In case you missed it: October 2023

We launched loads of exciting new updates at SeedLegals this autumn and we’re thrilled to share them with you. The first annual Startup Awards entries opened, we made it even more affordable to close investment deals, we released a feature to help keep your cap table clean, and more🤯 Read on for our latest updates and how they can benefit you.

Contents:

What’s new

• Startup awards entries are open
• Funding round fees just got more affordable with Flex
• Simplify your cap table with a rollup
• Investors: create a syndicate in a day
• We made it easier to reward consultants, advisors and NEDs with equity

Coming soon

• Take investment in any currency

Have your say

🆕 What’s new

Here’s what’s new at SeedLegals…

Startup Awards entries are open

We’re bringing together 500 of the best and brightest people who power the UK startup ecosystem to celebrate the terrific talent among us 🤩

The awards are officially open for you to nominate yourself and/or a startup, founder or investor you’d like to see recognised. In just three weeks, we’ve already received over 800 nominations.

There are 14 award categories for startups who’ve made exceptional contributions to the ecosystem through innovation, growth, leadership and all-round excellence. We also have two award categories for investors who make it all possible.

Funding round fees just got more affordable with Flex

We’ve simplified your fundraising costs even more 🥳 With SeedLegals Flex, you can create an unlimited number of SeedFASTs, funding rounds and Instant Investment top-ups for 18 months. You simply pay one fixed fee that’s calculated based on our lowest rate for the entire amount raised.

With SeedLegals Flex, you can:

✅Save money on the costs of funding round and one-off investments
✅Be more flexible with your funding strategy – raise in whatever way suits you best
✅Never miss an opportunity – take investments when they are offered instead of waiting for a funding round

How does it work? Get all the details in our article: SeedLegals Flex: raise an unlimited number of investments for one fixed price.

Simplify your cap table with a rollup

With SeedLegals Rollup, you can group multiple investors into one entity as a shareholder, which appears as one single line on your cap table – hurray!

Rollup makes it easier to raise smaller amounts from multiple investors because you won’t have to deal with the hassle of having loads of shareholders with little voting power as separate entities on your cap table. Watch our video for a full explanation of what a rollup is and why they’re useful 👇

Investors: create a syndicate in a day

Our latest service for investors is here 🥳 With SeedLegals Syndicate, investors can easily invest as a group in companies on SeedLegals.

When you create a syndicate on SeedLegals, you can build, sign and store all your deal documents effortlessly using our automated workflow. Easily keep track of all documentation with the other investors involved in the deal, as well as the investment company. We also make the due diligence easier because we carry out KYC and AML checks on all parties to the syndicate’s deal.

With Syndicate, investors can:

✅Save money on the legals for the investment deal
✅Track and manage the syndicate deal in one place
✅Easily share documents needed for S/EIS tax relief

We made it easier to reward consultants, advisors and NEDs with equity

We recently updated our contractor, advisor and NED agreements to allow for equity to be given as payment for services, rather than according to a typical vesting schedule.

This update makes it easier for both parties to agree on the right number of shares and the correct, fair and clear price for those shares, which the recipient will pay by providing services.

Read more about this update in our Help Centre: Rewarding Consultants, Advisors, and Non-Executive Directors for their services with equity.

🔜 Coming soon

As usual, our team is hard at work on many different projects. Here’s a peek at what’s coming soon:

Take investment in any currency

Soon, SeedLegals users in the UK will be able to take investments in any currency using any of our funding services. We’ll calculate the equivalent investment amount in pounds (GBP) and determine the exact number of shares to issue according to whichever currency your investor pays in.

Have your say

Got an idea for us? Is there something we can do better? We love to hear your feedback – good, bad and ugly. Let us know by email: [email protected]

If you aren’t already a SeedLegals member, head over to our Pricing page to find the right membership for your company.