Issue and Manage SAFEs & Convertible Notes

Add SAFEs, Convertible Notes, or custom note investments to Cake—whether you're sending agreements for signing through Cake or recording agreements that have already been signed offline.

Add a SAFE or Convertible Note

1. Go to Ownership > Cap Table

2. From the top menu, select SAFEs, Convertible notes or Custom notes depending on the type of Convertible

3. Click Add SAFE or Add Convertible (depending on the note type you're adding, New SAFE or New Convertible if this is not your first Convertible in Cake)

4. Enter the investor's name and email address or choose an existing stakeholder

5. Enter the note details, including:

   • Investment amount

   • Investment round (optional)

   • Valuation cap (optional)

   • Discount (optional)

   • Annual interest rate (optional - Convertible note only)

   • Maturity date (optional - Convertible note only)

6. Finalise your SAFE or Convertible Note:

   • Issue: if the Agreement has already been signed outside of Cake and you want to skip past any signing requested via the platform. Upload the signed agreement & Finish.

   • Save as draft: if you want to send the Agreement for signing via Cake. Select the relevant template (you can choose from previously used templates or add Cake's free template) & Finish.

7. Choose your next step:

   • Invite – Send the agreement to the investor for signing via Cake

   • Issue offline – Record a note that's already been signed (you'll enter the issue date and optionally upload the signed document)

Once a SAFE or Convertible Note is sent for signing, it will move through different stages depending on where it is in the signing process. Learn more about Stages of a SAFE & Convertible Note Offer.

Cancel a SAFE or Convertible Note

If you need to cancel a note (for example, if it's been repaid, cancelled, or dissolved):

1. Go to Ownership > Cap Table

2. From the top menu, select SAFEs, Convertible notes or Custom notes depending on the type of Convertible and locate the Convertible

3. Click Actions > Cancel

4. Select a cancellation type:

   • Repaid – The note has been repaid to the investor

   • Cancelled – The agreement has been cancelled

   • Dissolved – The note has been dissolved

5. Enter the cancellation date

6. Click Confirm to record the cancellation

What Happens Next

Once a SAFE or Convertible Note is issued, it will appear in your list under Ownership > SAFEs & Notes. When the note converts, you can convert it to shares directly from this view. Learn more about Converting Notes to Shares.