- Lotanna Ezeike is the CEO and cofounder of invoicing service XPO, which aims to help content creators.
- XPO raised more than $1 million in seed funding before officially launching its product.
- Ezeike shares the pitch deck he is using to lure investors and explains why bright colors and emojis helped his presentation.
- See more stories on Insider’s business page.
More than 50 million content creators have to wait 120 days to be paid by the brands they work with, said Lotanna Ezeike. His company, XPO, is trying to shorten that period to 24 hours.
XPO is an invoicing service that seeks to be the intermediary between creators and brands. Once a creator submits an invoice to XPO, the company confirms its legitimacy with the brand, collects the earnings, and distributes the money.
XPO officially launches to the public on August 2 but already raised more than $1 million in a seed round led by investment firm Blue Wire Capital. What’s more, it’s on track to close the round at $1.6 million in September, Ezeike said. This comes as the creator economy, which counts 50 million people globally, continues to grow, according to a report by venture capital firm SignalFire.
Ezeike, 23, and Tomi Aiyeola, 24, started the business in 2019. XPO is beta testing its product with 250 creators and, so far, has worked with companies like Adidas, Depop, Fenty Beauty, and Nike.
“We have no cases of brands not paying,” Ezeike said, noting that XPO has a waiting list of more than 2,000 people. “We only work with blue-chip brands who are under-written and credit checked.”
Ezeike shared XPO’s pitch deck and explained how they organized the slides, engaged investors with succinct points, and appropriately used emojis. Sensitive information has been redacted.