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.