From unicorns to early-stage startups, everyone is downsizing ambitions

The founder of a fintech major pitched to investors for the better part of 2021, the year entrepreneurs unflinchingly asked for the moon as stratospheric interest in startups upended the notion of fair price.

“There is no such thing as raising too much money. I knew I didn’t need the money and that in a logical conversation, there is no way to benchmark a $1-billion valuation at this stage of company building. But one can always ask and maybe even get (it),” the founder said.

To be fair, his fintech had everything going for it: a well-defined business strategy, a team of seasoned executives, marquee backers and a cash runway of more than three years.