This week’s episode of Funding & Disrupting presented by Oura Collective welcomes Eric Chebil, Founder of the Cher app, and Bryson Hearne, Manager at Village Capital. In the double interview, Keith dives deep to get all the insights on VilCap’s investment in Cher App.
The interview talks about the fundraising process and investment strategies behind the Cher App.
First Meeting & Working Together
Keith starts the interview by throwing light on some unusual aspects of Eric’s life. Do you know Eric Chebil has a license with the Occupational Safety and Health Authority in Tanzania? Well, now you know and, in the podcast, Eric shares how he got it!Located in LA, Eric is a first-generation American. During his early days, he used to work for a big contractor. Bryson talks about his early life too when Keith asks Bryson about receiving part of his education at the Defense Language Institute at Lackland Air Force Base.
When asked about how Bryson and Eric first met, they share a story of what happened. Eric tells how he had applied for a different program at VilCap for an investment. However, he did not go through that program. However, Bryson shares how they had Eric on their radar even if things didn’t work in the program he applied to.
Talking about Eric, Bryson calls Eric receptive and not arrogant at all. He shares how VilCap looks for investors who are receptive to feedback and advice. Bryson emphasizes how VilCap believes in peer learning and working together. Bryson calls Eric an active person who exhibits a pleasant component to the team.
All You Need to Know About Cher App
Keith further asks Eric to discuss in detail their App – Cher. Eric Chebil passionately talks about his venture and the idea that goes behind it. He defines the Cher App as an all-in-one digital concierge that focuses on helping renters become homeowners. Eric discusses how they not only offer tech and free services, but also various loan products. The innovative App lets individuals co-own homes together.
When asked about CherApp development in terms of technology and scale to the masses, Eric talks about their workflow. He also talks about the importance of engaging with the buyers. Eric Chebil believes the level of involvement plays a crucial role with buyers. Eric believes the less they engage with the buyers, the lesser revenue they will generate. In talking about future goals, Chebil wants to achieve a balance between automation and human interaction.
Keith asks Bryson about his thoughts on Eric’s ambitious goals and achieving them. Bryson tells he has 100% confidence in Eric and his venture. He also admires Eric for his strength and component.
Investment Process of Cher App
Keith goes ahead to the next segment of the interview to dive into the funding process of Cher App. He asks Eric to describe in detail the process Cher went through with Village Capital that led to their investment.
Chebil discusses how they first went to Mucker Lab in Santa Monica for an initial investment. Eric Chebil recalls how he had very little knowledge about how the funding process worked at that time. He jokingly tells how he’s surprised that Mucker Lab gave Cher App an initial investment even with the little insight Eric held.
Eric Chebil also talks about his funding experience with Queen City Fintech. He tells how they gave Eric a terrific mentorship and helped him learn so many new skills.
In talking about investment from VilCap, Eric tells the strategy they managed to follow. He discusses ways to get in with huge players. Eric Chebil emphasizes getting the right brand exposure and reach. Eric tells how they had to go through multiple rounds of interviews to get an investment from VilCap.
Chebil tells how extremely professional VilCap is and how he got to learn tonnes of weaknesses while working with VilCap.
Keith also asks Bryson to share the investment process VilCap follows for funding. Bryson tells that VilCap works with large corporations and innovative start-ups. He also tells that VilCap runs many programs where budding founders can dive deep into an entrepreneur’s ideas.
Advises for Founders & Investors
Before concluding, Keith asks his guests to offer a piece of advice for the audience. Keith asks Eric to advise other tech founders that are considering partnering with a VC firm like Village Capital.
Eric Chebil shares how he was skilled and had many ideas, but did not know how to present ideas and pitch. Therefore, he decided to get a co-founder for the app. Eric calls himself lucky to have found a very helpful co-founder. He asks young entrepreneurs to add value to their teams. He suggests that you don’t need money to find talent and asks listeners to concentrate on organic growth.
When Keith asks Bryson how VilCap supports its founders, Bryson opens up about how they love working with start-ups and new founders. VilCap helps by diving deep into the financial models of the companies. Bryson also mentions that VilCap helps Founders by making warm introductions to other investors. Bryson advises founders to facilitate interaction with investors through a robust portfolio.
Lastly, Eric Chebil asks budding entrepreneurs to reach out to the right VCs. He asks Founders to raise all different types of capital. He also suggests choosing partners and teams carefully, as they are the ones who add value to your work.
Cher App Story Notes
Evolution of Cher App
Fundraising & Investment Process
Cher App’s Plan to Scale
Advice for Budding Entrepreneurs