Fundraising: Sage advice from Modulr CEO, Myles Stephenson

Mike Reid

Mike Reid
Senior Partner

General Atlantic, Highland Europe, FIS Worldpay, PayPal, Blenheim Chalcot and of course Frog Capital are amongst the investors that Myles and his team have onboarded at Modulr and his prior business, Corporate Pay.

In this interview Myles outlines his learnings from a range of fundraising experiences, including closing out their recent $100m General Atlantic led raise in the teeth of the Q1 2022 Tech Correction, as well as finalising due diligence with Highland Europe just as Covid broke in 2020.

Here are Myles’ key lessons:

  1. Very early relationship building has been a key part of Myles’s approach – he started investing time with General Atlantic six years before the recent deal
  2. Being ‘funding ready’ in terms of dataroom organisation and detail as you build the business has avoided problematic issues with detailed customer acquisition & retention statistics etc.
  3. Admitting that the ‘running of the business’ will be impacted by the diversion of fund raising has helped their team lift their game through these periods
  4. Treating the intense fundraising periods as B2B sales on steroids has helped build rigour in professionally probing and qualifying investors taking up their time

Watch for an open, down to earth and insightful perspective from one of Europe’s most progressive FinTech leaders.

Mike Reid


Mike Reid