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In recognition of International Women’s Month, Ottawa’s Capital Angel Network and the National Angel Capital Organization present a series of stories celebrating the women who mobilize angel investment for Canada’s bold women entrepreneurs.
When Nadine Martel received a LinkedIn message from Kayli Dale and Jacquie Hutchings, the co-founders of Friendlier, a startup that aims to eliminate single-use packaging thereby reducing waste and emissions, she was intrigued.
Angel investors active on LinkedIn share something in common: rarely a day goes by when they don’t get a DM (or two) from a plucky founder hoping to connect for one reason or another. And while you certainly can’t blame an entrepreneur for trying, it’s not an approach that always works. Of course, sometimes it does. When Nadine Martel received a LinkedIn message from Kayli Dale and Jacquie Hutchings, the co-founders of Friendlier, a startup that aims to eliminate single-use packaging thereby reducing waste and emissions, she was intrigued. “This wasn’t the first time I’ve had requests from founders on this platform, but this one managed to pique my interest. Because who they are and what they’re doing aligned with my investment thesis, I decided to have a call with them to see what would come of it,” says Ottawa-based Martel, who spent her career in management consulting specializing in environmental responsibility and sustainable development. Martel prefers to invest in impactful companies that have the potential to benefit the planet and she’s a staunch supporter of women and underrepresented founders. “I focus on supporting businesses that contribute to the well-being of women and our communities. I love meeting and investing in founders who are passionate about solving key issues we’re facing today,” she says. “When I connected with Kayli and Jacquie, I was immediately impressed. Their vision to divert all food packaging and cutlery waste from landfills resonated with me — they saw a problem, did the research and figured out a solution to tackle it. They really understood their business model and strategy and they were motivated to see it succeed. I thought their idea would also resonate with investors at my angel group, Capital Angel Network (CAN), so I introduced them.” For Guelph, Ont.-based Friendlier, Martel’s support and the introduction couldn’t have come at a better time. Dale and Hutchings met as chemical engineering students at the University of Waterloo and both shared a desire to use their skills to help the environment, especially after being so taken by the emphasis on minimalism and sustainability they experienced when studying in Sweden. Overseas, there’s less reliance on single-use packaging and the two were inspired to bring that ideology back to North America. So by the time they graduated in April 2020, they had made a pact to give the reusable packaging system they conceptualized their all.Kayli Dale is the CEO at Friendlier and a Forbes 30 Under 30 recipient.Their circular system was designed to be simple and effective. Customers, including restaurants, grocery stores and corporate offices, order containers and use them to serve their products. Dishes are picked up, sanitized at one of Friendlier’s facilities, then sent back out for reuse. Patrons ordering from participating restaurants, for example, are able to request their eco-option, pay a deposit ranging from 50 cents to one dollar, eat and scan the QR code on the container (their deposit would be reimbursed upon sending the container back) before dropping it into a marked collection bin. It was a resourceful and creative idea from the get-go, and while Dale and Hutchings were successful in receiving grants and even raised a small amount from friends and family, they knew they needed significant investment to grow and scale. “We started reaching out to angel groups, but we never got past the first stage; we were told we were too early, or they just didn’t like what we were doing because it wasn’t a pure software play,” says Dale. “We also recognized it would be difficult to raise as women founders and we knew less than two per cent of female-founded companies get funding.” When they reached out to Martel, they got the opportunity they’d been waiting for. “Nadine was interested in what we were doing and she didn’t make us jump through hoops, she was willing to hear us out. When she introduced us to CAN, we were finally able to access those angel groups. She was the one who created that bridge and removed those barriers.” Martel has made about 20 investments since joining CAN and SheBoot (an investment-readiness program that prepares women founders to pitch their innovations and secure funding) and each one has gone to a woman-founded or otherwise diverse company because she knows the hurdles these groups face when it comes to funding. “If co-founders or the executive team are predominantly white males, I tend to bypass those companies, not because I don’t view what they’re doing to be innovative, but because I know the all-white male team will find investors easier than the others,” Martel explains. “When we went to raise our round that closed late last year, many of our angels were ready to step up again and show us more support; we raised $7.5 million. We wouldn’t have gotten this far without Nadine,” Dale says, adding Friendlier is flourishing. It has expanded from Ontario and western Quebec to the Greater Vancouver Area, its customer base is growing and, so far, 1.5 million containers have been sent back and reused. While the financial investments have been crucial, Friendlier’s angels have contributed in a host of other equally important ways. “Whether it’s recommending hires, sharing information about areas we’re interested in expanding to, or offering advice on specific aspects of the business, angels are always really receptive.” Martel is still highly engaged. She’s introduced Friendlier to venture capitalists, local businesses and even to her husband, a former CTO at Shopify who was able to provide invaluable technology mentorship. “There have been a number of women throughout our journey who have gotten us to where we are today and Nadine has played a big role,” Dale says. It’s Martel’s relationship with her fellow angels and founders such as Dale and Hutchings that keeps her engaged, and she credits the good she’s been able to do diving into angel investing, even though it was uncharted territory when she signed up for her first female funders’ program. “I got out of my comfort zone and realized there was a place for me. We need diverse opinions and people from a variety of different backgrounds and women who aren’t sure about participating will find they’ll get confidence just from being around other women,” she says, adding she’s a member of the investment committee for Audaxa Ventures and has a champion investor membership with The51. “There are more and more initiatives and programs popping up and they’re a great way to get more women interested in and comfortable with angel investing; anyone can do it. You quickly see how fascinating it is to meet such extraordinary entrepreneurs and how humbling it is to be able to support their startups.”
https://obj.ca/ottawa-angel-marisa-fosco-backed-afynia-endometriosis/
