The short answer is yes!
To complete a funding round there are 4 approvals / processes you need to complete before issuing the equity:
1) You need to hold a shareholders meeting and the shareholders need to vote to approve the share issuance and sign a Shareholders Resolution.
2) You need to hold a board meeting and the Directors need to vote to approve the funding round and sign a Board Resolution.
3) You need to issue a preemption notice to your existing shareholders (or disapply their right of preemption in the shareholders meeting).
4) You need to get the consent of your investors (if you had Investor Majority Consent in your previous funding round).
If you use SeedLegals to put Instant Investment provisions in your funding round documents this will pre-get the authority from the Shareholders and the Investors so you don’t need a signed Shareholders Resolution and Investor Majority Consent notice. The provisions will also disapply preemption for the Instant Investment amount meaning you don’t need to send round a Preemption Notice.
So, adding the Instant Investment provisions allows you to take in additional investment quickly and easily and only needing the consent of the Directors (through a Board Resolution).
This doesn’t mean you can’t use the Instant Investment product if you don’t have the Instant Investment provisions in your funding round documents! You will just need to send round a Shareholders Resolution, Preemption Notice and Investor Majority Consent Notice before you take in the investment. And good news, all these documents can be created, shared and signed on the platform!