What Happens After you Click 'Invest'?
Easier than you think
Click invest, and it’s just three steps to make your first Play Money investment:
Complete a standard KYC process. This is the Know Your Customer process every financial institution requires.
Link your funding account via Plaid.
(Yay, no wire fees.)Enter your investment amount and click confirm twice.
Docs are auto-signed. Money is in motion. You’ll immediately see your new investment ‘pending’ on your portfolio page in Play Money and get a confirm statement in your email.
Hello Angel, you just funded the future! 🤑
Don’t Stop There
Take an extra minute to share why you invested. 30% of Play Money investors check out why others invested. Your insights and encouragement can help bring in other high-value angels to help your new portco (investor slang for portfolio company) succeed.
How the money moves
Funds won’t always be pulled from your account immediately. If there is a delay, we’ll give you at least 24 hours notice before we withdraw money to fund your investment.
All our back-office SPV management is via Sydecar and Plaid, trusted partners in this space. The withdrawal will show up on your bank account statement from Sydecar via Plaid.
Wait, what am I signing?
When you invest on Play Money you are investing through an SPV. The documents you sign are the SPV subscription agreements.
For folks who like to read all the details the first time through, our investment LLCs (SPVs are just LLCs) are filed under Clutch Capital (the Play Money investing LLC). Yellow Purse Capital Partners (the Play Money investing advisor entity) signs the SAFE Note with the company on behalf of the SPV. You can view the SAFE note on the deal memo.
After you invest, don’t expect an invite from Carta or Angel List or another cap table service like you would if you invested directly in the company. You own a share of the SPV. The SPV owns the startup shares. The SPV shows up on the cap table.