1. A company pulls in one portion, or ~tranche~, of the money they've raised while the round remains open.
*To qualify, a company must have at least their minimum offering amount in available funds (funds in escrow) to do so. If they launched their round without a lead investor or financials, we'll also need to first file a material amendment that formally adds those things to the raise. We then give investors 5 business days to reconfirm their investment or opt out of the tranche. If a company raises over $500K, they become eligible for a second rolling close.
If you're a founder looking to to initiate a rolling close, reach out to us (firstname.lastname@example.org) to confirm the status of your available funds. Please note it may take a few weeks to set everything in motion and receive your wire.