Qonto manages equity at scale while optimising their time thanks to Ledgy

About Qonto

Launched in 2017 by Steve Anavi and Alexandre Prot, Qonto is a leading European business finance solution for SMEs, simplifying everything from daily banking and financing to bookkeeping, invoicing, and spend management. Qonto serves more than 400,000 customers in 4 countries (France, Germany, Italy, and Spain) and employs more than 1,300 people in Paris, Berlin, Milan, Barcelona, and Belgrade. Since its creation, Qonto has raised a total of €622 million from leading investors. In July 2022, Qonto joined forces with German fintech champion Penta, in order to strengthen European leadership in digital business finance. 

About Maya

Maya is a Corporate and M&A Legal Manager at Qonto. Her responsibilities include managing all transactions at Qonto as well as communication with shareholders, the board, employees and investors when it comes to equity. After joining Qonto in January 2022, one of her first tasks was to onboard onto a new equity management software.

The earlier the better

{{quote-1}}

When Maya joined Qonto, it was clear an equity management software was needed. The administration of equity plans had become too cumbersome to be done manually and it was error-prone. “There were more employees and more paperwork to be done, it took lots of time that we just didn’t have anymore. We needed to ensure it was all tracked correctly.” says Maya.

In addition, it was important for the team to increase the visibility of equity for their employees. “We wanted to make it easy for employees to see the equity they have and the advantages they have with BSPCE including the vesting schedule, and value of their equity. This was key when choosing an equity management software.” Maya says. 

After finding it to be the most advanced solution available on the French market, the Qonto team chose Ledgy. It was then up to Maya to manage the implementation and onboarding for Qonto on to Ledgy. “There was a lot of data to process, but the collaboration with the Ledgy team during onboarding was wonderful. They were always available and ready to help, and it was also great for me to become familiar with all things equity at Qonto. It would have definitely been worth it to think about implementing a software like this earlier!” she says. 

Time for what matters most

{{quote-2}}

Once Qonto was up and running on Ledgy, the benefits for Maya and the Qonto team were undeniable. “The fact that so much can be automated when it comes to both the equity plans and the cap table makes a significant difference. I save so much time and the risk of errors is minimised. We now have one single source of truth.” says Maya. 

After having joined forces with Penta, there was a lot of administrative work to be done that Ledgy facilitated. “Many grants had to be administered. We were able to import them all in one go, including relevant documentation. It was quick and easy.” says Maya. 

In general, being able to spend less time on manual document creation and grant administration is a big advantage. “Thanks to Ledgy, I can spend more time on more complex topics or projects where I can bring real value, instead of spending time on manual, monotonous work.” Maya says. 

Relief for admins and employees

{{quote-3}}

In her daily operations at Qonto, the efficiency Ledgy provides is a great relief for Maya: “Whenever we have new grants to award, I breathe a sigh of relief because all I have to do is a quick upload and the document creation and signature process is automated from there. It also helps us keep to the principle of having one central place for equity both for us as admins and for the employees.” she says. 

Qonto has also connected their HRIS to Ledgy, which automates much of their stakeholder management. “We find the integration with our HR system super helpful. We don’t need to create new stakeholders manually as it’s all done automatically through the integration.” says Maya. 

When it comes to employees understanding and engaging with their equity, Maya has found Ledgy’s employee dashboard to come in handy. “Employees use the dashboard often and they enjoy it. It’s great to have something available for them and it’s been positively received.” she says. “We also have now set up SSO with Ledgy, which gives employees even easier access to Ledgy.” she continues. 

More collaboration to come  

{{quote-4}}

With Qonto’s continued growth, Maya is looking forward to welcoming more people to Qonto, and working together with them on equity topics. She’s also constantly on the lookout to see how Ledgy develops and continues to improve her experience: “It’s great to see how Ledgy continues to evolve, I’m always excited to see the new features and developments.” says Maya. “There’s been quite a few good ones in the last couple of months, and every one proves to be positive for my experience.” says Maya.

Read more stories about Ledgy’s customers here.