synnadaaiXmanay

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.

Synnadaduo
Synnada Big

Industry

Software / Gaming

Headquarters

Texas (TX), US

Founded

-

Company Size

Growth Stage

Key Markets

Global

Growth Stage

SAFE Round

Website

-

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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circlegamesXmanay

Circle Games – SAFE Investment Success Story

Circle Games, a Turkey-based gaming company, partnered with Manay CPA to grow in the U.S. market. Structured as a Delaware C-Corp with operations in Georgia (GA), the company successfully raised $6,962,644.86 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.

Circlelast
Circlewebsite

Industry

Gaming

Headquarters

Georgia (GA), US

Founded

-

Company Size

Growth Stage

Key Markets

Global

Growth Stage

SAFE Round

Website

-

Table of Contents
About the Case

Circle Games is a Turkish gaming company that was structured as a Delaware C-Corp in the U.S., running its operations from the state of Georgia. A total of $6,962,644.86 was raised using SAFE (Simple Agreement for Future Equity) investment instruments.

Manay CPA played an active role in all financial processes, from the company’s corporate structuring to investment documentation. The preparation of SAFE agreements, investor relations, and compliance process management were all successfully completed.

Challanges

Circle Games’ main challenge was properly managing the complex structure of SAFE investment instruments. Standardizing SAFE agreements from different investors and optimizing valuation caps and discount rates required meticulous attention.

Additionally, aligning the operational structure in Georgia with the Delaware C-Corp, managing interstate tax compliance, and handling multi-investor relations were significant challenges.

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Solutions

At Manay CPA, we managed the entire SAFE investment process for Circle Games. Each SAFE agreement was prepared, investor onboarding processes were handled, and the total investment of $6.9M was successfully secured.

We completed all processes including Delaware C-Corp formation, Georgia registered agent and nexus requirements, investor-facing financial reporting, and cap table management.

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pineXmanay

Pine Games – Equity Investment Success Story​

Pine Games, a Turkey-based gaming company, partnered with Manay CPA to grow in the U.S. market. Structured as a Delaware C-Corp, the company successfully raised $2,249,996 through equity investment from venture capitalists. 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.

pineLast
pineBig

Industry

Gaming

Headquarters

Delaware, US

Founded

-

Company Size

Growth Stage

Key Markets

Global

Growth Stage

Equity Round

Website

-

Table of Contents
About the Case

Pine Games is a successful Turkish gaming company that was structured as a Delaware C-Corp in the U.S. and received equity-based investment from venture capital investors. A total of $2,249,996 in equity investment was successfully completed.

Manay CPA provided comprehensive financial advisory services from corporate structuring in the U.S. through all stages of the equity investment process. The detailed valuation work, share purchase agreement preparation, and investor rights arrangements required by equity-based investment were meticulously managed.

Challanges

Pine Games’ primary challenges included the complex legal structure of the equity investment process. Equity-based investments required detailed negotiation and documentation around valuation, share class structuring, and investor rights (pro-rata, anti-dilution, board seats).

Additionally, optimal tax structuring under the Turkey-U.S. double taxation treaty, cap table management, and establishing corporate governance standards were significant challenges.

Viking
Solutions

At Manay CPA, we handled the Delaware C-Corp formation for Pine Games. We conducted comprehensive valuation work for the equity investment process and prepared the share purchase agreement and shareholders agreement documents.

We played an active role as financial advisors in negotiations with VCs and ensured the successful closing of the $2,249,996 equity investment. We provided ongoing support in 409A valuation, tax compliance, financial reporting, and corporate governance.

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Talemonster Manay Logo2

Talemonster's Series A Investment Success Story

Talemonster, a Turkey-based gaming company, partnered with Manay CPA to enter the U.S. market and secure large-scale investment. Structured as a Delaware C-Corp, the company successfully raised $30 million in its Series A funding round. 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.

Talemonster
Telemonster Header

Industry

Gaming

Headquarters

Delaware, US

Founded

-

Company Size

Growth Stage

Key Markets

Global

Growth Stage

Series A

Website

talemonster.com

Table of Contents
About the Case

Talemonster is a Turkey-based gaming company that partnered with Manay CPA with the goal of expanding into the U.S. market and raising large-scale funding from international investors. The company was incorporated as a Delaware C-Corp, professionally managing its U.S. operations and investment processes.

Having successfully raised a total of $30 million in its Series A funding round, Talemonster achieved significant growth momentum in the gaming industry. Manay CPA played an active role throughout this process, from corporate structuring to VC meetings, across all financial and legal matters.

Challenges

The biggest challenge Talemonster faced was establishing the proper corporate structure as a Turkey-based gaming company under a U.S. C-Corp framework. It was essential to build financial reporting, tax compliance, and corporate governance processes that met international investor expectations.

Additionally, managing the comprehensive due diligence processes required during Series A VC negotiations, along with SAFE and equity documentation and cap table management, were critical financial needs.

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Solutions

At Manay CPA, we provided Talemonster with a comprehensive solution package. We first established the Delaware C-Corp structure, building the company’s legal infrastructure in the U.S. We then prepared all necessary paperwork for the Series A round: term sheet preparation, financial statements for investor presentations, due diligence files, and cap table management.

By managing all VC-side processes, we ensured the company successfully secured its $30 million investment. We also provided ongoing advisory services in tax planning, transfer pricing, and international tax compliance.

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