Hayot Expertise
Chartered Accountant
Valuation, liquidation preference, anti-dilution, vesting, option pool, board, drag-along, tag-along: a complete guide to the 12 critical clauses of a fundraising term sheet, with 2026 negotiation ranges.
Compare Lucca, PayFit and Silae for French payroll and HR: DSN, collective agreements, variables, HR workflows and accountant control.
How to use Notion or Coda for internal finance operations without creating parallel accounting: close checklists, workflows, controls and data limits.
Compare Stripe, Adyen and Mollie for e-commerce in France: payments, accounting reconciliation, VAT, refunds, fees, disputes and reporting.
Compare ChatGPT Enterprise, Microsoft Copilot and Mistral for finance teams: use cases, sensitive data, governance, AI Act, security and ROI.
Dext, formerly Receipt Bank, or Yooz? Compare invoice OCR, supplier document capture, approval workflows, accounting exports and AP automation.
Preparing a professional data room 90 days before the round shortens closing by 4 to 6 weeks and avoids downward renegotiation. Complete checklist, organisation, common traps and metrics to model.
Berkus, scorecard, VC method, DCF, ARR multiple: the five methods French and European VCs actually use in 2026 to value your startup, and how to build a defensible price ahead of a term sheet.
Full ratchet, weighted average, 1× or 2× liquidation preference, participating preferred: an operational decoding of term sheet economic clauses for founders negotiating a 2026 fundraising round.
How to structure a startup board that creates value rather than quarterly theatre: cadence, standard agenda, investor KPIs, board pack template and 2026 governance rules.
Vesting, leaver clauses, share buyback, investor communication: an operational protocol to manage a cofounder's departure while limiting legal, tax and human risks.
Arbitrating between pre-seed and seed: tickets, cumulative dilution, 18-month runway, milestones. An operational framework to decide the right ticket to raise in 2026.
At the board, a SaaS founder doesn't need 40 KPIs. They need 7. Here's how to build a board pack that aligns CEO, CFO and investors around the right decisions in 2026.
Selling 20% or 40% of your share capital while remaining at the helm is sophisticated. Done badly, it dilutes the founder's authority or triggers heavy taxation. Here is the method to structure a partial sale that preserves control.
From Series B onwards, some funds accept buying part of the founder's shares. Well sized, founder secondary secures wealth without breaking alignment. Poorly sized, it sends a negative signal and triggers heavy taxation.
French CIR/CII 2026 guide for startups and SMEs: rates, innovation tax credit, collaborative research credit, 2069-A-SD and audit file.
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