How to use this checklist
This checklist is for online brands and AI tools serving online retailers. It also helps owners preparing for a sale.
Work through each list before you contact investors. Anything you cannot tick is either a task to finish or a risk to explain openly in your pitch.
1. Company and legal basics
These apply to every company raising money, but gaps here slow rounds more than almost anything else.
- Up-to-date cap table showing every shareholder, option and convertible.
- Signed IP assignments from all founders, staff and contractors.
- Articles of association and any shareholder agreement to hand.
- SEIS or EIS advance assurance applied for, if you are raising from UK angels.
- Company filings at Companies House up to date.
2. Ecommerce proof points
The evidence investors in this sector look for first.
- Repeat purchase shown by monthly customer cohort.
- Contribution margin by channel after returns and marketing.
- Return rates by product and by customer group.
- Where AI has measurably improved conversion, returns or stock.
3. Numbers and financial model
Your model should show how the money you raise gets you to the next milestone.
- Stock levels and ageing, including slow-moving lines.
- Marketing payback period by channel.
- Supplier terms and lead times.
- Share of sales from each marketplace or ad platform.
4. Data room documents
Have these organised in one shared folder before the first meeting.
- Monthly trading accounts.
- Customer cohort exports.
- Supplier and logistics contracts.
- Existing finance agreements and any guarantees.
5. Pitch and investor readiness
Readiness is also about how you run the process.
- A short deck that states the problem, customer, traction and ask in the first few slides.
- A clear amount to raise and a list of what it pays for.
- A target list of investors who back your sector and stage.
- A one-paragraph answer to 'why now?'.
Red flags to fix before you pitch
Investors often stop at these issues:
- Growth bought entirely through paid ads.
- Heavy reliance on one marketplace account.
- Old stock not written down.
- Personal guarantees nobody has mentioned.
Ecommerce readiness: ready versus common gap
| Area | Ready when | Common gap |
|---|---|---|
| Margin | Known by channel after returns | Revenue quoted only |
| Retention | Cohort repeat purchase tracked | No cohort data |
| Stock | Ageing reviewed monthly | Dead stock hidden in totals |
| Channels | No single point of failure | One marketplace dominates |
Questions to prepare before you pitch
- What share of customers buy again within a year?
- What would happen if our main marketplace suspended us?
- How much of this raise funds stock?
- Would a sale be better than a raise?
How KJ Enterprises evaluates ecommerce businesses
KJ Enterprises, through Brands Lab, reviews ecommerce businesses for both investment and acquisition. Owners considering an exit can also see our Sell Your Business page.
If that describes your company, you can apply for investment. Related reading: the complete funding guide and the step-by-step how-to and costs and terms and the marketplace checklist.