A SAFE (Simple Agreement for Future Equity) gives an investor the right to shares in a future priced round, without being a loan — no interest, no maturity date. It is a fast, standardized way to raise early money and defer valuation.
Where in the journey
Pre-seed and seed.
What the money is for
Raise early capital quickly with minimal legal overhead.
Common investors
Accelerators, angels, seed funds.
Watch out for
Stacked SAFEs with different caps can cause surprising dilution at conversion.