In 2020, I was on a self-imposed exile in Silicon Valley. I had just stepped down as CEO of Flutterwave and left Nigeria after helping my principal—a female presidential candidate—run for office. Our campaign ended abruptly due to internal party sabotage. I was broke, restless, and with a 9-month-old daughter, I told myself, “I’ve done enough for Nigeria. Time to build my VC career globally.”
God had other plans.
Before leaving, I had promised two private equity founders I’d help them with their tech-enabled vehicle financing startup—Moove. After a year of hustling, we reached a critical point: Uber was in, but capital was needed to perform.
It was New Year’s Eve. While the world was celebrating, I was raising Moove’s first check—Future Africa’s first SPV. We had 72 hours to pull together a couple hundred thousand dollars.
I emptied part of a recent Andela secondary payout (bless my wife for allowing it), cajoled my team to write small checks, and then… I called the list.
Not a cold list. The list of angels and funds I’d made money for in the past—people who trusted me. Some names you’ll know: LoftyInc, 4DX. Others are quiet giants.
Of course, I got plenty of “no”s. Wrong timing. Weird model. Political baggage. Some just wanted me to “build another Flutterwave.”
But a few said yes—without understanding the model fully—because they understood me.
We closed in time. Moove is now one of our best-performing portfolio companies ever.
That experience taught me:
Fundraising, especially under pressure, is not about pitch decks or mass emails.
It’s about who knows you, not just who you know.
So if you’re a founder, ask yourself:
• Do you have a list of people you’ve made money for?
• Do you have people who’d wire funds without blinking because they believe in you?
• Do you have people with the means to move fast when timing is tight?
If not—start building that list today. Fundraising isn’t a sprint for capital. It’s a marathon of trust.
Iyinoluwa Aboyeji, co-founder, Andela & Flutterwave, is the Founding Partner, Future Africa.
(Article published with permission)
