KISS / SAFE
Standardised convertible instruments (originating in the US) used to raise quickly without setting a valuation.
SAFE (Simple Agreement for Future Equity) and KISS (Keep It Simple Security) are streamlined instruments that convert to equity at a future round. UK founders more often use ASAs for SEIS/EIS compatibility, but encounter SAFEs with international investors.
Examples
A US angel invests via a SAFE with a valuation cap. — A founder compares a SAFE against a UK ASA.
How it relates to The Startup Foundry
The Foundry helps UK founders pick the right instrument — often an SEIS/EIS-friendly ASA — for the investors in its network.