Once you’ve hit your target we’ll close your pitch and begin the completions process. This usually takes up to a month to complete and will include the following;
Completing your Articles of Association
We’ll work with you (and your solicitors if appropriate) for the completion of your fundraising and agree and adopt new Articles of Association to integrate your new and old shareholders. We will also work with you to draft your cap table and share numbers.
We conduct in-depth Anti-Money Laundering checks on each and every investor and entrepreneur to ensure all parties are protected.
Cooling off period
Investors will be sent a copy of your Articles of Association to review, at which point they will also be informed that they have a cooling off period in which they can consider their investment. Once the cooling off period, which will generally be no shorter than seven days, has passed, the investment in the company will become legally binding.
Resolution and board meeting
If required, the 'Waiver of Pre-emption Rights' and ‘Board Resolution’ documents provided to you are signed by relevant investors and board of directors and reviewed by us. You need to ensure that 75% of the shareholders sign the special shareholder's resolution.
Funds processed and transferred to you
We instigate the capture of the funds from your investors via the payment provider (Stripe). After deducting the payment provider fees and our commission, the net funds are transferred to you. This part of the process usually takes 5-10 working days.
Finalise share numbers
It is important that share numbers are finalised at this stage, so we will confirm the number to be issued to your new shareholders (taking current shareholders into account) and draw up the final investor schedule.
Share certificates generated and issued
We will issue share certificates on your behalf and email them to your investors to complete the funding process.
EIS/SEIS certificates processed
If applicable, we will also work with you to ensure that any EIS/SEIS forms are processed and issued to your new investors so that they can claim any tax relief on their investments.
We operate success-based pricing so we only charge you our fees if you successfully fund on our platform. You'll pay a percentage success fee plus payment processing fees.