How Flock kept its equity exit-ready with Ledgy for a £109m acquisition

About Flock

Flock is a London-based insurtech that has evolved through several ambitious chapters of growth. The company began by analysing risk for commercial drone flights, before launching the world’s first pay-as-you-fly drone insurance product. It later expanded its technology into commercial fleet motor insurance, developing a real-time pricing engine that helps companies operate safer, more efficient fleets. 

Today, Flock supports a significant share of the UK’s Amazon delivery vans, alongside many other large commercial fleets. In June 2026, Admiral Group acquired Flock in a £109 million deal, marking a major milestone exactly 10 years after co-founders Ed Leon Klinger and Antton Peña founded the company. 

About Rakhee Gohil: People Partner and equity admin at Flock

Rakhee Gohil joined Flock as a People Partner around 18 months before the acquisition, taking ownership of the company’s people and talent function as well as day-to-day equity administration. As the company prepared for one of the biggest milestones in its history, Rakhee was responsible for keeping Flock’s cap table accurate and transaction-ready, working closely with Ledgy’s Customer Success team throughout the process. 

Challenge: Simplifying equity administration as the company scaled 

As Flock continued to grow, the team found that their previous equity management platform was no longer the right fit for their evolving needs. After managing its cap table on the platform for several years, they were looking for a solution that was better suited to a fast-growing company – one that was intuitive, straightforward to use, easy for both administrators and employees to navigate, and able to support the company’s next stage of growth.

Preparing for future corporate milestones also meant having complete confidence in their equity data. The team needed a platform that would simplify day-to-day administration while making it easy to maintain accurate records, generate reports, and support future due diligence, while giving employees an easy way to access their equity information and complete documentation.

Solution: An intuitive platform with dedicated customer support 

After evaluating several platforms and gathering recommendations from other founders, Flock chose Ledgy.

A smooth migration and onboarding 

For co-founder Ed Leon Klinger, the deciding factor was simplicity. The platform made it easy to understand what needed to be done and when, without unnecessary complexity.

Migrating years of equity data provided an opportunity to review historical records, organise documentation, and ensure the cap table was clean and accurate. Working closely with the Ledgy team helped make the migration straightforward and ensured everything was transferred with confidence.

When Rakhee joined the company, dedicated onboarding sessions, practical resources and ongoing support from Ledgy’s Strategic Customer Success Manager, Luke McGee, helped her quickly take ownership of equity administration. Within a short time, the team felt confident managing the platform independently.

For Rakhee, the experience went beyond the platform itself.

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Result: Equity management ready for an £109 million acquisition

As Flock prepared for its acquisition, managing equity remained straightforward. Rakhee found the platform easy to navigate, with a clear audit trail that made it simple to track changes and understand who had updated what. Even after quieter periods, it was easy to pick the platform back up without needing a refresher.

Employees also had a straightforward way to view their holdings, access documents, and complete paperwork. During the acquisition, this reduced routine queries to the People team by allowing employees to find the information they needed themselves.

Exit-ready when it mattered most 

As due diligence progressed, Ledgy's Advanced Services helped support transaction updates, documentation checks and data validation, reducing the administrative workload for Flock's people and finance teams. When larger updates were needed, bulk upload functionality helped the team process information efficiently while maintaining accurate records.

Rakhee generated financial and equity reports directly from the platform, while the well-maintained cap table and clear audit trail supported the due diligence process. This meant the team could focus on the acquisition itself rather than spending valuable time reconciling historical equity data.

On 1 June 2026, Admiral Group completed its £109 million acquisition of Flock, exactly 10 years after the company was founded.

Although Flock will transition to Admiral Group's internal systems as part of the integration, Rakhee and Ed would happily recommend Ledgy to other growing companies.

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