A series B funding/fund refers to one of two additional fundraising rounds which are done after a business has been established and has started making money. It refers to the process where a business owner seeks an injection of cash into the business from venture capitalists to refine a brand or improve the business in one way or the other. It is the second round of funding for a business after its initial stage. Series B usually

takes place after the said business has accomplished some measure of success in the market and is reasonably past its start-up stage. The amount raised is typically more than what was raised in series A. Here's the article on how to raise series A funding in case you missed it. (How to raise series A funding).

When to consider series B funding.

You should consider series b funding when:

• you have a solid customer base for your products.

• And if you need more money to fill the growth of your business.

Before you do this however you need to understand your business model as investors would want to know how you plan on making money. You need to have a product or an existing service that is already being used by customers. Go ahead and organize your team. Your team should comprise individuals that can see and execute your vision. This would also give investors' confidence in your business. Be sure to have a growth plan.

Getting series B investors.

To get investors, you need to look for people who have a record of investing in companies similar to yours. They could be any of the following.

• venture capitalists: venture capitalists are people who provide needed capital to companies that have a high potential for growth in exchange for a percentage in the company's equity stake. Here's how you can find venture capitalists. https://www.growthink.com/content/how-find-venture-capitalist-5-best-places

• Angel investors: angel investors usually have a more personal relationship with the entrepreneur and are willing to take risks

• Hedge funds: hedge funds gather money from a pool of investors and then the manager uses the money to invest in a variety of different assets such as stocks and bonds and in businesses that have the potential for growth and reasonable profit-making.

• Investment Banks: investment banks refers to banks or financial institutions that use the capital for clients by underwriting and issuing securities.

After having identified which of the above you want to be your series B investor, the next thing to do would be to create a perfect pitch as this is what would make your investors put their money into your business.

Before you pitch

• Do research: make a thorough research on your target investors and tailor your pitch to meet their standards and requirements based on their history

• Establish a relationship: Get to know your investors. This gives you a better chance of getting funds from them. It is advised that you make acquaintances with them.

Your perfect pitch

• Company summary: This is a document that contains a brief look at your company and should include your mission statement, target market and existing competition.

• Business model: Your pitch should also give information about how you plan to generate revenue through the funds you are seeking for. It is wise to include details about your products.

• Financial information: You should do well to include what your present financial situation is and what your future projections and forecasted growth look like

• Call To Action: Let the investors know exactly what you need them to do in clear terms. Urge them to invest in your business without delay.

You should not fail to show what you have accomplished since your previous round of funding and state the plans you have for this round of funding. Include verifiable statistics.

If your business is yet to get to the stage where series A or B funds can be raised, here are other ways to generate funds for your business. https://smartsmssolutions.com/blog/118-sms-marketing/small-business/1722-how-to-raise-funds-to-start-my-business

After pitching.

• Be persistent: do not stop seeking funds from other investors. As we agreed earlier, because investors receive several requests daily, the odds are against you already. For this reason, you should keep pitching to other investors until you get what you need

• Follow up: hardly would investors grant you funds right after your pitch. That does not mean that your work is done or that you should relax, you should follow up with calls and emails as this would show that you are serious and interested in working with them and getting the funds you asked for.

Having followed the guideline above, your investors would be sure to call you up in no time.

SmartSMSSolutions-how we come in.

We at SmartSMSSolutions can help you promote your business and help you and some cool cash by the side while at it. In promoting your business, we will help you run campaign ads using our tools such as bulk SMS voice OTPs and emails and this will attract more people to your business.

You can start making money from SmartSMSSolutions anytime you refer someone to the business using your referral link. Find out more about our Refer and Earn program. While at it, also buy airtime and data at very affordable rates as well as payment for your electricity bill.