FinTech Capdesk has been snapped up by Silicon Valley equity unicorn Carta.
Founded in 2015, London-based Capdesk is trusted by over 3,500 of Europe’s fastest-growing companies – including Gousto, VOI, Checkout.com, Plum Guide and Wagestream – to manage their ownership via a single platform.
The FinTech oversees more than £90 billion worth of assets and has created an end-to-end equity management system that serves customers at every stage – from seed to IPO.
Carta provides equity management to more than 30,000 companies, 5,000 funds and half a million employees. It supports users with cap tables, compensation, valuations, portfolio investments and liquidity.
It has managed over £1.5 trillion in equity to date. Companies and funds like Canva, Tribe, and Pipe build their businesses on Carta.
Over time, the acquisition will see Capdesk customers gain access to products and services from Carta, including valuations and compensation benchmarking data. Carta, meanwhile, will leverage Capdesk’s expertise, dominance and unique understanding of equity in European markets, to further expand its services across the globe.
Capdesk’s platform caters to the requirements of HMRC and Companies House in the UK as well as other regulatory authorities throughout Europe.
Despite wider market turbulence, Capdesk has seen the continued growth and success of its product in Europe, doubling revenue in the last 12 months and counting 19 European unicorns as customers.
The company has raised £11.7 million in funding from global investors including Fidelity International Strategic Ventures and was in discussion with financial institutions and European exchanges regarding Series B fundraising when it entered talks with Carta.
As part of the deal, Capdesk will operate as an independent business unit within Carta for the time being.
“We founded Capdesk with a vision of changing finance for good by leveraging the power of equity for the benefit of founders, investors and employees alike,” said Christian Gabriel, co-founder & CEO at Capdesk.
“I’m thrilled we’ve identified a shared vision in Carta. This deal will enable us to further strengthen our position across Europe.”
Henry Ward, Co-Founder & CEO, Carta: “We’ve been following Capdesk’s impressive journey for years. Before Capdesk, employers would have had to manage equity manually with legal counsel in each country.
“With Capdesk, employers can simply onboard and trust one single provider with managing the detailed requirements of multiple jurisdictions. Capdesk’s founders have led a cross-border equity revolution.
“We’re thrilled to be welcoming their vision, expertise and experience to the Carta fold and we’re grateful to have all three founders stay on as key leaders within the company.”