SeedLegals, the new online service that helps entrepreneurs close startup funding rounds, launched a new Friends & Family product which will help UK founders close their first round of funding quickly.
The Friends and Family package includes tutorials, expert assistance and a simple way to legally complete the round and issue shares to new investors. By using the SeedLegals platform, founders can reduce the time and cost of closing their round by 80% compared to using a law firm.
SeedLegals’ platform is the world’s first instantly available, online way for start-ups to create all the legal documents needed to complete an early stage investment. The new Friends & Family product provides a start-up’s early investors with everything they need to protect their investment and reliably access SEIS benefits, essential for early-stage UK funding rounds.
Anthony Rose, co-founder and CEO at SeedLegals said “Navigating the legal process required to close a funding round can be the biggest hurdle for start-ups, but more than this, the costs can consume a large chunk of the initial investment which is damaging to growth, especially at such an early stage.”
“Having been through the funding process ourselves many times, my business partner and I wanted to create a service that radically transforms the process for founders and investors. SeedLegals takes a complex subject and simplifies it, combining workflow, tutorials and machine-generated documents in a modern user interface. We’ve built an on-demand platform that anticipates a founder’s needs, fully supported by a team of experts every step of the way.”
The step-by-step workflow created by SeedLegals prompts founders to generate the documents needed at every step. From investment agreements to cap tables, share certificates and more; every document is created, shared, negotiated and signed on the platform. The message is clear – when doing your next funding round, there’s a new simple way to do it.
SeedLegals’ platform, backed by an exceptional team of founders, lawyers, investors and software engineers, promises the highest levels of efficiency, accuracy and customer support. In the five months since launch, SeedLegals has become the largest closer of funding rounds in the UK and has also been recognised with a Best Fintech Startup win at the UKTN Awards for their work helping entrepreneurs to reliably get the funding they need to build a team and realise their vision.
Carlos Espinal, Managing Partner of Seedcamp said “Speed and cost-efficiency are critical to the early steps of company formation and can be a major, and at times insurmountable, hurdle to overcome. This new product addition from SeedLegals will be hugely beneficial not just for founders but for the wider community and bring more, innovative young businesses to light."
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