Get fund-ready
Most Kenyan businesses lose in the funding room not because the business is weak, but because the case isn't presentable. Fund-ready means clean financials, a credible plan, and a deck that survives a 20-minute investor read.
What this step covers
- Clean up financials: management accounts, cash flow, and a believable 3-year forecast.
- Tighten the cap table, governance, and the data room investors will ask for.
- A 10-slide investor deck with the only narrative that matters: problem, traction, ask.
The detail
The fund-readiness checklist
- 12 months of clean management accounts (P&L, balance sheet, cash flow).
- 3-year financial forecast with stated assumptions.
- Audited accounts for the last fiscal year (most lenders / investors require this above KES 50M revenue).
- Up-to-date cap table with all share certificates issued.
- Beneficial-ownership filings current at BRS.
- All statutory filings current: KRA, NSSF, SHIF, NITA.
- Material contracts signed and filed: leases, key customers, key suppliers, employment.
- Data room: a single shared folder organised by section.
The 10-slide deck that gets meetings
- Cover — name, one-line description, ask.
- Problem — painful, frequent, expensive.
- Solution — what you've built.
- Traction — revenue, growth, retention, evidence.
- Market — TAM, beachhead, expansion.
- Business model — unit economics, pricing, channels.
- Competition — who else, why you win.
- Team — why this team, why now.
- Financials — historic + forecast, key drivers.
- Ask — amount, use of funds, what you'll achieve.
Approaching investors before the data room and deck are ready. You only get one first meeting. Spend two extra weeks preparing — it saves you six months chasing investors who lost interest.
Frequently asked
Equity or debt — which should I raise first?+
Debt is cheaper if cash flow comfortably services it (DSCR > 1.5). Equity is right when you need growth capital you can't pay back in 5 years, or strategic value the investor brings.
What valuation should I ask for?+
Anchor to actual traction: a multiple of trailing revenue (1–4x for most SMEs) or EBITDA (4–8x). Don't pull a number from a TechCrunch article — Kenyan SMEs trade at different multiples than US startups.
The information in this guide is provided for general guidance only and is subject to change. Fees, timelines, and regulatory requirements in Kenya are updated regularly. Before acting, please confirm details with the relevant authority (KRA, eCitizen, BRS, county government, or other regulator) or speak with a qualified MyBiashara advisor. MyBiashara is not liable for decisions made solely on the basis of this content.
