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Funding

Seed Round Data Room Checklist for Startups in Oman and the GCC

A data room is the shared folder an investor opens during due diligence. Build it before the first term-sheet conversation, not after. A complete, well-labelled room shortens diligence, keeps the valuation conversation on your numbers and signals that the company is run with discipline. Use the eight folders below.

Written byAkram El-KarrarLinkedInFounder and Fractional CFO, CPAReviewed 3 min read

1. Company and legal

  • Commercial registration certificate and its current extract
  • Memorandum and articles of association, with every amendment
  • Shareholder register and board resolutions
  • Riyada card, licences and permits that apply to your activity
  • Any shareholder or founder agreements

2. Cap table and past funding

  • Fully diluted cap table: founders, option pool, SAFEs or convertible notes, and every past round
  • Signed copies of all SAFEs, notes and share subscription agreements
  • Option pool rules and grants made
  • A pro-forma cap table showing the round you are raising

3. Financials

  • Monthly management accounts since incorporation, reconciled to the bank
  • Audited financial statements, if you have them
  • Current-year budget against actual
  • 13-week cash forecast and runway in months
  • Driver-based financial model for 24 to 36 months, with assumptions on one sheet
  • Use-of-funds plan tied to the milestones the round pays for

4. Tax

  • Tax card and corporate income tax returns filed
  • VAT registration certificate and VAT returns, if registered
  • Any correspondence or assessments from the Tax Authority

5. Customers and revenue

  • Top customer contracts and their renewal dates
  • Revenue by customer, product and month
  • Unit economics: gross margin, CAC, payback and churn, with the calculation shown
  • Pipeline with stage and expected close date

6. Team

  • Organisation chart and headcount plan
  • Employment contracts for founders and key staff
  • Payroll summary, Omanisation position and social insurance registrations
  • Any consultant or contractor agreements

7. Product and IP

  • Trademark registrations and domain ownership
  • IP assignment from founders, staff and contractors to the company
  • Product roadmap and key technical documents
  • Main software and data-processing agreements

8. Risks and disputes

  • Any litigation, claims or disputes, open or threatened
  • Loans, guarantees and security given
  • Related-party transactions

Write one line on each item even when the answer is none. A clear 'none' saves a round of questions.

How to run the room

  • Name files the same way: folder number, document, date (for example 3.2 Management accounts 2026-09)
  • Give view-only access and track who opens what
  • Keep one index sheet with every document, its date and owner
  • Update the financial folder monthly while you raise

We build the financial folder, the model and the use-of-funds plan, and sit with you through diligence questions. Book a free discovery call.

Frequently asked questions

What goes in a seed round data room?

Eight folders: company and legal, cap table and past funding, financials, tax, customers and revenue, team, product and IP, and risks and disputes.

When should a startup build its data room?

Before the first term-sheet conversation. Investors move faster when the documents are ready and labelled.

Which financial documents do seed investors ask for?

Monthly management accounts, audited statements if any, budget against actual, a 13-week cash forecast, a 24 to 36-month model and a use-of-funds plan.

Do I need audited accounts to raise a seed round?

Not always. Reconciled monthly management accounts and a clear model often carry a seed round; check what your investor and your company's legal form require.

Want this set up for your startup?

Book a free discovery call. We review your numbers and agree what to fix first, with no cost and no obligation.

Book a free callFree templates

Written by Akram El-Karrar, CPA, from the work we do for startups every week.

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FAQ

What goes in a seed round data room?
Eight folders: company and legal, cap table and past funding, financials, tax, customers and revenue, team, product and IP, and risks and disputes.
When should a startup build its data room?
Before the first term-sheet conversation. Investors move faster when the documents are ready and labelled.
Which financial documents do seed investors ask for?
Monthly management accounts, audited statements if any, budget against actual, a 13-week cash forecast, a 24 to 36-month model and a use-of-funds plan.
Do I need audited accounts to raise a seed round?
Not always. Reconciled monthly management accounts and a clear model often carry a seed round; check what your investor and your company's legal form require.