When to Stop Bootstrapping and Raise Convertible Debt

5min Business

by 5min Business

In Chapter 9 of 20 software entrepreneur and Borrowed Sugar founder Dan Street shares his excitement about raising a $600K convertible debt financing round for his business after funding the business by bootstrapping. Seeing a need to grow and compensate staff, he decides to raise outside capital after building a team up to eight people. Street reflects that bootstrapping was appropriate given his situation, and that it was a fundamental enabler in developing his vision for Borrowed Sugar.