How Neural Concept built a Series C-ready cap table in 4 weeks

About Neural Concept

Neural Concept builds the intelligence layer for engineering, enabling companies to design and develop complex, high-performance products faster and more efficiently. 

Its AI-native platform embeds physics-aware intelligence directly into design and simulation workflows, allowing engineers to move beyond isolated and manual iteration toward continuous, data-driven and AI-augmented decision-making. 

Founded by world-class AI researchers, Neural Concept supports product development across industries, including automotive, aerospace, energy, consumer electronics, semiconductors and defense, working with leading global OEMs and engineering organizations. Headquartered in Switzerland, the company has a growing global presence across Europe, the US and the Asia-Pacific region and is backed by global investors, including Goldman Sachs, Forestay Capital and D. E. Shaw Group. 

About Deniz

Deniz Onmus is Neural Concept's Group Finance and Transformation Manager. He owns financial operations and financial reporting for the business, with cap table accuracy and ESOP administration sitting firmly on his desk. With institutional investors, founders, and a growing employee base all relying on the same data, keeping the cap table current is core to his role.

Setting up for scale

As Neural Concept grew its team across multiple geographies and prepared for its Series C, Deniz wanted equity infrastructure that matched the company’s stage. The cap table involved a Swiss-specific founder pool structure, institutional investors across jurisdictions, and a growing employee base on plans, all of which needed a platform built for that level of complexity from day one.

The detour

The first platform Neural Concept selected was a global cap table provider with international reach. The team began onboarding, viewing it as the safe choice given the platform's market presence.

However, issues quickly surfaced. Neural Concept's cap table includes a founder pool with non-dilutive equity, where ESOP grants come from the founders' own pool rather than newly issued shares. It's a classic Swiss legal and tax setup, and it wasn't a structure the platform could support natively. 

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After two months, Neural Concept paused the onboarding and began evaluating alternatives that supported its structure from day one.

Why they chose Ledgy

The team evaluated European alternatives. Ledgy stood out immediately for being Swiss-based and trusted by leading European companies.

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In the first sales call, Deniz asked Gregory, his Ledgy sales rep, to prove on the spot that the platform could handle non-dilutive founder pools. Gregory showed him live, "and it was actually a really basic functionality of Ledgy."

The product itself sealed it. Both the admin and employee portals were, in Deniz's words, much more user-friendly than what they had seen on the competitor tool. 

A four-week implementation

Implementation started in January 2026, with Sarah as Neural Concept's dedicated onboarding manager. Deniz set the brief simply: four weeks, cannot fail.

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The platform was live and ready when the Series C round closed.

How Neural Concept uses Ledgy today

Ledgy is now Neural Concept's single source of truth for everything cap table related: fully diluted and non-fully diluted views, all grants, vesting schedules, and option holders, in one place.

The day-to-day relief is felt across the company. HR no longer drafts grant agreements one by one or chases signatures manually, they prepare a grant and send for signature in a few clicks. When an investor asks for a current shareholding view, Deniz exports it from Ledgy instead of hunting through spreadsheets. When founders look at the numbers, they don't have to ask whether the data is up to date.

The HRIS integration is Deniz's favourite feature. "We use a dedicated HR software, and having that connection means we don't have to add employees in Ledgy manually, with the risk of mistakes that come with it."

Employees feel the difference too. The portal shows their stock options, vesting schedules, and a clear visual breakdown of what's vested now and what comes next. "The employees were really happy with it. The portal is really nicely designed and very user-friendly."

What's next

With Ledgy in place, Deniz is confident Neural Concept can keep scaling without rebuilding its equity stack.

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His advice to founders setting up cap table infrastructure: pick a platform that fits your structure from day one, not one your structure has to bend to fit.

“If your cap table has any specificity, ask the provider directly: can your tool model this natively? That should be a clean yes or no. A platform that fits your structure on day one will keep fitting it as you scale.”