Synnada – SAFE Investment Success Story
Synnada, a Turkey-based software/gaming company, partnered with Manay CPA to grow in the U.S. market. Structured as a Delaware C-Corp with operations in Texas (TX), the company successfully raised $4,365,000 through SAFE investment instruments. At Manay CPA, we successfully managed the company’s corporate structuring in the U.S., all VC-side paperwork processes, and financial advisory services throughout the investment process.
Industry
Software / Gaming
Headquarters
Texas (TX), US
Founded
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Company Size
Growth Stage
Key Markets
Global
Growth Stage
SAFE Round
Website
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Table of Contents
About the Case
Synnada is a Turkish company operating in the software and gaming sectors. The company was structured as a Delaware C-Corp in the U.S., running its operations from the state of Texas. A total of $4,365,000 was raised using SAFE investment instruments.
Manay CPA played an active role in all financial processes, from corporate structuring to investment documentation. The tax advantages and business environment offered by the state of Texas were key factors in choosing it as the company’s operational headquarters.
Challanges
Synnada’s primary challenges included managing multi-state operations (Delaware C-Corp + Texas operations) and the associated tax compliance requirements. Comprehensive financial planning was needed to manage investor expectations during the SAFE investment process and successfully close the $4.3M funding round.
The dynamic nature of the software and gaming industry, IP protection requirements, and taxation of international revenue streams were also significant challenges.
Solutions
At Manay CPA, we handled the Delaware C-Corp formation for Synnada and established the operational structure in Texas. We prepared the SAFE investment documents, managed investor due diligence processes, and ensured the successful completion of the $4,365,000 investment.
We provided comprehensive advisory services in transfer pricing policies, optimization under the Turkey-U.S. tax treaty, R&D tax credit applications, and interstate tax compliance.
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