Before investors join is one of the better times to switch. Once institutional investors are on a platform, there are more moving parts to a migration. Moving before a priced round closes gives you a clean, verified cap table on Cake from day one. The migration takes 3 to 5 business days and your account goes live with every row confirmed.
Pre-seed and pre-priced-round is a window that founders often underestimate. Researching platforms before your first priced round means you go into the raise on the platform you actually want — not the one you inherited or defaulted to early on.
Once institutional investors are on a platform, there are more stakeholders involved in a migration. You may want investor awareness when changing record-keeping systems. The data migration covers more parties and more instrument types. None of this is a blocker — but it adds steps that do not exist before the round closes.
Starting on Cake before a priced round means your investors onboard to a clean, verified cap table from day one. They do not inherit a history on a different platform. For founders currently on spreadsheets, the case is even clearer — your incoming investors never have to see the spreadsheet.
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