Resolver COO Greg Billinge was using regular spreadsheets to create equity reports. But as Resolver grew, it became harder to keep these spreadsheets valid, as well as share them with the growing team - Greg was becoming a ‘bottleneck’. Resolver also struggled with modelings and shareholder communications during funding rounds. With a complicated structure and varying share prices, aligning information to make offers to shareholders became administratively heavy, and so did communicating with them via email. To then turn offers into documents, send them out individually, and manually gather signatures, delayed the closing of funding rounds. ‘Physical signatures feel like something from the past,’ says Greg, ‘and they’re so much manual work’. Resolver was looking into electronic solutions for these problems, but found them ‘all very US focused, but also really complicated and expensive’.
Resolver partly decided to join Capdesk because it was UK-centered, affordable, and offered spreadsheet exports which fit the company VC’s processes. But what really made Resolver ‘want to get onboard straight away’ was being presented with the platform’s roadmap and vision. ‘I saw that Capdesk fit our purpose and had the potential to make really significant administrative impact as the business grows, and I really bought into that story,’ says Greg.
To have everything stored in one place digitally, and with all the automated features, has allowed us to manage things in a much more structured way and we’re really saving ourselves time. To be honest, Capdesk was an absolute no-brainer.
Now fully onboarded, Resolver are ready to go live on Capdesk very soon. However, reporting on the company’s 72 shareholders has already become a lot simpler. ‘All they have to do to stay updated now is log in’, explains Greg.
The platform has also helped optimise Resolver’s overall equity management. ‘To have everything stored in one place has allowed us to manage things in a much more structured manner. And with all the automated features and our reports and filings being digital, we’re really saving ourselves time,’ adds Greg. ‘‘To be honest, Capdesk was an absolute no-brainer’.
Once live, Resolver will use Capdesk’s multiple reports to inform VCs without having to manually redraft spreadsheets to meet their individual needs. It also believes the platform’s simple interface will help communicate options better to staff, and therefore keep them up-to-date and motivated. Finally, Capdesk will help speed up future funding rounds, by streamlining modelings and supporting electronic signing.
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