How an Internet Business Hired a Lawyer to Draft a SAFE Note in California (December 2024)

In 2024, a business in California sought assistance with drafting a SAFE note as part of their strategy to secure seed funding. The client aimed to refine their initial draft, ensuring that the terms were clear and compelling for potential investors, while maintaining a focus on sensible agreements that would facilitate a successful fundraising round. They were specifically looking to raise $3 million for their fintech venture, which is in the payroll sector and has not previously participated in fundraising efforts. As a result, the client received 13 proposals from licensed lawyers, with flat fee bids ranging from $249 to $1,200, all submitted to meet the client's requested deadline of one week.