Latest / The Series A Show with Fexingo: Early-Stage Funding, Pitch Decks, and Startup Milestones
Why Startups Are Using Rolling Notes Instead of SAFEs
In Episode 81 of The Series A Show, Lucas and Luna explore why rolling notes are replacing SAFEs as the go-to instrument for pre-seed and seed rounds. They break down the mechanics of rolling notes—how they combine a fixed discount with a valuation cap that increases over time—and discuss a real-world example of a fintech startup that raised $2 million using this structure. The hosts also touch on the broader market context, referencing the recent surge in ARKG (Genomics ETF, up 13.8% in five days) as a sign of renewed risk appetite in early-stage biotech, and how rolling notes reflect a…
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