The things founders ask before they sign. If yours isn’t here, write to hello@fundnow.ai.
Nothing to apply, and there is no fee for the screen, the decision or the report. The one cost to know about: if your round completes and needs investor-side legal work, the company may reimburse those legal costs, as is market practice. If so, the amount is capped in the term sheet and paid straight to the solicitor, never to FundNow. You don’t need a warm introduction: you can apply any day, with evidence.
Yes, and FundNow signs it before you share a word. It takes two minutes on the home page, and you get a signed copy as a PDF straight away. The NDA is here in full.
Eleven items: your pitch deck, the round (with a 24-month monthly forecast), financials, bank statements, cap table, IP documents, the shareholders’ agreement, your five most important signed contracts, a way into the product, one CV or LinkedIn link per founder, and one page of references. Leave out marketing material, press, photos, videos, drafts and old versions, email threads, personal bank statements and ID documents. If it doesn’t back a claim in your deck, KAI doesn’t need it.
Your files are encrypted in your browser before they leave it, and only KAI, FundNow’s underwriting engine, can open them. No person at FundNow can open them either: the keys are locked to KAI, and every use of them is logged. KAI runs in Amazon Web Services in Ireland. Backers see KAI’s memo, never your files. KAI’s working copy is deleted within 45 days, and if we decline or you withdraw, everything is deleted within 30 days, apart from the application record, our memo and the decision with reasons. Details are in the privacy notice.
KAI screens your application within 24 hours of your first documents, any day of the week. If you are through, KAI checks every claim against your documents and the public record, including Companies House. KAI then makes the decision, with plain-language reasons, within ten days. A human can veto a yes before it reaches backers, for reasons outside KAI’s assessment such as sanctions, conflicts or platform rules, and every override is published in the record. The full promise, including when the clock pauses, is the SLA.
You get KAI’s reasons and feedback in plain language. KAI’s screen and decision are automatic, so you can reply within 14 days and a person at FundNow will review it. The reviewer sees KAI’s memo and reasons, never your files.
No calls, ever. KAI writes to each reference at their work address and asks them to confirm a few specific statements in writing. They have five days to reply. A reference who doesn’t reply is recorded as unconfirmed, and the decision is not delayed.
Every claim in your application: revenue against your payment and bank records, the company and its directors against Companies House, that the product exists, who signed which contract, and more. Memo #0 shows a full run on a fictional company, including two corrections KAI found.
Universities are our first channel. Spinouts, PhD founders, students and recent graduates are all welcome. Add your supervisor or technology transfer office to the references page in your data room.
FundNow leads the syndicate. Your round goes to FundNow’s private backers on a regulated investment platform, where they see KAI’s memo, never your files. Backers commit there, up to £200k in total, and the money reaches your company when the round completes.