# "What Exactly Am I Buying?" — Our SAFE, Explained | Metroair

- Canonical URL: https://wefunder.com/feed/374876
- Entity ID: wefunder:feed_item:374876
- Published at: 2026-08-26 06:45:22 UTC
- Updated at: 2026-08-26 06:45:24 UTC

## Author
Jisu Kim

## Subject
Metroair

## Content
Hi everyone,Since going live, we've heard one question more than any other: "What does a $12M cap with a 20% discount actually mean?"Fair question! If this is your first startup investment, here's everything you need to know , no finance degree required.What is a SAFE?SAFE stands for Simple Agreement for Future Equity. Instead of buying shares today, you're securing the right to receive shares later — typically when we raise a larger "priced round" from venture investors. It's the same instrument used by thousands of startups backed by Y Combinator, which created it.Think of it as a reserved seat: you claim your spot now, and your shares are issued when the company sets its next official price.What does the "valuation cap" mean?The cap is the maximum company valuation used to calculate your share price — no matter how high our valuation goes later.Here's the simple version: if we later raise at a $30M valuation, new investors pay the $30M price. But your shares convert as if the company were worth $12M (early bird) or $15M (standard). Same company, same shares — you just get roughly 2 to 2.5 times more of them for every dollar invested.And the "20% discount"?If the next round's valuation comes in below the cap, the discount kicks in instead: you get shares at 20% off whatever price the new investors pay. You automatically get whichever of the two — cap or discount — gives you the better deal. It's a built-in floor for early believers.Why the early bird mattersThe first $150K of confirmed investments locks in the $12M cap. After that, the standard $15M cap applies. Both come with the 20% discount — but that lower cap means meaningfully more shares per dollar when conversion happens.One reminder: early bird pricing is based on when your investment is confirmed, not reserved. If you reserved earlier, confirming now is the only way to count toward the $150K threshold.👉 Invest in MetroairThe honest fine printA SAFE converts when a trigger event happens — a priced equity round, an acquisition, or an IPO. Until then, you hold the agreement, not shares. And like any early-stage investment, this is high-risk: invest because you believe in where urban air mobility is going, and never more than you can afford to lose.Have questions? Drop them in the Ask a Question tab — we read and answer every single one.Let's build the next generation of transportation, together.