entered new markets, building its profile in the US and Middle East. 

The company was ranked sixth on our sister publication BusinessCloud’s MarTech 50 this year.

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You get the impression that Traore will not hesitate to take on investment when the right opportunity presents itself.

“The fundraising process is challenging yet rewarding. It demands perseverance, patience, and resilience. Each interaction with investors provides valuable insights to refine your pitch,” he says.

“While it may be tough, securing investors who align with your vision adds significant value and can be hugely rewarding for your company’s growth and success.”

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