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Module 7: Introduction

Within the range of equity and debt financing options are myriad structures, including convertible preferred shares, convertible notes, and revenue sharing debt as an equity alternative. This module will cover the convertible note controversy – why some prominent Series A investors don’t like them – and feature investors and others from the African ecosystem familiar with the investment structures of recent financings.

1. Structures
a. Preferred shares
b. Convertible notes
c. Alternative structures

2. Which is right for your company?

Outcome: Companies will gain a more in depth understanding of what types of growth financing structures are available and appropriate to them. Working with mentors, companies can make sure their fundraising ask is a match to what investors are seeking.

XL Africa Academy


The XL Africa Academy consists out of nine intensive training modules, designed to complement mentorship. As with the entire XL Africa program, these modules are created to help companies looking to raise post-seed capital in order to scale. The advanced content is brief and action oriented: what are the most important things you need to focus on to accelerate funding, corporate partnerships and growth?


  • Instructor led video
  • Guest speaker video
  • Supplementary written content
  • Additional reading materials
  • Worksheets


You Will…

  • Learn the subtleties of communicating with investors and navigating the challenging process of fundraising, from an experienced investor
  • Understand how to graduate from the Lean Canvas framework to scaling your business frameworks
  • Address the next set of questions and issues that follow completion of initial product delivery and early traction in your first market

With The Goals Of…

  • Focusing discussions with mentors on the most urgent issues and most advanced advice
  • Preparing for professional discussions with investors throughout the program but especially during the November 2017 residency
  • Accelerating progress towards success in the long and often frustrating processes of fundraising, corporate partnership and scaling
  • Building on your initial success and breaking out of the pack.
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