Simple Agreement for Future Equity (SAFE)
Raise money quickly with a bespoke SAFE Agreement for your startup.
$900 (+ tax)
Not sure what you need? Book a free call with our Legal Concierge.
The modern way to fund an early stage startup.
A SAFE is a way for a new startup to quickly raise money. When a startup has generated enough interest, it can expect to raise money through the issuance of shares in the near future. SAFEs are to generate funds immediately. A SAFE gives investors a discount on those future shares in exchange for making an investment.
Why book a SAFE Agreement?
An easier way to raise.
Raising money through SAFEs is much more simple than traditional convertible notes. Your SAFE is a simple document usually around 5 pages and requires minimal negotiation.
Quick cash with flexible terms.
Get your startup the cash flow it needs to continue growing and prepare for more complex financing, all without risking your equity at the wrong valuation. SAFEs have more flexible terms than equity deals and can often be better for early-stage companies and investors.
Develop your investor network.
By engaging potential investors early, and through a relatively simple first agreement, you can begin to develop and understand the network of funding that your start-up will rely on for years to come.
What's covered in a SAFE?
First you'll have a kick-off call with your Good Lawyer to discuss the current status of the SAFE. After the call, your lawyer will collect the documents they need to complete the Agreement. They will share a copy of the final document.
Book a SAFE Agreement
1. Project kick-off call to gather information, advise you and answer questions.
2. One customized SAFE.
3. One round of minor revisions if necessary.
How does a SAFE work?
1. Book a kick-off call
Pick a time to kick-off the project and discuss your SAFE with a Good Lawyer.
2. Design your Agreement.
Your lawyer will collect all the necessary information to draft your SAFE.
3. Revise the Agreement.
You might have to negotiate with your investors and co-founders regarding the agreement. The first instance of the agreement is often not the final document.
Finalize your Agreement.
Once all the negotiations are settled, you’ll get one round of revisions before your lawyer finalizes and sends you a digital copy of your new SAFE.
Book a SAFE
Get your paperwork done the easy way so you can get back to running your business.
Frequently asked questions
How long do SAFEs take to draft?
Typically, from the time of your kick-off call you can expect to have your final SAFE within one week. It could take a bit longer if your needs are atypical, or negotiations are more complex than expected.
Do I need anything else?
Almost certainly. Running a startup can require a lot of legal and strategic work up front. Talk to your lawyer if you aren’t sure what you need and they will identify if you are missing anything important for the stage your venture is currently at.
Are SAFEs required?
No, it is not a requirement that every startup go through a SAFE financing round. They are, however, an increasingly common way to secure quick, early funding until more complex financing round can be completed.
Where and how is a SAFE kept?
Most companies keep their SAFEs in their minute book. This is a good practice because it is intimately connected to all other corporate documents and should be reviewed regularly alongside the minute book. If you need help with your minute book and your Annual Corporate Return, we can do that too!
Can I use a SAFE I found online or a template?
Can you explain every term in that SAFE and the industry practices that will be applied to those terms during negotiations? If not, you are placing your company at significant risk by proceeding without legal and strategic advice. It is always beneficial and strongly encouraged that you engage the help of a good lawyer when it comes to any deals involving financing and equity.
Will I be able to communicate with my lawyer after the kickoff call?
Yes, absolutely. You can use the Goodlawyer platform to send messages and files. If substantially more communication is needed, your lawyer may request another call.
Are there any resources to help me improve my business?
Yes! We have an extensive library of small business resources ranging from templates, small business tips and tricks, business law, contract law and intellectual property. Check out our legal resource hub!
Not sure what you need? Book a free call with our Legal Concierge.
Goodlawyer is an interactive online service that makes it faster and easier for clients to find and hire legal help solely based on their preferences. We are not a law firm, do not provide any legal services, legal advice or “lawyer referral services” and do not provide or participate in any legal representation.
