Navigating the Raise Fundraising in a year no one wanted to write cheques

Closing a £5m funding round in a down market is no small feat. For Charlotte Lucy Hall, co-founder of background checking platform Zinc, the process was defined not just by the financial climate, but by a set of overlapping personal and professional pressures that made the experience unique. "Deciding when to disclose my pregnancy during our first funding round was one of the toughest decisions of my life," she says. "My co-founder and I were also silently navigating a long, painful fertility journey. Balancing the intense emotional and physical exhaustion with the immense pressure to secure investment felt overwhelming at times."

The backdrop was unforgiving. The economy had dipped, the tech bubble had burst, and high-profile bank collapses were unfolding mid-due diligence. "Very few firms were writing cheques, especially for first-time founders," Hall recalls. But investors ultimately bought into Zinc's mission to transform a frustrating process into something faster, more transparent, and more empowering. "Our candidate-centric solution is redefining how background checks are done across many industries with particular success in finance, healthcare and education sectors," Hall explains. "In today's competitive landscape, hiring delays can cost businesses both valuable time and top talent. We showed them that our technology gives HR and talent professionals back what matters most: their time."

Zinc's traction played a key role in convincing investors to sign on. From early-stage start-ups like Marshmallow to fintech giants like Revolut and established names like Trainline, the company's client list reflected both adaptability and demand. "The Zinc solution isn't one-size-fits-all; it's tailored to each customer's unique structure and goals. But the consistent benefit for every client is easing the workload for HR teams and reducing stress for new hires during the background check process."

The difficult market was only part of the challenge for Hall. She also had to navigate the delicate decision of when to tell investors she was pregnant. At the same time, she and her co-founder were dealing with a long and painful fertility journey. Balancing these personal struggles with the pressure to secure investment created a constant sense of overwhelm. Hall waited until her second trimester before sharing the news. "By then, we felt a bit more secure in the pregnancy. Thankfully, our investors were incredibly supportive - it was actually very reassuring and truly reconfirmed that we had chosen the right partner in AVP."

Yet for all the concerns about external perceptions, she found the hardest part came from within. "Honestly, my own expectations were far harder to navigate than any investor scepticism," she reflects. "As founders, and especially as women, there's often this intense pressure to prove ourselves by carrying every burden simultaneously." The lesson, she says, is about pace - and permission. "Giving yourself permission to slow down when you need to, and trusting that progress doesn't always look like constant motion, is incredibly powerful. It's okay to take a breath and slow down."

Hall is open about the additional challenges that came from not having a typical founder background. "No elite university affiliations or Big Tech names," she notes. "The absence of those credentials meant we faced an uphill battle for credibility, resulting in more rigorous vetting and outright rejections than we might have otherwise." Rather than attempting to compensate, Hall leaned in. "It pushed us to articulate our true differentiators: our unparalleled understanding of the problem we're solving, the clarity of our long-term vision, and our unwavering, mission-first ethos." That approach not only resonated - it helped redefine the conversation. "This wasn't about trying to fit a mould; it was about amplifying what made Zinc genuinely unique and compelling."

Now, having made it through both the fundraise and early motherhood, Hall wants the ecosystem to evolve. "We need open, honest conversations - between founders, investors, and teams - about the reality of pregnancy and needing time to care for a new baby. These are natural life events that should be celebrated, not treated as taboo." Too often, she says, female founders are forced into an impossible choice. "Currently, women often can't win: judged for returning 'too soon' or for taking 'too long.' This shouldn't be a forced choice."

Zinc's funding round may have concluded, but its broader significance has only just begun. It suggests that the next iteration of start-up culture - if it's going to be more inclusive - must reckon with the whole human behind the founder. And that itself could be a marker of progress. True flexibility, Hall says, must be more than a slogan. "We need a cultural shift that respects these decisions, encourages true flexibility, and provides concrete support, not just platitudes."