Your First 90 Days of Startup Finance
Written by Nirmala Murugesan
Curated by Rubric Financial
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Week 1-2: Legal and Banking Foundation
- Incorporate as a Delaware C-corporation. This is the standard structure for venture-backed startups and what investors and attorneys expect.
- Apply for your EIN (Employer Identification Number) with the IRS. You can do this online and receive it immediately.
- Open a business bank account at a startup-friendly bank (Mercury, SVB (now part of First Citizens), or Brex). Never use personal accounts for business transactions.
- Execute founder stock purchase agreements at par value and ensure all co-founders and early team members have signed IP assignment agreements.
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About the author
Nirmala MurugesanCA, CPAPartner, Accounting
CA and CPA with 20+ years across U.S. GAAP, IFRS, and cross-border entity accounting. Leads accounting and controllership at StartupCFO: clean close, audit-ready books, and multi-entity structures for venture-backed startups.
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