“We got on the phone and rang anyone we could think of who might be interested in this opportunity and tried to build a lot of hype and awareness. We also really tried to build an audience so every person we met with, we added to our investor update list,” says Chambers.
After six months of contacting and updating potential investors, the team’s hard work paid off.
“People wanted to talk and invest. That gave us choice, and choice is a good thing when you’re a small business because it’s not something you typically have.”
Chambers then put some criteria in place. “We thought carefully about the investors who had shown interest and who were really going to accelerate the business and add value.”
Common Ledger ultimately got the most capital from private high-net individuals.