SaaS Backwards Episode 178 - Why SaaS Founders Give Up Too Much Too Soon

Guest: Rob Belcher, Managing Director at SaaS Capital

SaaS founders often think equity is the only path to growth—but giving up ownership isn’t the only option.

In this episode, Rob Belcher, Managing Director at SaaS Capital, joins host Ken Lempit to break down how growth debt works, what investors really look for in valuations, and how B2B SaaS leaders can finance smart without losing control.

Key insights from this episode:

• Why growth debt can fund SaaS expansion without heavy dilution
• The financing ladder every founder should understand—from angels to private equity
• How valuation multiples are shifting and what drives them higher
• The role of clean contracts, retention, and growth rate in exit outcomes
• Why AI is creating a “priced for perfection” split in SaaS valuations

If you’re a B2B SaaS CMO or CRO navigating fundraising, growth efficiency, or exit strategy, this episode will help you sharpen your playbook.

Watch the video here.

Other resources to check out:

Interview with Vinay Bhagat, Founder and CEO of TrustRadius who publishes a yearly report about how B2B buyer behavior is changing.

The Lead Gen Mistake I Guarantee You’re Making – how to create content that better identifies intent from today’s b2b buyer.

And, if you want an outside look at your content with actionable advice, take advantage of our Content Audit. Valued at $20K in free consulting