I am working with a Canadian startup. Our initial seed round of funding is used to pay for web development services in India, paid in USD. Our initial investors hold USD and would prefer to invest in same.
Is there a standard way to recognize investment in a currency other than the main currency of the company? When we begin operating our primary currency will be CAD.
I believe that the shares will be provided in line with the current exchange rate of USD to CAD. However, I wanted to float it with the community before I proceed.
Thanks very much all,