ASAs and convertible notes
Raise before a funding round
Our SeedFAST advanced subscription agreement and SeedNOTE convertible loan note let you take a one-off investment before a funding round. They allow you to raise without having to value your company.
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Introducing SeedFAST and SeedNOTE
Allow pre-paid shares
Decide your valuation later
Use internationally
Create and sign online
Raise smaller amounts
Reduce funding costs
Make ASAs easy
Make convertible notes simple
Advanced subscription agreements made easy
SeedFAST, perfect for SEIS/EIS investments
SeedFAST is ideal before your first funding round or as a bridge to a later funding round. It’s easy to set up and a popular alternative to a convertible note.
Try our SeedFAST equity dilution calculatorSEIS/EIS compatible
UK equivalent of the YC SAFE
For UK investors - SeedFAST can be used by UK or international companies
The convertible loan note with extra features
SeedNOTE, great for more complex deal terms
If your investor is looking for a return of capital, interest or more complex deal terms, our SeedNOTE convertible loan note is the way to go.
Multiple investments per SeedNOTE
Auto-filled documents to save time
Globally accepted
Unlimited help with your ASA or convertible note
Speak to our experts
Not sure whether you need an advanced subscription agreement or a convertible loan note? Stuck on which deal terms to choose? We can help.
Talk to us via live chat, phone, email or video call
Unlimited help included in all plans - no extra cost
7-day support - we’re here 9am to 9pm on weekdays, 10am to 6pm on weekends
Here's how it works
Low transparent pricing
SeedFAST
Raise capital quickly and easily before a funding round with our SEIS/EIS-friendly advanced subscription agreement.
What's included?
SeedFAST Agreement
Investor Consent Notice
Board Resolution
Shareholders Resolution
Board Minutes
Unlimited help from our expert support team
How it works
- 1Create your SeedLegals account
- 2Enter the investment details
- 3Enter your deal terms
- 4Sign your documents
- 5Invite your investor to review and sign on SeedLegals
- 6Your investor transfers the money to you directly
You'll need a SeedLegals subscription first (from £29/month)
SeedNOTE
Use our SeedNOTE convertible note if your investor is looking for interest or return of capital. You can unlock SeedNOTE with £500 and pay the balance on completion.
What's included?
SeedNOTE Term Sheet
SeedNOTE Convertible Loan Agreement (you can take multiple investments per SeedNOTE)
Investor Consent Notice
Board Resolution
Shareholders Resolution
Unlimited help from our expert support team
How it works
- 1Create your SeedLegals account
- 2Enter the investment details
- 3Sign your documents
- 4Invite your investor(s) and shareholders to review and sign on SeedLegals
- 5Your investor(s) transfer the money to you directly
You'll need a SeedLegals subscription first (from £29/month)
Frequently asked questions
Still have questions?
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What is a SeedFAST?
SeedFAST is a type of Advance Subscription Agreement (ASA). These are individual, simple, quick agreements for future equity in the company where investors pre-pay for shares that will then be allocated to them in the next funding round. -
What is a SeedNOTE?
A SeedNOTE is a type of convertible loan note. Convertible loan notes (or just convertible notes) give investors debt in your company. This will then be converted into shares at the next funding round. Being in debt gives an investor more protection if things go wrong, and SeedNOTEs usually have an interest rate which your company pays to the investor.
Read more about convertible loan notes in our article -
When should I use a SeedFAST/ NOTE?
SeedFASTs and SeedNOTEs should be used as a bridge to a later funding round, that will usually take place within a year. These agreements are perfect for when you want to quickly take in a small investment and you don’t want to commit to a valuation and doing a full funding round.
Use a SeedFAST for a simple investment. SeedFASTs are SEIS/EIS compatible.
A SeedNOTE should be used when your investor requires more complex deal terms such as a return of capital.
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When does the investor get issued equity?
The SeedFAST/ NOTE Agreement will convert to equity at the next funding round, when you raise above a preset qualifying amount, or at the long stop date, the date at which it will automatically convert if you don’t raise any more funds.
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Are SeedFASTs SEIS/EIS compliant?
Yes. SeedFASTs are similar to convertible notes but they aren’t classified as debt and this makes them SEIS and EIS compliant. As long as you convert the SeedFAST to equity within six months of your investor sending you the funds.
Read more about SeedFASTs and SEIS/EIS in this article.
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When can investors claim their SEIS/EIS relief?
Investors can claim their SEIS/EIS tax relief in the tax year in which the shares were issued. This means that the investors won’t be able to claim their relief until the SeedFAST Agreement converts to equity. -
Are SeedFASTs and SeedNOTES internationally accepted?
SeedFASTs can be used by companies anywhere in the world for UK-based investors. SeedFAST is similar to Y Combinator’s SAFE but specially created by our Legal team for UK investors. We also have versions for France, Singapore and Hong Kong.
Read more on how SeedFAST works for international companies.
SeedNOTEs can be used for both companies and investors anywhere in the world.
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