Ask HN: Investor signed SAFE but stalls on wiring the money
by yolo101010 on Hacker News.
Dear HN: An angel investor who came through an inbound intro signed a YC-standard template SAFE on favorable valuation with us where the expectation was the funds would be wired quickly. But after that the investor is stalling/deferring the wire by a couple of weeks, even as we go to raise at higher valuation from others. What are our options as a startup at this point if we don’t want to work with this investor ? The investor has a fully signed SAFE (after doing due diligence), but just hasn’t sent the funds. We have revoked that investor’s access to even see our wire details at this point because we don’t want to work with this investor if it can be avoided. So if this ‘investor’ is never able to actually send the funds in a far out future, what happens to that signed SAFE ? How does it get revoked or expire in the absence of funds being transferred ?