Plan for about 3–4 weeks of preparation and 8–12 weeks of active fundraising, plus 1–3 weeks to close. A US round on SAFEs closes in days once investors commit; a German round with a notarised capital increase takes longer. Rounds without a lead investor take the longest.
- Preparation: 3–4 weeks (deck, video, list, data room).
- Active outreach and meetings: 8–12 weeks.
- Closing: days for SAFEs, 1–3 weeks for German notarised rounds.
- A lead investor shortens everything after it commits.
- Start when you have 6+ months of runway left, not 2.
What does the timeline look like?
| Weeks | Stage | What happens |
|---|---|---|
| 1–4 | Prepare | Deck, 60-second video, data room, investor list of 50–150 |
| 5–6 | Test batch | 10–15 investors; refine the pitch from feedback |
| 7–12 | Main outreach | Waves of outreach; first and second meetings |
| 10–16 | Lead and commitments | Diligence, terms, follow-on investors |
| +1–3 | Close | SAFEs signed or notary appointment; funds received |
What makes rounds slow?
- No lead investor: everyone waits for someone else.
- Pitching the wrong stage. See pre-seed vs seed.
- Restructuring mid-round, for example a Delaware flip.
- German formalities: notary appointments and powers of attorney. See notary costs.
How do you speed it up?
Batch meetings into a few weeks to create momentum, prepare the data room before the first call, and send updates to everyone in the pipeline. Read the full process in how to raise a pre-seed round.
What does a German round add to the timeline?
A German round adds formal steps after investors commit. For a priced round in a GmbH, investors and founders agree an investment agreement and a shareholder agreement, the notary prepares the deeds, everyone signs (often through powers of attorney), the capital increase is filed and registered, and only then are new shares formally created. Each step is quick, but they run in sequence.
| Step | Typical duration |
|---|---|
| Term sheet to final documents | 1–3 weeks |
| Notary appointment and signing | Days to 2 weeks (powers of attorney, foreign investors) |
| Payment of the investment | Days after signing |
| Register entry of the capital increase | Days to a few weeks, depending on the court |
A convertible loan moves faster: it is usually signed without a notary, and the formalities follow later at conversion.
How do you keep momentum?
- Compress first meetings into two or three weeks, so feedback and interest arrive together.
- Set a target close date and share it with interested investors once you have a lead.
- Send short progress notes to everyone in the pipeline: new customers, shipped features, new commitments.
- Prepare documents in parallel: draft the SAFE or convertible loan while meetings continue.
When should you pause?
If you have met most of your list without a lead and the feedback repeats the same concern, pause and fix the concern. Re-running the same pitch for months burns time and reputation. Come back with new evidence and send an update to everyone you met.
Frequently asked questions
How long does it take to raise a pre-seed round?
Often three to four months including preparation, longer without a lead investor.
How long does it take to close a round after investors commit?
Days for US SAFEs; one to three weeks for German rounds requiring a notary.
When should I start fundraising?
With at least six months of runway left.
Why do fundraising rounds take longer than planned?
Usually because of slow preparation, no lead investor, or pitching to investors at the wrong stage.
Let investors find what you're building.
OBridge is an early-access discovery network for founders and investors. Post your build, share your progress, and let verified investors mark you Investable — a private, no-amount signal of interest, not an offer or a commitment.
Join the waitlist →Sources and further reading. Y Combinator Library; §55 GmbHG.
Educational material, not legal, tax or investment advice. Rules and figures change; confirm with qualified counsel or a tax adviser in your jurisdiction before acting. Last updated October 6, 2026.