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Swiss equity management platform Ledgy plans UK expansion, bags $10M funding

Ledgy

An equity management platform from Switzerland, Ledgy is built for the high-growth companies. The platform has now closed $10 million (nearly £7.3 million) in a Series A funding round to change the culture of equity and ownership.

To Expand into UK and Europe

The investment round in Ledgy was led by Sequoia Capital and marks the firm’s first partnership with a company in Switzerland. Also, Xavier Niel, Harry Stebbings, Visionaries Club, and several leading SaaS founders including UiPath’s Daniel Dines and Front’s Mathilde Collin participated in the round. It involved funds from existing investors Myke Näf, Paul Sevinç, btov Partners, Creathor Ventures and VI Partners. Besides this, Sequoia partner Luciana Lixandru joined Ledgy’s board. Previously, Ledgy raised a €1.2 million (nearly £1 million) seed round led by Swiss investor btov Partners.

Ledgy plans to use the funds to continue expanding into new markets within Europe and UK, build new features to support better workflow automations, solutions for public company administration, and enhanced fund and portfolio management capabilities. The company has hired its first Head of Talent and plans to more than double in size by the end of the calendar year.

Commenting on Ledgy’s fundraising, CEO Yoko Spirig said: “Startups today face extraordinary competition on multiple fronts, particularly when it comes to fundraising and hiring. We solve the fundamental problems in equity ownership, to position businesses for hypergrowth. But enabling scale is only part of the picture. Startups cannot deliver sustainable, long-term growth and build important companies without treating their employees fairly. The companies using Ledgy give their teams meaningful ownership and real transparency, enhancing their ability to attract talent and boosting retention. This funding round allows us to further expand our reach across the globe and continue building a first-in-class product to serve our international customer base.”

“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.”

Helps growing companies

Founded by Ben Brandt, Timo Horstschaefer and Yoko Spirig in 2017, Ledgy’s core belief is that the world’s biggest challenges will be solved by entrepreneurs. It is the first platform for company ownership that can be used for the benefit of companies and funds, from founding to IPO and beyond. Equity management unlocks significant value for founders, employees and investors. It resolves the painstaking logging of data in Excel that goes into raising funds, rolling out options and planning exits is time-consuming manual work tracking who owns what, with data painstakingly logged in Excel.

Ledgy is building software to automate the administration of a number of vital business processes such as expanding into new territories, establishing offices in new markets, and bringing new investors on board.

Some of Europe’s biggest scaleups, including ‘unicorns’ wefox, Kry, Bitpanda and Pleo, use Ledgy to close funding rounds, engage investors and empower employees. It is used by more than 1,500 businesses. While its growth is centred on Europe, customers around the world, from Indonesia to Israel, use Ledgy’s software.

Also, Ledgy offers VC and angel investors the ability to manage their portfolios of investments through a single hub and collaborate with companies on reporting and KPIs. Its monthly recurring revenue has increased 10x in the last 12 months, and it has witness 20 per cent month-on-month growth through the first quarter of 2021.