£15k/month Health Anxiety App - Should They Take Investment or Stay Bootstrapped?

In this episode of the Business Broadcast, host James Sinclair chats with Joseph Newton, co-founder of Conjury App, a startup launched just two years ago that addresses health anxiety. The app has impressively reached £15,000 in monthly revenue, propelled by organic growth from TikTok marketing. Joseph shares insights into the challenges they face, including deciding when to engage with the NHS for partnerships, the possibility of integrating telehealth services, and whether to pursue debt or equity for funding. He aims for a million in revenue and a pilot with the NHS within a year, while also dreaming of a multi-nine-figure exit. Joseph emphasizes the importance of building their user base and marketing efforts while remaining cautious about bringing in external funding too early, as it could dilute their control over the business. The discussion touches on strategic growth through content marketing and the nuances of launching healthcare tech.