Lillicrap: Founders Must Notify Banks Before Receiving Acquisition Payouts
Sam Lillicraft · Startup Acquisition Stories with Sam Lillicrap, Founder of Alignr · Jan 24, 2023 · at 8:12
Alignr founder Sam Lillicrap shares operational lessons learned after his bank raised security questions regarding inbound escrow acquisition funds.
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“I would actually make sure that you tell your bank before you're going to do the acquisition that you're going to do the acquisition. That's something I didn't do. And it actually sort of backfired and they were kind of like asking questions. Where's the, where's this payment coming from? It's coming from escrow, but we don't know what the payments for all that sort of stuff.”
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