Topic: InsurTech

What Every InsurTech Should Know About Accountants

You have now raised capital initially using a Convertible Promissory Note and soon, your Series A Preferred Stock; you now have a Board of Directors with three members – and there may be five including one or more Independent Directors; you are further expanding your management team – and have established an Option Plan under which you can issue both ISOs and NQSO.

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What Every InsurTech Entrepreneur Should Know About Convertible Promissory Notes and SAFE Agreements

You have a strategic plan; You have an MVP; You have a Team; and You have an Investor!

Both you and the Investor believe in the potential of the Entity. What the exact “potential” is, however, still a matter under discussion.

You hope that the Entity will grow quickly and you will need to sell less equity for the cash you need to scale; the Investor wants to maximize its return – including being well compensated for investing early on and providing essential early-stage funding and support.

However, the truth is that you need money NOW!

What to do?

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