Start-up-focused equity management platform Ledgy has secured $22 million in Series B funding as it looks to expand across Europe.
The round, led by New Enterprise Associates (NEA), saw participation from Sequoia Capital, Speedinvest, btov, Visionaries Club and VI Partners, as well as existing angel investors.
NEA partner Jonathan Golden will also join Ledgy’s board of directors. The Series B comes a year after a $10 million Series A, led by Sequoia, which saw Sequoia partner Luciana Lixandru join Ledgy’s board.
The Ledgy platform supports high-growth companies by enabling them to better understand their cap tables so they can successfully raise the funds they need while helping to retain talent by providing visibility and insight into what the equity ownership component of their remuneration packages means to them.
Ledgy says its platform boosts compliance and risk-reduction and increases transparency, tangibility and visibility in equity management, while automating labour-intensive tasks around employee contract creation.
The fintech intends to use the latest funding to embark on a hiring spree, boost its product and feature development and cement its presence in Europe.
Ledgy co-founder and CEO Yoko Spirig says the participation of US venture capital firms reflects a “significant trend” of US investors “increasing their exposure to the European continent by partnering with the best companies in what is a fast-growing and vibrant start-up ecosystem”.
Ledgy claims to serve more than 2,500 companies in over 45 countries, seen double digit monthly growth in the past year and grown to 65 employees with presence in London, Switzerland and Berlin.