Ledgy considers a stakeholder every person with an interest in your company’s cap table. For example people with a stake in the company such as investors, employees or founders, and, people who are collaborating with you on your cap table such as lawyers or advisors.
Every account has an assigned access level.
Portfolio for accounts that only need to see what their stake in your company looks like. This access level is used, for example, for investors or employees.
View-only accounts can access all of your company data, but can’t change any.
Admin accounts can access and edit all of the company data.
Ledgy’s Cap Table is built out of transactions. A transaction is an event such as investment, convertible loan, employee option pool, employee grant...
Before you click the Publish button, all transactions you’ve entered will be visible only to users Admin access level. After you click Publish, the Portfolio and View access level can see the published transactions.
Snapshot is the quickest way to get you started on Ledgy. It allows you to add the current cap table (share ownership of your company) in only a few minutes. Immediately after that, you can use the modeling, reporting and invite your stakeholders functions. You can then add historical rounds later to complete your due diligence history.
The difference between the Historic Round and Snapshot is that Historic Round adds one round of financing. For example, a company has gone through Seed, Series A and last week through Series B round. They can add each of the rounds separately with the historic round. If they want to start with the current cap table, they can use the Snapshot feature.
1. Creating a company
- Fill in the name and country of your company and check the “I Agree to Ledgy’s Data Processing Addendum”.
2. Adding Share Classes
- Add all of the share classes your company currently has.
At this point only add their name, eg. Common or Preferred Series A. Later you will be able to specify the class’ voting rights, dividend right, liquidation preference, anti-dilution or add notes.
3. Adding Stakeholders
- Add all of your stakeholders, you can copy-paste them from your current spreadsheet.
- Optionally add stakeholders’ e-mails. This will allow you to invite them to collaborate. See below for more information about this.
- If the Stakeholder is a legal entity, check the box in the column Legal Entity.
You can also add people that you just want to give access to your cap table e.g. lawyers or advisors.
You will be able to edit the stakeholders later and add more information, such as the group they belong to (founders, employees, investors…), their address, nationality, birth date, and notes.
4. Cap Table
First, add the latest valuation
- Add the name of the event of your latest valuation/financing round
- Add the date of the latest valuation event
- Optionally add the latest share price
Then add the current ownership, i.e. your most recent cap table. You can copy-paste the data from your existing spreadsheet.
- Add the amounts of shares to each stakeholder, respective to the share class.
- Optionally add investment amounts.
- Optionally add pools of diluting shares, e.g. employee participation plans that have been created.
Remove any stakeholders that do not own any shares. They will still be uploaded, they just won’t be included in the cap table.
This step allows you to double-check your entries or quickly compare them to your existing cap table. If you find any mistakes, you can click “Previous” and fix the step where the mistake was made.
It shows the fully diluted cap table including diluting pools. After completing onboarding you can see your cap table in different views.
6. Invite Stakeholders
- Select the stakeholders you want to invite to Ledgy to collaborate with them. You can customize the invitation email or leave it as is.
What happens when you click Finish?
- Your cap table will be created. You can navigate to “Transactions” to edit it or add other transactions such as historic round.
In the picture below you can see the two events added to your transactions. You can edit them by clicking on the 3 dots marked with yellow.
- The invitations to stakeholders will be sent. You can navigate to Stakeholders to add more data, re-invite them or change their access level.
Happy cap tabling!