Bastian Krautwald: 5 Million for wajve – How to Restart After a Pivot

About this episode

The Rocky Road to the Next Big Hit

Bastian Krautwald is making headlines again – and for good reason. After turbulent months filled with discontinued projects, fresh starts, and challenging phases, the experienced founder has raised 5 million euros for his new project wajve, a finance app specifically designed for Generation Z.

A lot has happened since his last appearance on the Unicorn Bakery Podcast. Two funding rounds, a failed project, a completely new beginning, and parallel to that, major successes in student financing – Bastian's journey impressively demonstrates how multifaceted the founder's life can be.

Funding Rounds for New Products: The Art of Persuasion

One of the biggest challenges for any founder is getting investors excited about a completely new product – especially after a pivot or a failed project. Bastian shares his experiences on how to convince investors that this new venture is the right path this time.

Negotiating a funding round after a restart requires not only a compelling vision but also the ability to learn from past mistakes and communicate them transparently. Investors want to see that the founder has reflected and developed a clear plan for the future.

Team Building in Uncertain Times

Parallel to raising capital, every founder faces the task of winning talented team members. Bastian explains how he managed to recruit strong personnel for wajve – despite the uncertainties that come with a fresh startup.

The art lies in conveying a vision that motivates people to leave their comfortable positions and embark on the startup adventure. Authenticity plays a crucial role here: potential team members must feel that the founder is fully committed to their project.

Maintaining Control When Everything Works Against You

One of the most valuable lessons from Bastian's experience is dealing with difficult phases – moments when seemingly nobody believes in the project and doubts take over. How do you maintain control and focus in such situations?

Bastian shares his strategies for mental strength during crisis times. It's not about ignoring doubts, but using them constructively while still holding onto your own vision. Finding this balance is often crucial for long-term success.

Make or Break: When Is It Time to End a Project?

One of the most difficult decisions for any founder is recognizing when a project is no longer working. Bastian provides insights into his decision-making process and the metrics he uses to evaluate a project's success.

The ability to analyze objectively and, when in doubt, have the courage to discontinue a project can paradoxically be the key to the next success. Bastian's path to wajve is a perfect example of how a failed project can become the foundation for something new.

Looking Forward: What to Expect from wajve?

With 5 million euros in the war chest and a clear focus on Generation Z, wajve faces exciting months ahead. Bastian provides an outlook on what to expect from the new finance app in the near future.

Gen Z has different needs and expectations for financial products than previous generations. wajve aims to fill this gap and develop an app that truly fits the habits and values of this target group.

Conclusion: Founding Is a Marathon, Not a Sprint

Bastian Krautwald's story impressively shows that the path to success is rarely straightforward. Failed projects, difficult funding rounds, and moments of doubt are part of the journey. What matters is how you deal with these challenges and learn from them.

His experiences offer valuable lessons for all founders: the importance of perseverance, the art of self-reflection, and the courage to sometimes draw a line and make room for something new.