FAQ

What is Spring?

Spring is Streamflow's on-chain fundraising platform, where selected companies raise funds from verified investors. Every company is reviewed before its raise goes live, and every investor is verified. Each raise is backed by an on-chain escrow and a dedicated legal structure. The tokens issued through Spring carry the contractual rights set out in the raise's legal documents.

Who can invest on Spring?

Spring is open to verified investors globally. Investors from the US, UK, EU and Australia must also meet an investor status requirement: accredited investors in the US, certified high-net-worth or self-certified sophisticated investors in the UK, professional or qualified investors in the EU, and sophisticated or wholesale investors in Australia. The exact requirements depend on your location, investor type and the terms of the raise.

Who can raise money on Spring?

Spring works with early-stage companies raising their pre-seed or seed round. Each application is reviewed individually. We look at the company and team, market and traction, legal position, and the proposed valuation, terms and use of funds.

How do I receive tokens after investing?

If the company's raise succeeds and the legal setup is completed, equity-backed tokens are issued for your allocation. They are released to your wallet as they vest, once the 12-month lockup has ended. The vesting schedule and transfer restrictions are disclosed before you invest.

Can I sell or transfer my tokens?

Equity-backed tokens are subject to a 12-month lockup, during which they cannot be transferred. After that, they can be transferred only to other verified, eligible holders, subject to the terms of the raise and applicable legal restrictions. Equity-backed tokens are not listed on any exchange, and liquidity is not guaranteed.

What happens if a raise doesn't reach its goal?

If a raise doesn't reach its minimum by the deadline, it doesn't go ahead, and you can reclaim your committed funds.

I invested in a public stage but wasn't selected. What happens to my money?

After the public stage closes, the founder reviews commitments and confirms allocations. Any amount not included in your final allocation is returned to you.

Does Spring charge investors any fees?

Spring doesn't charge investors a platform fee. Any network or third-party transaction fees are shown before you confirm a transaction.

What fees do founders pay?

Fees are agreed individually with each company. Contact us to discuss.

What protection do I have as an investor?

Committed funds are held in an on-chain escrow and released to the company as a monthly allowance, which the company can claim only after posting its monthly update. If serious problems arise later, investors in a round can vote to reclaim the investment remaining in escrow. The company's shares are held by a dedicated cell of a segregated portfolio company (SPC), and under a deed poll token holders have an enforceable economic claim on the proceeds from those shares, together with protections such as IP protection (the company's intellectual property cannot be transferred out without the cell's consent) and the right to sell alongside founders.

How are investor funds held?

Committed funds are held in an on-chain escrow for each round, not in Spring's operating accounts. Funds leave escrow only as the round's terms allow: the monthly allowance, releases approved by investors, refunds and reclaims. Spring does not decide how escrowed funds are used. Its role is administrative.

Can US investors participate?

Yes, if you complete verification and qualify as an accredited investor. The number of US investors in a raise may be capped. The limit and eligibility requirements are disclosed in each raise's terms.

Are any countries restricted?

Spring follows applicable sanctions and eligibility requirements, so it can't serve people or businesses from restricted jurisdictions or on relevant sanctions lists. See Investor Eligibility for the current list.

Can I invest in more than one company on Spring?

Yes, as long as you meet the eligibility requirements and terms of each raise.

Can a company raise more than once?

Yes. Once a round closes, the company can apply to run another raise. Each later raise uses the same equity-backed token but has its own valuation, terms, escrow, vesting schedule and governance. Additional tokens are issued for the new shares that go to the company's cell. Founders can also apply to raise for a different company, which is treated as a separate listing with its own equity-backed token.