Startup equity calculator
See what your shares or options are worth at the last round price, and what a buyer would likely pay for them today.
What your stake is worth
- Paper value at the last round
- €60,000
- Likely price in a sale today
- €24,000 – €36,000
- Discount to the last round
- 40–60%
Virtual shares usually cannot be sold. The range shows what the payout could be worth at the last round price, discounted the same way.
| Ordinary (common) shares | +30 pts |
|---|---|
| Pre-seed or seed | +15 pts |
| Last round 12–24 months ago | +5 pts |
| Roughly on plan | 0 pts |
The range is the total ±10 points. These are our working assumptions, explained below, not a valuation.
How the estimate works
Paper value is your stake times the post-money valuation of the last round. A €12M post-money and a 0.5% stake gives €60,000. Nobody pays that by default, so the calculator applies a discount built from four parts:
| Factor | Points added |
|---|---|
| Share class | preferred 10, ordinary or options 30 |
| Stage | seed 15, Series A 5, Series B+ 0 |
| Age of the last round | under 12 months 0, 12–24 months 5, over 24 months 15 |
| Progress since | ahead -10, on plan 0, behind +20 |
The numbers come from public secondary-market data and from what we see in deals. Late-stage names have traded close to their last round in 2026, around 8% below on average according to EquityZen data. Ordinary shares and options in younger companies sell for much less: guides on secondary sales put typical discounts at 20–40% for common stock. Seed-stage stakes have few buyers, and a round priced more than two years ago tells a buyer little about today.
Paper value vs what a buyer pays
A buyer of your stake takes on your risk without the protections the last investors negotiated. They also wait years for an exit. The discount pays for both. If the company is growing fast and investors are queueing for the next round, the gap closes, and some stakes sell at the last price or above.
Ordinary shares, options and VSOPs
Founders and employees usually hold ordinary shares or options. Ordinary shares sit behind the preferred shares' liquidation preference, so they are worth less per percent. Options also cost you the exercise price, and many plans restrict transfers. German and Austrian startups often grant virtual shares (VSOPs), which pay out in cash at an exit and usually cannot be sold before.
Selling your stake
Read your shareholder agreement first: most give the company or existing investors a right of first refusal and require board consent. Our guide on how to sell startup shares in Europe walks through the steps. AVA Ventures buys stakes of $25k–500k in European tech companies at any stage.
Frequently asked questions
What is my startup equity worth?
On paper, your percentage of the company times the post-money valuation of the last round. In a sale today, a buyer usually pays less: common shares and options trade below the preferred price investors paid, and early-stage stakes are hard to sell.
Why is common stock worth less than preferred?
Investors' preferred shares carry a liquidation preference: they get their money back first in a sale. Ordinary shares and options sit behind them, so a buyer pays less for the same percentage.
How are options valued?
The calculator subtracts your total exercise cost from the value. A buyer of options usually needs you to exercise first, or buys through a forward contract, and some option plans forbid any transfer.
Can I sell virtual shares (VSOP)?
Usually not. A VSOP is a promise from the company to pay out at an exit, so there are no shares to transfer. The calculator shows their paper value only.
How accurate is the estimate?
It is a range built from stated assumptions, not a valuation. Two things move a real price most: how well the company is doing and how many buyers want in. A recent priced round in a fast-growing company can trade at or above the last price.
Want to sell your shares?
Tell us about the company and your stake. We buy shares and vested options from founders, employees and early investors.
Every seller gets a reply within a week.
Sell your shares