SAFE calculator.

Model how your Simple Agreement for Future Equity converts at Series A — shares, ownership %, and whether the cap or discount gives the better deal. Built for both post-money and pre-money SAFEs.

Why SAFEs exist.

SAFEs are the Y Combinator-designed standard for seed-stage fundraising — deferring valuation, simpler than convertible notes, and now the most common instrument for first-money-in.

  1. 01
    No valuation needed yet.SAFEs defer the valuation conversation to Series A. Useful when nobody can credibly price the company.
  2. 02
    Cleaner than convertible notes.No interest, no maturity, not debt on the balance sheet. The Y Combinator template is short and standardised.
  3. 03
    Post-money is the new standard.YC switched to post-money caps in 2018. Dilution is predictable — if you raise on a $10M cap, investors get a clean share of post-money cap table.
  4. 04
    Lower price = more shares.Investor converts at whichever is lower — the discounted Series A price or cap-based price. Always model both before signing.

Calculate SAFE conversion.

Total cash invested via SAFE.

Maximum valuation for conversion. $5M is common for pre-seed.

Discount on Series A price. 20% is standard.

Valuation cap includes the SAFE investment (most common since 2018)

Post-money valuation at the round where SAFE converts.

Price per share at the priced round.

Post-money vs. pre-money SAFE.

  1. 01
    Post-money SAFE (standard).Cap includes the SAFE investment. Raise $1M on $10M post-money cap and SAFE gets exactly 10%. Predictable dilution.
  2. 02
    Pre-money SAFE (legacy).Cap excludes the SAFE investment. Stacking notes creates uncertain dilution. Less common since 2018.

Typical SAFE terms.

Valuation cap (pre-seed)$2M–$10M (typical $5M)
Discount rate15–25% (most common 20%)
Investment amount$25K–$2M (typical $100K–$500K)
Standard since 2018Post-money cap

Common SAFE mistakes.

  1. 01
    Not understanding the difference between pre-money and post-money SAFEs
  2. 02
    Accepting both a low valuation cap AND a high discount rate
  3. 03
    Ignoring the impact of multiple SAFEs stacking on top of each other
  4. 04
    Not modeling out future dilution across multiple funding rounds
  5. 05
    Raising too much money on a SAFE (excessive dilution)
  6. 06
    Not negotiating the valuation cap (accepting the first term sheet)

SAFE optimisation tips.

  1. 01
    Negotiate the highest valuation cap possible
  2. 02
    Use post-money SAFEs (became standard in 2018) for predictable dilution
  3. 03
    Limit discount rate to 15-20% (20% is most common)
  4. 04
    Avoid pro-rata rights unless absolutely necessary
  5. 05
    Cap the total amount raised on SAFEs before converting to equity
  6. 06
    Model multiple scenarios: Series A at 2x, 3x, and 5x your SAFE cap
  7. 07
    Consider using a convertible note instead if you want debt protections

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Raising on a SAFE? Now you need to build.

SAFE money buys you 12–18 months to prove the thesis. I help early-stage founders ship that proof — startup MVPs and web applications in Next.js and TypeScript, typically from idea to launched product in 4–8 weeks.

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Built by Taro Schenker — startup MVP development, web development, and SEO for startups and local businesses.