Convertible Notes "Product" Question - "SAFEs"

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by a professional
in Crystal Bay, NV, USA

1yr ago

Convertible Notes "Product" Question - "SAFEs"

I know start ups are using discounted convertible notes to finance prior to getting pre VC or PE rounds of financing. I know "carta" has tools to "issue and fund" the notes thrugh their platfor. My question is do you know of anyone that has a service that tracks the loans, lenders, interest accruals and provides the lenders reports to see their total portfolio value? We were having this discussion at a board meeting recently and none of the board members or team knew of any such platform service beyond an excel spreadsheet. Do any of you know of such a tool? We are thinking it might provide a value to the ETA market as well and could be added to our product offerings. Let me know. Thanks

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reply by a professional 1yr ago
in Crystal Bay, NV, USA

I am referring to the actual loan accounting associated with the SMART note. By example a $1MM note with 15 lenders with differnt start dates and dollar investments. Do they do the interest accrual accounting and do the investors have access to a database to see the accrued value on any given date. I thought their service stopped once they SMART note was funded, then its up to you to track the note.

reply by a professional 1yr ago
from Columbia University in Charlotte, NC, USA

See our conv note here: redacted