Convertible debt is a popular early-stage startup financing instrument that allows investors to lend money to a company with the option to convert the loan into equity at a later funding round. Commonly used in seed and pre-seed stages, convertible debt typically includes key terms such as valuation caps, discount rates, and interest. At Angel School, we break down how convertible deb... https://www.angelschool.vc/blog/convertible-debt-meaning-types-examples-explained