Built with high-growth companies in mind, Zürich-based equity management platform Ledgy has raised $10 million in a Series A funding round. The startup automates a number of equity-related business processes, provides various financing rounds options, and manages investor relations. The new funding will be used to further enhance the product as well as continue expansion plans into new markets, both European and abroad.
Founded in 2017 Yoko Spirig, Ben-Elias Brandt, and Timo Horstschäfer, Ledgy was created to solve one simple problem: the problem of business. No easy feat for sure, but the trio holds fast to the belief that democratising a company’s ownership is its key to long-term success, and Ledgy is helping them do it.
As scale-ups establish new offices in new markets and new territories, bring new investors on board, roll out options, plan exit strategies, raise new funds, it all gets to be a bit much. Oh, and then there’s this thing called product development, that no matter how good a CEO you are if you’re a founder, you’re bound to want to roll up your sleeves from time to time.
Via a single source of truth and an intuitive dashboard, Ledgy automates a number of these processes and saves hours of tedious admin work. And clearly, the service is delivering on its promise, as Ledgy’s client list includes some of the biggest in the biz including wefox, Kry, Bitpanda, Trade Republic, Gorillas, and Pleo.
Since its founding, the startup has experienced almost entirely organic growth, operates with little to no churn, and within the last 12 months alone, seen revenues increase by 10x.
Marking its first partnership with a company based in Switzerland, Sequoia Capital led the Series A round. Visionaries Club and notable angel investors Xavier Niel, Harry Stebbings, Daniel Dines, and Mathilde Collin also participated. And last, but certainly not least, existing investors Myke Näf, Paul Sevinç, btov Partners, Creathor Ventures, and VI Partners all continued their support.
“Our ecosystem in Europe is flourishing, with startup activity and VC funding at an all time high, yet outside the US, there is a lack of infrastructure in equity management. Ledgy, the first platform to be geo- and jurisdiction agnostic, will play a key role in allowing European innovation to compete on a global level,” said Luciana Lixandru, Partner at Sequoia Capital. “We're incredibly excited to partner with Yoko and the Ledgy team on their vision, not only to build a new category within business software, but to fundamentally change the culture of company ownership.”