Do You Know the 5 Biggest Mistakes to Avoid!

The Sales Process Approach to Fundraising with Sonny Patel of Insurmi

Sonny Patel is the Founder and CEO of Insurmi, an AI-based engagement platform for insurance carriers. He started the company just three years ago at the age of 21 while working as a Sales Director and Financial Advisor for a top life insurance company. During that time, he realized the process of buying and selling insurance was unnecessarily cumbersome and outdated. 

Determined to change the process, Sonny worked to develop a solution that would simplify the task and take the guesswork out of insurance buying. That solution would eventually become Insurmi. Now, Insurmi is being used by top tier global insurance carriers to generate new business online, streamline customer claims, and deliver excellent customer service through conversational AI.


Here’s a glimpse of what you’ll learn: 

  • Sonny Patel plays the speed round with Stephanie Sims 
  • Sonny talks about his scariest ask 
  • How Sonny prepared to raise funding for his company, Insurmi 
  • Why you should think about fundraising with the end in mind 
  • Fundraising as a sales process 
  • How Sonny converted “The Maybes”, or the undecided investors 
  • Sonny shares how he determined which investors to partner with
  • Conducting due intelligence on your investors 
  • Some fundraising tips Sonny learned from advisors and CEOs
  • What Sonny is up to now with Insurmi 
  • Fundraising vs. customer acquisition 
  • How conviction about your product will help you convert investors 
  • Sonny shares how he decides who he says “yes” to 

In this episode…

The fundraising ask requires you to prepare yourself on how to present and position the opportunity in a way that excites your investors. And to do that, Sonny Patel, CEO of Insurmi, says you have to approach it like a sales process. That involves qualifying investors to reach out to, being confident about what you’re doing, and knowing how to convert undecided investors, just to name a few. 

 Listen to this episode of What’s Your Ask with Stephanie Sims as she interviews Sonny Patel, the CEO of Insurmi, about his experience of raising a million dollars in seed funding. Together, they talk about fundraising as a sales process, how to convert undecided investors, carrying out due diligence, and more.

Resources Mentioned in this episode

Sponsor for this episode...

Finance-Ability is a boutique consulting firm dedicated to helping business owners and startups find their best options for growth funding. Founded by financial strategist and transaction expert Stephanie Sims, Finance-Ability can help any business owner identify the right funding partners and get through fundraising as painlessly as possible.

Visit their website to take their online assessment test to help you find out which kind of funding is the best fit for your business right now. They also have a ton of resources to help you understand business processes and financial decision-making that can help you start and build your own empire so be sure to check them out.

Stephanie has over 20 years of experience having worked with companies like Goldman Sachs and CSFB. If there’s anyone with their heart in the right place when it comes to championing the dreams of small business owners and startup companies, Stephanie is that person. Let Finance-Ability help you get the funding you need and deserve to get your dreams soaring high towards your own brand of success.


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