Fintech product (payments) 30M valuation (seed level) 0.9% equity (edit : RSA with FMV $0.001) 180k cash Headcount 5 (including 2 founders) - 2 engineers Thoughts? Seems like decently strong offer, but maybe slightly low on equity side. TC : 0 currently (was 210k with 157k cash) Was forced to not work since last July due to visa issues but now all resolved. Edit : ~3 YOE. MVP product exists and being tested with some local chains, but no revenue yet
Yoe?
3
Just MVP that’s being tested, no real product yet. Yup, I agree with the innate difficulty of evaluating a seed level startup.
Great offer, founding engineers can get 0.2% to anywhere they can negotiate. 0.9% is amazing.
I’ve heard ~1% is a good number, but a bit surprised at the consensus in other comments that this is low (top comment has 6 likes on “low equity” sentiment)
I got ~0.4% and 110k base around 3 years ago (when I was at ~2.5 yoe)
Jesus how many more fintech do we need!🤨
.9% is really low for a founding engineer
um …. no it’s good. 10% for the first 10 is generous. so almost 1% is good. do not be confused by “founding”. it may as well say “mister”. it has nothing to do with being a founder
He’s literally going to be the 6th person to join
If your equity is in options, then if you leave before ipo you risk losing it all. Get options that don't expire or exercise immediately if the strike is low enough.
The equity portion is in RSA (stock awards) if that changes your opinion
What is the funding situation ?
1% RSA?! take it not only that. the cash is great too!
That's low - typically founding engineers are 5-10%. Do your research. Post dilution over multiple rounds, you'll have peanuts otherwise
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Low on equity
Low even with my YOE(3) and me being 3rd engineer? Not 1st eng
Ask for 10%. You are getting screwed. I wouldn’t do business with them.