SAFE Calculator
Model conversion at the cap and discount so you know what each SAFE costs at the next round.
Your SAFE conversion will appear here
The form starts with a sample post-money SAFE. Model it as-is, or enter your own terms first.
A SAFE becomes ownership when the priced round lands.
The cap, discount and SAFE type determine the holder's effective conversion price and final ownership.
Cap vs price
If the round prices above the cap, the cap gives the SAFE holder more shares.
Discount can bind
If the cap is not binding, the discount may still improve the holder's price.
Post-money is simpler, not cheaper
Post-money SAFEs make ownership clearer, but can be more expensive for founders.
How conversion is modelled
The calculator compares cap and discounted round valuation, then estimates post-round ownership after the new round and pool.
The output is directional because SAFE documents vary.
Use the scenario table to see when the cap stops binding.
SAFE mistakes
Thinking the amount is the cost
The real cost is final ownership, not dollars invested.
Forgetting round size
New money dilutes SAFE holders and founders after conversion.
Combining different SAFEs blindly
Different caps and discounts should be modelled separately.
Related free tools
Questions founders ask
Post-money or pre-money SAFE: which should I use?
Post-money SAFEs are simpler and common, but they lock the holder's percentage before later dilution. Model both to see the cost.
What happens if the round prices below my cap?
The SAFE converts at the round price, with any discount, instead of the cap because that gives the holder more shares per dollar.
Is this legal advice?
No. SAFE conversion depends on the actual document and jurisdiction. Confirm the model with your lawyer before signing.