The platform's features

Model all mechanisms

Easily integrate all the specific terms of each mechanism (warrant, ratchet, carried…) into your waterfall. Build your model and create scenarios in just a few clicks.

The exact memory of liquidation preferences, without reopening the agreement

Liquidation preference, cap, trigger threshold: our model keeps the economic translation of every clause, up to date and queryable at any time, with a dated timeline of every capital transaction.

Lawyers no longer have to reread the agreement each time the founder asks a question. No more wasted time.

Key events by equity value

The split of the exit price is not linear: it crosses thresholds. Capwise automatically places on the valuation scale the point at which each instrument comes into the money, converts or drops out.

A million is not always worth the same! The lawyer anticipates who will support the deal, and who will want to delay it.

An auditable sensitivity matrix

Over the range and step of your choice: price per share, gain and performance of each share class, exportable to Excel. A model built by hand is fragile; one built by a generative AI is opaque.

The founder gets stable figures to negotiate with; the lawyer, an auditable exhibit for the documentation.

Reverse calculation: at what value should I sell?

In a negotiation, the question is rarely "what is the share worth" but "at what price must we exit to reach a 3x multiple or a 15% IRR". Capwise inverts the calculation and returns the required equity value.

The founder negotiates from a target, not from a price assumption. No more uncertainty.

Which termsheet is best for me?

At the same pre-money, two termsheets can produce very different outcomes. Capwise builds a shadow cap table for each offer the day after the round, and compares them side by side over the exit range you consider realistic. No more hesitation.

Conversion options of your BSA Air

Several BSA Air with different caps, floors and discounts: change the next round valuation and instantly see which mechanism applies, how many shares each one generates and what the cap table becomes.

The founder manages dilution before negotiating, instead of discovering it at closing. No more approximate dilution.

An investor's composite position

A fund rarely invests in one go: seed, Series A, a follow-on, each in a different share class. Capwise consolidates its position across all rounds and shows whether it reaches its multiple or IRR target.

That is what tells you whether the fund will push for an exit. No more uncertain alliances.

Who gets what at exit?

At exit, "who gets what" becomes sensitive, and it is precisely then that it is hardest to demonstrate. Capwise shows the waterfall execution for a given equity value, step by step, with the exact split between each party.

Full traceability that secures the closing and reduces the risk of later disputes.

Never miss a step of the funds flow

BSPCE and BSA exercises, preferred share conversion, repayment of shareholder loans and debt, fees, liquidation preferences, then distribution of the price: Capwise orders every step, and total outflows match the price paid exactly.

Every manager knows, to the euro, what they need to pay to exercise their BSPCE. Follow the closing step by step.

Share what you want, with whom you want

Share an analysis by choosing exactly what is visible, and to whom: everyone works on the same calculations, without seeing beyond what concerns them. Keep the terms of side agreements and cash-out operations confidential. What matters, nothing more.

Detect the side effects of a simulation

Discrepancies often arise between what was agreed verbally, what was written, and the final Excel simulation. Ensure your simulations are consistent and be fully equipped to lead negotiations.

The super-intelligent agent

"What does each founder get if we sell for 40 million?" The Capwise AI agent understands the question in plain language. It calculates nothing: it translates it into Capwise instructions, and every calculation is performed by the Capwise engine, fully auditable.

The founder explores their situation at the pace of their questions; the lawyer gets amounts they can justify.