Vev, founded by ex-Apple staffers, helps entrepreneurs instantly launch their businesses. Check out the 12-slide pitch deck it used to raise $5.3 million.
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- A Dutch startup founded by Apple alumni has raised $5.3 million from Notion Capital.
- Vev provides entrepreneurs with industry-specific software tools to instantly launch their businesses.
- Check out the 12-slide pitch deck it used to raise the fresh funds.
Vev, a startup founded by ex-Apple staffers, has just raised $5.3 million from Notion Capital and Point Nine Capital.
The Dutch startup launched in 2021 to make setting up a business easier for entrepreneurs. Usually, smaller entrepreneurs don’t have a lot of data or software at their disposal, which otherwise eases their workflow when launching a service, said cofounder Michel Elings.
Vev has examined key pain points for small businesses in their launch process, and designed a software product that tackles these main issues, Elings added.
The startup’s software platform can be accessed from any device, and offers over 100 business types, from flower sellers to bakery owners, to choose from. Entrepreneurs are then given access to sector-specific tech tools — such as implementing confirmation and cancellation processes, to payment tracking and automating opening times and holiday schedules — so they can immediately bring their product or service to the market.
“We want to remove the friction otherwise common in the process, and want people to immediately start selling,” Elings said.
Vev is currently working with two revenue models. There is a Pro model, which is catered towards entrepreneurs who want to pay a monthly subscription for extra features that aligns with their existing workflow. The second model is the pre-payments feature, wherein Vev takes a small cut of the transaction.
“We came from Apple so we saw payments would become more digital,” he said. “So consumers are adapted to a digital payments method — and the merchant is also in the know. We think you should do all this from your phone.”
Although the funding landscape for tech startups remains stringent, Elings noted that “different funds are looking for ways to help SMEs”, and the market for innovating solutions for smaller merchants is “really big”.
The round was led by European B2B SaaS and cloud venture capital firm Notion Capital, which has previously backed GoCardless and Paddle. Additional backing came from Point Nine Ventures, a VC firm that has backed tech juggernauts Revolut and Contentful, along with a number of angels who came on board from Apple.
With the fresh funds, the startup will extend its team, with a dedicated focus on product and growth — a strategy that the founders have taken from their experience at Apple and Booking.com.
Check out the 12-slide deck used to raise the fresh funds.