Mar 18, 2026 · 5 min read

How Co-Build works: equity without the cap table

Co-BuildPartnership

We started Co-Build for the founders we kept turning down. They had real ideas, validated audiences, full-time commitment — and no way to write an $80,000 check. The traditional answer is "come back when you raise." The other answer, the one most agencies offer when pressed, is to take equity. We don't love either.

Equity is a forever-stake in someone else's company. We don't want to be a passive cap-table line item for the next decade, and most early founders don't want us there either. So we built a third option: a revenue share contract with a defined start, a defined end, and a defined exit.

The mechanics are simple. We build the product at no up-front cost. When it earns revenue, we collect an agreed percentage — typically 15–30% — for an agreed window of 3–5 years. The product earns us nothing if the product earns the client nothing; we share the risk. Every contract has a buyout schedule with pre-agreed multiples, so a 10x outcome doesn't trap anyone in a relationship that's outgrown its usefulness.

Co-Build isn't a fit for every project — and we're picky on the front end, because we can't afford to be wrong often. But for the right team, it's the difference between shipping a real product and waiting another year for a fundraise that may not come. If that sounds like you, the pitch form is short.

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