Pre-Money vs Post-Money Calculator
See exactly how a round's valuation, amount raised, and investor ownership relate — and what your stake is worth on paper. Free and private — nothing leaves your browser.
Pre-Money vs Post-Money
Startup valuation & ownership split.
How it works
Post-Money = Pre-Money + Amount Raised · Investor % = Amount / Post-MoneyPre-money is what the company is deemed worth before the new cash lands; post-money is that value plus the money itself. Investor ownership is always computed on post-money — which is why the distinction matters enormously in negotiation. '€2M at €8M' means 20% if the €8M is pre-money, but 25% if someone quietly meant post-money. The same three words, a five-point ownership swing.
Worked example
Raise €3M at a €12M pre-money valuation: post-money is €15M and the investor owns €3M ÷ €15M = 20%. A founder holding 50% before the round keeps 50% × 0.8 = 40%, worth €6M on paper. Had the €12M been post-money instead, the investor would own 25% and the founder 37.5% — always pin down which number is on the table before shaking hands.
Frequently asked questions
Which matters more, pre-money or post-money?→
They contain the same information once the raise amount is fixed, but ownership is calculated on post-money. Term sheets increasingly quote post-money precisely because it makes the investor's percentage unambiguous.
How does the option pool affect the math?→
Investors usually require the employee option pool to be created or topped up inside the pre-money — meaning it dilutes founders, not the new investor. A 10% pool carved from the pre-money can cost founders more than the round itself; model it explicitly.
What valuation should a startup raise at?→
The market answer: whatever credible investors will pay, typically anchored to traction multiples in your sector. Beware maximizing it — a too-high valuation sets a bar the next round must clear, and down rounds carry anti-dilution and signaling pain.
No black boxes — the exact formula is shown above · Last reviewed July 2026