London-based fintech startup Capdesk raises £5M Series A extension to help startups manage their cap tables and issue employee equity options
Capdesk, a London, England-based equity management fintech startup has raised £5 million in Series A extension, led by Fidelity International Strategic Ventures and MiddleGame Ventures, the early-stage fintech venture firm. Capdesk enables privately-owned companies to manage their equity digitally via a single platform.
The Series A extension will position Capdesk to build a fully integrated ‘seed to post-IPO’ equity solution for a traditionally underserved space in Europe. This entails extending its market offering to established private and publicly listed companies while enhancing services for its existing customer base, and ensuring all stakeholders are empowered to meaningfully leverage their equity. The new funding follows an initial raise of £3 million in 2020, led by Fuel Ventures, and brings the Series A total to £8 million. Since its inception, Capdesk has raised a total of £11.7 million in funding.
Founded in 2015 by Casper Arbøll, Christian Gabriel, Martin Damhus, and Mikkel Boje, Capdesk helps fast-growing startups manage their cap tables and issue employee equity options, and allows individuals to cash in employee equity through a secondary market for shares in private companies. Capdesk’s growth is great news for Europe’s tech talent, who typically receive less equity than their US counterparts, and must wait years for an IPO or acquisition to liquidate their shares. Its platform is used by hundreds of Europe’s fast-growth businesses as its clients, including Gousto, Secret Escapes, Privitar, Voi Technology, and Billie.
To date, Capdesk has over £20 billion under management and works with hundreds of Europe’s fastest-growing businesses – including Gousto, Secret Escapes, Curve, Nutmeg, and Voi Technology. CEO & founder Christian Gabriel has big plans to expand further across the continent, extend Capdesk’s product offering and increase headcount (which doubled in 2020). Its closest competitor is U.S.-based startup Carta, recently valued at $6.9bn – and the Capdesk team hopes to find the same success in Europe.
Commenting on the funding, Christian Gabriel, CEO and Co-Founder, Capdesk said, “Today’s announcement makes Capdesk the best-funded equity management solution in Europe. More importantly, it combines the fintech expertise and capital support from MiddleGame Ventures and Fidelity, paving the way for Capdesk to build an equity solution never before seen in Europe. With this investment, we can take a significant leap forward in our journey to create a European-wide digital ecosystem that allows for the safe, secure, and fair transaction of equity.”
Alokik Advani, Managing Partner, Fidelity International Strategic Ventures: “Capdesk has positioned itself as a leader in digital equity management. We’ve been watching the company’s growth closely and have been impressed with its digital capabilities for cap table and employee stock option plan management. We look forward to supporting Capdesk’s ambitious growth plans and leveraging potential partnership opportunities with Fidelity.”
Michael Meyer, Managing Partner, MiddleGame Ventures: “We are thrilled to be backing the best equity management platform and team in Europe. Capdesk has the product, vision, and dedication to customer service that will enable them to accelerate their market leadership.”