- Insight: Pitches are an integral part of securing funding.
Building Bloomcart: How Hanan Raised $145k
Tuesday, February 6th, 2024
Hanan Shahin always had an entrepreneurial spirit. While she as studying Architecture, she created a business where she would buy clothes at thrift shops, dry clean them, and bring them to school for her friends to buy. There was no social media to amplify her offerings, so she needed to get in front of her audience to sell. Her scrappy mentality led her to found Bloomcart, a service where shoppers can try products at home without paying upfront. The try-before-you-buy model leads to increased consumer inertia which ultimately leads to higher order values for merchants. Bloomcart operates as an integrated platform, providing comprehensive support for e-commerce, payments, and logistics for the double-sided market. Read our case study to see How Hanan Started.
Our
favorite
quote
“Demand for what you deserve.”
Financials
Funding: Raised $145k (Angel & Institutional funding)
Case Study
HSS: How did you end up choosing the e-commerce and logistics industry?
I think it chose me. During COVID, this model made sense. For example, in Jordan we had a law that prohibited trying on items in the store. That law forced everyone to buy online. I started with a grassroots experiment. I would go to an outlet store, find clothes that were available, and put them on Instagram, and people started ordering from my Instagram. Once I successfully demonstrated the product-market fit, I proceeded to streamline and operationalize the business.
HSS: How were you able to raise money?
I enrolled in the Middle East cohort of the Founder Institute (FI), known as the world's largest VC accelerator, and it was a game-changer. I learned the “game of a startup.” I learned to pitch and it became clear that a great pitch is crucial for startup success. Mastering pitching not only equipped me with the ability to present my ideas coherently but also significantly bolstered my self-confidence. I learned through this experience that self-confidence is a major element of running a successful business. Despite having profitable businesses in previous ventures, I often grappled with a lingering doubt that I wasn’t good enough. Learning to pitch helped shift my mindset.
HSS: How are you acquiring people for the wait list for Bloomcart?
At first I was selling on my own. I thought “I have enough skills to sell this person and that person.” I quickly realized I needed to be more efficient. I started working with an advisor who specifically supports B2B sales.
- Insight: Don’t be afraid to ask for help.
HSS: What is your growth strategy?
Jordan, where I live, is a very small country. I validated the customer journey in Jordan and subsequently tried to expand to larger markets in the region like Saudi Arabia, the United Arab Emirates, or Egypt. However, I realized I needed to get more funding to break into another market.
HSS: What are your lessons learned so far as you look back on the business?
Personal growth is everything. I found that if I grow as a person, my business grows.
HSS: Do you have any additional advice to female-founded businesses?
Demand for what you deserve. Do not wait for anyone to give you anything, because they won't.
- Insight: Demand what you deserve.
Insights
- Pitches are an integral part of securing funding.
- Don’t be afraid to ask for help.
- Demand what you deserve.
How We Met: LinkedIn
I messaged Hanan and we set up a call over email.
