The Seedsummit Advance Subscription Agreement (ASA) allows an investor to provide funds to a company in exchange for equity that will be issued at a future event, such as the company’s next funding round, sale, or listing, without requiring immediate repayment or interest. It is useful because it enables early-stage companies to raise capital before a formal valuation is established, while providing investors with clear rights, protections, and the ability to convert their investment into equity under agreed terms.