Why I chose NOT to raise funds (and what I learned)

Fundraising or Bootstrapping: Which Path to Take?

Today, let’s talk about a big question I get all the time: Why don’t you raise funds?

Years ago, I thought fundraising was the only way to build a successful business: get investors, scale fast, and make an impact. But then I discovered another way—bootstrapping, thanks to tibo_maker who told me he built in public on X (twitter at that time). I discovered the indie hacking world, and it completely changed my perspective.

My opinion on both fundraise & bootstrap model.

Fundraising

Raising funds can sound glamorous, but it comes with serious trade-offs:

• High failure rates: Around 90% of startups fail, and many of them are VC-backed.

• Investor expectations: Once you raise money, you're no longer just working for yourself—you’re working for your investors.

• Growth pressure: VCs expect fast scaling, often pushing startups into unsustainable growth.

• Loss of control: Investors have a say in your decisions, sometimes shifting your vision away from what you originally wanted.

The upside? You have money. Financial stress is reduced, and you can hire, build, and expand much faster.

The Reality of Bootstrapping

Bootstrapping, on the other hand, means:

• Full control: You decide the direction of your business—no external pressure, no board meetings.

• Financial responsibility: You need to cover your expenses. Many founders keep their day jobs until revenue is stable.

• Sustainable growth: Your business grows based on real revenue, not investor cash.

For 3 years now, I chose bootstrap path. It allowed me to move at my own pace, while I was a full time employee. It was frustrating no be able to work on my project all the time, but financially it was super not to have to stress about paying bills each month.

It wasn’t always easy, but no path are easy.

No Right or Wrong Choice

Raising funds isn’t bad. Some businesses need it to get started. For instance, if you want to create a new car model, this product is super expensive, you’ll need a lot of money to build prototype and sell it.

The key is making sure you’re choosing the right path for your goals.

Before jumping into fundraising, ask yourself:

• Do I need investors to build what I envision, or am I just following the mass?

• Am I ready to give up control in exchange for speed?

• Can I reach my goals by reinvesting revenue instead?

➡️ And you, what’s your choice? Are you bootstrapping or raising funds? Let me know—I’d love to hear your thoughts!

Catch you soon, Pauline