20VC: inDinero's Jessica Mah on Why Angel Money Is Better Than Institutional Money and Boards Should Work For Founders

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The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 3 June 2016

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jessica Mah is Founder and CEO of inDinero, which she started back in 2010 to help entrepreneurs with all their accounting and tax needs after going through the same challenges with her own businesses. Jessica has grown inDinero from zero to multi-million dollar revenues with over 100 full-time employees and has been featured in the Forbes and Inc 30 Under 30 Lists. The company has raised over $10M to date and is growing rapidly. Her goal is grow inDinero into being the leading accounting provider for businesses.

In Today’s Episode You Will Learn:

1.) How did Jessica come to found Indinero, an SMB accounting startup when she was at University?

2.) Why did Jessica decide to raise funding from angels over VC's? What were the benefits of this?

3.) Why does Jessica believe that institutional capital is never patient capital? What additional value add do angels bring that VCs and HNW's do not bring?

4.) How does Jessica like to involve her investors in the hiring process? How can founders do this and why should they?

5.) Why does Jessica believe it is better to have a board that works for the founder and not the other way round? Does this not lead to conflict?

Items Mentioned In Today’s Episode:

Jessica’s Fave Book: A Guide To The Good Life

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Transcript

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0:00.0	This is the 20 minute VC with your host Harry Stebbings, who you can add on Snapchat at H. Stebbings,
0:05.4	and I'm super excited for today's guest, as we had a brilliant chat at the fantastic Saster annual this year by Jason Lampkin, so a huge thanks to him for the intro.
0:14.2	So joining me on the show today, I'm thrilled to welcome Jessica Marr, founder and CEO of Indanero, which she started back in 2010 to help entrepreneurs with all their accounting and tax needs after going through the same challenges with her businesses.
0:27.6	Jessica has now grown in De Niro from zero to multi-million dollar revenues with over a hundred full-time employees and has been featured in the Forbes and Inc. 30 under 30 lists. The company has raised over
0:39.3	$10 million to date and her goal is to grow in De Niro into being the leading accounting provider
0:44.3	for businesses. But before we jump into the show today, did you know that Mattress Domino's is an
0:49.2	official world record with the current record being 1001? and just think, if those were Lisa mattresses,
0:55.5	that would mean over 100 mattresses would have been donated to shelters. Why? Well,
0:59.9	Lisa's social impact mission, of course. They're like the Warby Parker or Tom's of the
1:04.3	mattress industry. So first off, every 10 they sell, they give one to a shelter. Second, they partner
1:09.8	with the Arbor Day Foundation to plant one tree for every mattress they sell.
1:14.3	And finally, they donate their time and resources to help support local and national organizations.
1:19.7	Such a fantastic ethos.
1:21.5	So sleep well and do good with Lisa and head over to Lisa.com forward slash VC
1:26.7	and enter the promo code VC-75 at checkout for
1:30.3	a fantastic $75 off. That's L-E-E-E-S-A.com forward slash VC. However, enough from me, so it's now
1:38.5	time to welcome Jessica Moore, founder and CEO at Indanero. Three, two, one, zero.
1:48.4	You have now arrived at your destination.
1:52.0	Jessica, welcome to Founders Friday.
1:54.0	It's absolutely fantastic to have you on the show.
1:56.0	Thank you so much for joining me today.
1:58.0	Yeah, really stoked to be here.
	...

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