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Creating Our Own Access to Capital Ecosystem – Lien Library
Lien Library, based in Miami Florida, revolutionizes the process of accessing, monitoring, and managing property liens, simplifying interactions between local governments, title companies, property managers, and realtors. The platform offers streamlined access to lien information, facilitates lien payments, and provides financing options, including a buy now pay later (BNPL) feature. Born out of Florida International University and with a vision for effortless lien inquiries akin to checking email or grabbing coffee, the user-friendly interfaces and cutting-edge technology ensure a seamless experience. The goal is to transform lien searches and settlements into quick, intuitive processes that benefit property owners, businesses, and communities alike. Wealth Stream News discussed the access to capital journey with Founder and CEO Macdeur Alabre and Eduardo Mejia, Chief Information Officer
Wealth Stream News: Thank you both for joining me today. I'm eager to hear more about your work with Lien Library and how you've navigated the challenges of raising capital. Can you provide a brief overview of your business and your backgrounds?
Alabre: Certainly. My background is in government, where I encountered the complexities surrounding real estate transactions and property liens. This inspired me to create a solution to streamline access to property lien information. Meanwhile, I'm pursuing a PhD in Industrial Organizational Psychology.
Mejia: And I come from a computer science background, focusing on the technological aspects of our venture.
Wealth Stream News: Fascinating. Now, let's dive into the challenges you faced raising capital and how you overcame them.
Alabre: Skepticism was a significant hurdle, particularly regarding our ability to penetrate the government market. We had to educate investors on our unique approach, emphasizing that we weren't reliant on traditional procurement methods. Additionally, being young entrepreneurs led to doubts about our capabilities, which we addressed by showcasing our expertise and tenacity and leveraging the experience and connections of our mentors and advisors. Developing our own mentorship and advisory ecosystem was essential in accessing capital.
Mejia: On the technology side, skepticism regarding platform security and scalability arose. However, through transparency and demonstrating our robust infrastructure built on trusted cloud services, we gradually gained trust from investors.
Wealth Stream News: It's clear you've tackled skepticism head-on. Can you share a pivotal moment in your fundraising journey?
Alabre: Participating in a pitch competition where Damon John was a judge was a turning point. His validation lent credibility to our venture, instilling confidence in potential investors.
Wealth Stream News: Impressive. How has your shared vision influenced your funding strategy and how you communicate the potential impact of Lien Library's services?
Alabre: Our strategy involves aligning our vision with investors who understand the real estate landscape. We emphasize market opportunities and highlight our ability to provide valuable solutions. Through innovative messaging and a clear return on investment, we articulate the significance of our services to potential investors.
Wealth Stream News: That's strategic indeed. As you reflect on your journey, what advice would you offer to aspiring entrepreneurs facing similar challenges?
Alabre: Education and understanding your audience are crucial. Educating investors about your vision and seeking guidance from mentors can help bridge gaps in understanding and build trust.
Mejia: Additionally, maintaining a clear strategy, even in challenging times, is essential. Flexibility and mentorship can aid in revising strategies and navigating obstacles effectively.
Wealth Stream News: Wise advice. Lastly, given the disparities in access to capital, particularly for minority entrepreneurs, how have you experienced this challenge?
Alabre: Accessing capital has indeed been challenging, but leveraging our network and learning from others who have navigated similar challenges has been instrumental in overcoming barriers.
Mejia: Building relationships with investors who understand our value proposition has helped mitigate some of these challenges, although the journey continues.
Wealth Stream News: Your resilience and strategic approach are commendable. Thank you both for sharing your insights.
Wealth Stream News: Thank you both for joining me today. I'm eager to hear more about your work with Lien Library and how you've navigated the challenges of raising capital. Can you provide a brief overview of your business and your backgrounds?
Alabre: Certainly. My background is in government, where I encountered the complexities surrounding real estate transactions and property liens. This inspired me to create a solution to streamline access to property lien information. Meanwhile, I'm pursuing a PhD in Industrial Organizational Psychology.
Mejia: And I come from a computer science background, focusing on the technological aspects of our venture.
Wealth Stream News: Fascinating. Now, let's dive into the challenges you faced raising capital and how you overcame them.
Alabre: Skepticism was a significant hurdle, particularly regarding our ability to penetrate the government market. We had to educate investors on our unique approach, emphasizing that we weren't reliant on traditional procurement methods. Additionally, being young entrepreneurs led to doubts about our capabilities, which we addressed by showcasing our expertise and tenacity and leveraging the experience and connections of our mentors and advisors. Developing our own mentorship and advisory ecosystem was essential in accessing capital.
Mejia: On the technology side, skepticism regarding platform security and scalability arose. However, through transparency and demonstrating our robust infrastructure built on trusted cloud services, we gradually gained trust from investors.
Wealth Stream News: It's clear you've tackled skepticism head-on. Can you share a pivotal moment in your fundraising journey?
Alabre: Participating in a pitch competition where Damon John was a judge was a turning point. His validation lent credibility to our venture, instilling confidence in potential investors.
Wealth Stream News: Impressive. How has your shared vision influenced your funding strategy and how you communicate the potential impact of Lien Library's services?
Alabre: Our strategy involves aligning our vision with investors who understand the real estate landscape. We emphasize market opportunities and highlight our ability to provide valuable solutions. Through innovative messaging and a clear return on investment, we articulate the significance of our services to potential investors.
Wealth Stream News: That's strategic indeed. As you reflect on your journey, what advice would you offer to aspiring entrepreneurs facing similar challenges?
Alabre: Education and understanding your audience are crucial. Educating investors about your vision and seeking guidance from mentors can help bridge gaps in understanding and build trust.
Mejia: Additionally, maintaining a clear strategy, even in challenging times, is essential. Flexibility and mentorship can aid in revising strategies and navigating obstacles effectively.
Wealth Stream News: Wise advice. Lastly, given the disparities in access to capital, particularly for minority entrepreneurs, how have you experienced this challenge?
Alabre: Accessing capital has indeed been challenging, but leveraging our network and learning from others who have navigated similar challenges has been instrumental in overcoming barriers.
Mejia: Building relationships with investors who understand our value proposition has helped mitigate some of these challenges, although the journey continues.
Wealth Stream News: Your resilience and strategic approach are commendable. Thank you both for sharing your insights.
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