Why Raising Too Late Kills Startups? In this episode of the Recursive RoundTable, we unpack one of the most misunderstood topics for founders: fundraising strategy — not just the “how,” but the when, the why, and the who.GUESTS:

• Iliya Valchanov, Co-founder & CEO @ Juma
• Konstantin Bezuhanov, Co-founder & CEO @ Evrotrust
• Stoil Vasilev, Co-founder & CEO @ Paypercut

They share:

💡 why starting your fundraising too late is the #1 mistake seed-stage companies make

💡 how to structure your investor outreach like a sales funnel

💡 what separates “feature AI” from true AI-powered competitive advantage

💡 how to choose the right investor — not just the one with the biggest check

💡 terms, valuation, control and the long game of capital

You’ll hear real stories about:

👉 outreach strategy and KPIs (77 conversations ≈ 1 deal)

👉 managing rejection and staying confident

👉 the importance of building relationships long before you need capital

👉 why a bad partner can be worse than no partner

👉 practical negotiation lessons and term-sheet wisdom

Whether you’re gearing up for your first round or planning Series A+, this episode gives you the mental model and playbook you need to approach fundraising with clarity and confidence.