💰 Funding

Convertible notes

Lesson 9 of 10 · 5 min read

Older cousin of the SAFE. Has interest (typically 5–8%) and a maturity date (12–24 months). At the next round, converts to equity.

Why it died: SAFEs are simpler. Use a SAFE unless your investor insists on a note (often family offices and individual angels).

Bridge roundsExiting