How a Financial Services Business Hired a Lawyer to Review a SAFE Note in Connecticut (February 2023)

In 2023, a business in Connecticut sought assistance with reviewing and finalizing a SAFE note to support their upcoming seed round. The client aimed to ensure that they retained control over their fintech venture while keeping outside ownership below 10%. They preferred to utilize a well-known SAFE form to expedite closing and wanted knowledgeable counsel to help them navigate the investor negotiations and effectively structure their cap table on relevant financial platforms. As a result, the client received six proposals from licensed lawyers, with flat fee bids ranging from $645 to $1,200, all submitted to meet the requested deadline of just over one week.