Terms of use

The calculator is free to use, needs no account, and is provided for education and information.

Not advice

This calculator is provided for educational and informational purposes only. It does not constitute investment, legal, tax or financial advice, and it does not recommend any investment. Speak to a qualified professional before making investment decisions.

Results are hypothetical

Results depend entirely on the assumptions you enter. Exit figures are hypothetical scenarios, not predictions, and actual investment outcomes may differ significantly. Paper values are implied by valuations and are not prices at which shares could necessarily be sold.

What the model leaves out

The calculator works from the investor’s side only. It prices every instrument at the valuation of the round it is written into, so SAFE and convertible loan caps, discounts and interest are not modelled. It treats later investors’ preferences as 1× non-participating, and it ignores taxes and currency movements.

No warranty

The calculator is provided “as is”, without any warranty that it is accurate, complete or available. To the extent the law allows, the operator is not liable for any loss arising from its use or from decisions made with it.

Shared links

A shared link carries the calculation in its address. You are responsible for who you share it with.

Changes and contact

These terms may change; the date below shows when they last did.

Contact details for the operator of this site will be published here.