KISS (Keep It Simple Security) is 500 Startups’ open-source seed-financing template, published in 2014 as an alternative to Y Combinator’s SAFE. Two variants exist:
- KISS: Debt: with maturity (typically 18 months) and ~5% interest. Converts to equity at qualified financing or matures into stock at a defined valuation. Closer to a traditional convertible note.
- KISS: Equity: no maturity, no interest. Converts at the next qualified financing or change-of-control event. SAFE-like in mechanics.
Both variants include standard pro-rata participation rights and are designed for the Delaware C-Corp structure. They are not directly usable in Turkish entities (Limited Şirket / Anonim Şirket) due to Turkish Commercial Code incompatibility: jurisdiction-specific adaptations are required.
See the full templates, repository link, and Vircon Legal’s reference notes on the KISS Documents reference page.
Newer related concepts: SAFE Post-Money.
Where KISS instruments fit
The KISS occupies the same niche as the SAFE: standardised, founder-light early money: with the meaningful differences living in the details: KISS documents historically include a maturity date and an interest-bearing debt variant, an equity variant without interest, broader investor rights (MFN, participation) and conversion at maturity into a defined preferred. Choosing between KISS, SAFE and a convertible note is therefore not branding but term selection: does the instrument mature, does it accrue interest, what happens if no qualified financing arrives. For Turkish founders raising on KISS documents through US holdcos, the instrument is straightforward; replicating it under Turkish law requires the same care as any convertible: the conversion mechanics must be mapped to capital-increase procedure before signature, not at conversion.
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