Introduction
Raising capital without revenue feels like pushing uphill. You’ve got a brilliant idea, a tiny team, but zero sales. Investors want traction. They want numbers. In the UK, early-stage fundraising can be even tougher than across the pond. But one UK startup broke through the noise and raised £300K in a single pre-seed round—despite having no revenue.
Their secret weapon? SEIS, HMRC’s Seed Enterprise Investment Scheme, paired with Oriel IPO’s commission-free SEIS/EIS Investment Marketplace. Let’s unpack their journey, uncover practical steps, and show you how you can start raising capital without revenue.
The Challenge: Why Raising Capital Without Revenue Is Hard
No revenue equals no proof of concept. That scares many investors.
- Angles of risk: You’re an untested team with no sales history.
- UK conservatism: Investors here demand traction or strong guarantees.
- Commission fees: Traditional marketplaces can eat 5–10% off your raise.
- Advice gaps: Non-FCA platforms can’t give financial advice, so you feel stuck.
But where there’s a challenge, there’s an opportunity. SEIS/EIS tax incentives exist to reward early bets. And platforms like Oriel IPO exist to connect you, commission-free.
Leveraging SEIS with Oriel IPO
Oriel IPO is an online investment marketplace designed for UK startups and investors. Its mission? Simplify SEIS/EIS deals, remove commission fees, and provide curated, educational resources.
Commission-Free SEIS/EIS Investment Marketplace
- Zero success fees: Keep every penny you raise.
- Subscription-based access tiers: From free trials to premium tiers, you pick the level that fits your stage.
- Curated deals: Investors see vetted startups ready for SEIS/EIS.
Educational Resource Hub
- SEIS & EIS guides: Easy-to-follow content on tax relief rules.
- Investor matchmaking tips: How to find qualified angel investors.
- Pitching playbooks: Templates and examples to nail 3-minute, 5-minute, and 10-minute pitches.
Simplified SEIS Approval
Oriel IPO’s platform walks you through:
- Preparing HMRC applications.
- Gathering one initial investor commitment.
- Submitting documents to get SEIS advance assurance.
No guesswork. No hidden fees. Just clear steps for raising capital without revenue.
Case Study Overview
The Startup Profile
- Founded: January 2020
- Sector: B2B SaaS for scientific creators
- Team: 2 co-founders, early hires lived off personal savings
- Revenue at raise: £0
Funding Journey & Key Steps
Personal Savings & Friends
The founders lived on savings while building an MVP. Their first investor: a friend who heard their endless pitch and backed them with £50K.
• Tip: Talk about your idea nonstop. You never know who’s listening.Securing SEIS Advance Assurance
With one angel promise, they applied to HMRC for SEIS approval. Oriel IPO’s step-by-step guide made it painless.
• Result: SEIS advance assurance in 6 weeks.Joining Accelerators
They pitched to reputable accelerators and chose one offering £100K for 10% equity. The deal came with solid mentorship and access to further investors.Oriel IPO Launchpad Round
Using the platform’s curated marketplace, they created a campaign with clear terms, SEIS details, and a lean deck.
• Result: £150K raised in two weeks, commission-free.Final Angel Top-Up
Remaining £50K came from three angels discovered through LinkedIn introductions and Oriel IPO’s network features.
The Outcome
- Total raised: £300K
- Time to close: 3 months from incorporation
- Commission paid: £0
This case proves that raising capital without revenue is possible if you combine SEIS incentives with the right marketplace.
Lessons & Best Practices for Raising Capital Without Revenue
Want to follow in their footsteps? Here are actionable insights.
1. Launch a Lean MVP Fast
- A single landing page.
- A simple spreadsheet of early users.
- Skip perfection—focus on proof of concept.
2. Tap Your Personal Network
- Talk obsessively about your idea.
- Ask for introductions through LinkedIn.
- Offer early SEIS tax relief as a sweetener.
3. Master the Pitch
- Prepare 3-, 5-, and 10-minute versions.
- Practice until you know it by heart.
- Use storytelling to hook investors.
4. Leverage Tax Incentives
- Apply early for SEIS advance assurance.
- Claim R&D tax relief annually.
- Highlight tax benefits in your deck.
5. Choose the Right Platform
- Look for commission-free options.
- Ensure they provide educational support.
- Verify their network quality.
Oriel IPO vs Traditional Platforms
Raising capital without revenue takes more than a listing. Here’s how Oriel IPO stacks up against conventional marketplaces:
• Commission Fees
– Traditional: 5–10% on raised capital
– Oriel IPO: 0% fee, subscription model
• Tax Incentive Support
– Traditional: General advice, little hand-holding
– Oriel IPO: Step-by-step SEIS/EIS tutorials
• Educational Resources
– Traditional: Webinars, case studies
– Oriel IPO: Interactive guides, pitch templates, community Q&A
• Investor Network
– Traditional: Broad but unfocused lists
– Oriel IPO: Curated angels active in your sector
• Regulatory Advice
– Traditional (FCA-regulated): Can offer bespoke advice, but at a cost
– Oriel IPO: Non-FCA, focused on connection—ideal if you just need deals
When you’re raising capital without revenue, you need clarity and zero hidden fees. Oriel IPO gives you both.
Conclusion & Next Steps
Raising capital without revenue doesn’t have to feel impossible. With the right playbook, SEIS incentives, and a commission-free platform, you can secure pre-seed investment quickly.
The case study above shows it’s doable in as little as three months. You just need:
- A lean MVP
- Strong personal outreach
- A pitch that sings
- The right SEIS/EIS partner: Oriel IPO
Ready to start raising capital without revenue the smart way?
Get Started Today
Discover how Oriel IPO’s Commission-Free SEIS/EIS Investment Marketplace can transform your fundraising journey.
Start your free trial or explore our features now:
https://orielipo.com/
