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2 min read

How to get SEIS funding for your startup

How to get SEIS funding for your startup
How to get SEIS funding for your startup
2:50

Last updated: 23 April 2024.

Are you looking for a cash injection for your startup? The Seed Enterprise Investment Scheme (SEIS) could be for you. 

What is SEIS? 

SEIS is a government-backed initiative that encourages investment in early-stage companies and startups by providing attractive tax reliefs for investors.

Billions of pounds have been raised since SEIS was unveiled in 2012 which has helped countless businesses get the funding they need to grow and develop. 

Who is eligible for SEIS funding?

As of April 2023, to be eligible for SEIS funding your company must: 

  • Be less than three years old
  • Have fewer than 25 full-time employees
  • Have less than £350,000 in gross assets

Of course, there are further conditions your company must meet to be eligible for the scheme, and some trades are excluded. There are also rules for investors to maintain their tax benefits too. 

How do I apply for SEIS funding?

While advance assurance isn’t mandatory, we highly recommend applying for it before selling shares to investors.

Think of advance assurance as your first step to getting SEIS funding for your startup.

Many investors also require advance assurance before parting with their cash, so they know the company they’re backing is eligible and they can claim their tax benefits.

To apply for SEIS/EIS advance assurance, sign up to Vestd. Our guided workflow simplifies the whole process. Or you can apply via HMRC's website.

But before you do that, download our free SEIS/EIS guide. It contains a checklist, the criteria and everything you need to know to increase your chances of a successful application.

If your advance assurance application is successful, you can then apply for SEIS or EIS with complete confidence.

When the time comes, among other things, HMRC will need:

  • Your business plan 
  • Details of any previous investment from venture capital schemes
  • Financial forecasts

Where do I find SEIS investors?

If you're on the hunt for a new investor, check out our top tips for finding SEIS investors. It's worth knowing that, excluding employees, almost anybody can invest under SEIS, including certain family members and even directors (but there are a few rules to follow).

Take your first steps with Vestd

This has been a super quick look at how to get SEIS funding for your startup! Grab your copy of our free SEIS/EIS guide for an in-depth view.

Hop on a free call with an equity specialist to talk about advance assurance and all the other ways Vestd can help set your startup up for success.

Meet with Vestd

SEIS/EIS advance assurance is free for customers on our Guided plan, or £350 + VAT for customers on all our other plans. If you're already a Vestd customer, you can find SEIS/EIS in the app navigation.

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