Azot recounts its financing experience

Hello Yohan, can you introduce yourself in a few words and what does Azot do?

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Hello, my name is Yohan, I co-founded Azot two years ago. What is Azot ? Azot is an IT development agency specialized in mobile and web applications development but also in more complex infrastructures for startups.

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Our objective at Azot is to support mainly startups. We have decided not to support larger companies because we believe that many companies are already doing so. Our goal is to help all startups recruit developers but also to be able to advance their solutions during periods of waiting for recruitment. 

In what context did Azot need financing?

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We needed funding to recruit. Our goal is to be able to recruit the best talent in development and to be able to make them available to start-ups quickly.

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We needed a cash cushion to be able to recruit, especially because of the two to three month delay between the time we recruit and the time the developer on assignment will make money for the company. That's why we turned to Karmen, in order to amortize these costs. 

What were your selection criteria?

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Our objective was above all not to dilute our capital to obtain these funds. That's one of our biggest criteria today, we've always moved forward in a "bootstrap" model, meaning that we've always self-financed our growth. So it was really important for us to use a solution that would allow us to have funds without having to dilute shares in our company. 

How didthe onboarding go?

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The onboarding was fast and efficient. We discovered Karmen in June of last year. From the moment we started the process, within a few weeks, we had validated all the necessary information to receive our funds! 

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I think that this is really an essential point for us when we know that we can take, for example, 6/9 months for a fundraising ... with Karmen, it was simply ultra-fast. 

How do you see the continuation of our collaboration?

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We were really reassured about the way Karmen works and we managed to largely reach the objectives we had set ourselves. We already have the ambition to start again on other financings with Karmen to be able to accelerate our growth and to recruit even more developers!

What would you say to a startup looking for funding?

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I would recommend Karmen 100% for companies that want to get financing really fast and especially who don't want to dilute their capital to keep full ownership of their company. If we were to recommend Karmen, it would be mainly for its speed and flexibility.