{"id":10541,"date":"2024-02-14T23:29:53","date_gmt":"2024-02-14T22:29:53","guid":{"rendered":"https:\/\/www.innowerft.com\/?p=10541"},"modified":"2026-08-10T00:52:55","modified_gmt":"2026-08-09T22:52:55","slug":"pre-money-valuation-valuation-basis-before-financing","status":"publish","type":"post","link":"https:\/\/www.innowerft.com\/en\/pre-money-bewertung-bewertungsgrundlage-vor-der-finanzierung\/","title":{"rendered":"What is a pre-money valuation?"},"content":{"rendered":"

The pre-money valuation refers to the value of a start-up\u00a0just before a new round of funding<\/strong>. The capital to be invested as part of this funding round is not yet included in this valuation.<\/p>\n

It serves as the basis for determining how many shares investors receive in return for their investment and the extent to which the shareholdings of existing shareholders change.<\/p>\n

The basic calculation is as follows:<\/p>\n

Pre-money valuation + investment amount = post-money valuation<\/strong><\/p>\n

One example:<\/p>\n\n\n\n\n\n\n\n
Key figure<\/strong><\/td>\nAmount<\/strong><\/td>\n<\/tr>\n
Pre-money valuation<\/td>\n\u20ac4 million<\/td>\n<\/tr>\n
New investment<\/td>\n\u20ac1 million<\/td>\n<\/tr>\n
Post-money valuation<\/td>\n\u20ac5 million<\/td>\n<\/tr>\n
The new investor\u2019s stake<\/td>\n20 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

In this example, the investors invest \u20ac1 million and receive 20 per cent of the company in return. Following the funding round, the existing shareholders together retain 80 per cent.<\/p>\n

The pre-money valuation therefore has a direct impact on:<\/p>\n

    \n
  • how many shares are issued for an investment<\/li>\n
  • to what extent the existing shares will be diluted<\/li>\n
  • what stake new investors will receive<\/li>\n
  • what the future ownership structure will look like<\/li>\n
  • what expectations are emerging regarding the start-up\u2019s future development<\/li>\n<\/ul>\n

    When determining a pre-money valuation, the following factors are often taken into account:<\/p>\n

      \n
    • Stage of development of the product<\/li>\n
    • Market size and growth<\/li>\n
    • Historical turnover and growth rates<\/li>\n
    • Number and quality of customers<\/li>\n
    • Technology and Intellectual Property<\/li>\n
    • Experience of the founding team<\/li>\n
    • Competitive situation<\/li>\n
    • comparable funding rounds<\/li>\n<\/ul>\n

      Young start-ups, in particular, often do not yet have stable turnover or profits. The valuation is therefore based not only on financial indicators, but also on future prospects, market potential, traction and the outcome of negotiations.<\/p>\n

      The highest possible pre-money valuation is not automatically advantageous. If the valuation is too low, founders may have to give up too many shares. If it is too high, it may prove difficult in subsequent funding rounds to achieve the expected growth or to justify a further increase in the valuation.<\/p>\n

      innoWerft helps start-up founders to develop their funding strategy, interpret relevant key figures and gain a better understanding of how different valuations affect equity stakes and the company\u2019s development.<\/p>","protected":false},"excerpt":{"rendered":"

      The pre-money valuation refers to the value of a company immediately before a new round of financing, based on its current status without taking into account the new investment funds.<\/p>","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","inline_featured_image":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[47],"tags":[],"class_list":["post-10541","post","type-post","status-publish","format-standard","hentry","category-glossareintrag"],"yoast_head":"\nWas ist eine Pre-Money-Bewertung? - innoWerft<\/title>\n<meta name=\"description\" content=\"Pre-Money-Bewertung: Wert eines Unternehmens vor einer neuen Finanzierungsrunde, ohne Ber\u00fccksichtigung der neuen Investitionsmittel.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.innowerft.com\/en\/pre-money-valuation-valuation-basis-before-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Was ist eine Pre-Money-Bewertung? 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