Equity Management Platform Ledgy Raises €1m for EU Growth
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Ledgy AG, a Swiss maker of software to manage private companies’ share sales and employee stock options, raised 1 million euros to expand in Europe.
Ledgy’s online-platform, which can model companies' phantom stock programs and employees' vesting schedules, will use the funding to expand into Germany, France and the U.K. The company, ranked one of Switzerland’s TOP 100 startups in 2018, won about 200 customers in its first year of incorporation.
Fragmentation of the software market means European startups are more likely to track their equity on spreadsheets, compared to U.S.-rivals using bespoke software to manage capital and employee options, the company says. This makes it difficult for founders in Europe to incentivize staff or model financing rounds with complex liquidation preferences.
"Companies in Europe give their employees ten times less shares than in the USA – which is also due to a lack of tools," Ledgy CEO Ben Brandt said.
The round's investors include b-to-v Partners AG, Creathor Venture Management GmbH and VI Partners AG, as well as Daniel Gutenberg, Luis Cabiedes, Paul Sevinç and Myke Naef, the Zurich-based company tweeted.
