EquityList Customer Story: Strengthening Equity Management for Scholars Adda

Company background

Scholars Adda, established in April 2024, is a rapidly growing company in the Indian startup ecosystem. They’re on a mission to build “the world’s first decentralized live assessment platform”. 

Their platform offers a wide range of interactive features and resources tailored to enhance learning outcomes and academic performance. With personalized tasks and live exam sessions, Scholars Adda provides students with the tools they need to succeed in their educational journey. 

For educators, their platform offers streamlined assessment creation and evaluation tools, enabling them to assess students with ease and efficiency.

Challenges with equity management

As the company expanded, it faced increasing complexities in managing their equity. Dastageer Momin, Founder & CEO, found their manual equity management processes becoming increasingly cumbersome and time-consuming.

The challenges were numerous and interconnected. Not only were the manual processes inefficient, but they also lacked the transparency needed to build and maintain investor trust. Compliance with Indian regulations was another concern, particularly challenging with their existing processes. As startups with limited resources, they needed a cost-effective solution that could centralize investor information and provide a comprehensive dashboard for future fundraising efforts.

Finding the right solution

The search for an equity management solution coincided with the company's preparations for fundraising.

Through a Google search, they discovered EquityList. Dastageer noted, "Our top priority was finding a cap table management software tailored for the Indian market, and EquityList met that requirement perfectly." After reviewing positive feedback and recognizing EquityList as the leading Indian option, they decided to implement it without considering alternatives.

The implementation of EquityList proved to be a turning point. The onboarding process was remarkably efficient, taking just 3 days to migrate their data. This quick transition allowed the team to rapidly move from manual systems to a modern, comprehensive equity management platform. 

What began as a search for a simple cap table solution evolved into a complete overhaul of their equity management practices.

Comprehensive solutions and unexpected benefits

EquityList provided solutions that addressed each of their challenges. The platform streamlined their equity management processes, replacing manual systems with automated, efficient workflows.

Dastageer was impressed by the breadth of features: "We initially sought a basic cap table tool, but EquityList delivered a full suite of features including board consent workflows, investor dashboards, and secure data rooms. It far exceeded our expectations."

The impact on investor relations was significant. By providing investors with dedicated dashboards, the company dramatically improved transparency and professionalism.

Dastageer emphasized, "EquityList introduced our investors to a level of transparency they hadn't experienced before. The dedicated investor dashboards have significantly boosted trust and confidence in our company."

Compliance concerns were alleviated by EquityList's built-in features tailored for Indian regulations. The platform's ability to manage multiple business entities efficiently allowed for seamless oversight from a single interface, simplifying their complex structure.

Perhaps most surprisingly, EquityList provided value beyond core equity management functions. Through EquityList's partnerships, the company accessed resources from AWS and Microsoft for startups.

Dastageer highlighted this unexpected benefit: "EquityList opened doors to valuable resources we didn't know existed. Through their partnerships, we have joined Microsoft for startups and got technical grants worth more than $150,000, significantly reducing our operational costs."

Results and future outlook

The implementation of EquityList yielded substantial improvements across the board. Efficiency increased as manual processes were automated, reducing errors and saving time. Investor confidence grew thanks to the newfound transparency. Regulatory compliance became more manageable with India-specific features.

The company's satisfaction with EquityList is evident in their exceptional rating.

When asked to rate the platform, Dastageer enthusiastically responded, "I'd give EquityList an 11 out of 10. It's that good." He further elaborated, "EquityList has become an integral part of our operations. Even outside of specific tasks, I find myself regularly exploring the platform, continually discovering new features and insights that add value to our business."

Looking to the future, Scholars Adda views EquityList as a long-term partner for their growth. They continue to explore and utilize more features, such as data rooms for document consolidation, preparing for future expansion and fundraising efforts. The platform's scalability and continuous updates assure them that EquityList can adapt to their growing needs.

Conclusion

The experience of Scholars Adda with EquityList shows how an appropriate equity management solution can transform operations for growing startups in India. By addressing key challenges in equity management, regulatory compliance, and investor relations, EquityList has proven to be more than just a software solution – it's a strategic asset.

For other Indian startups and growing companies, this customer story provides valuable insights into how the right tools can solve complex equity management problems while enhancing efficiency, compliance, and investor trust. EquityList's combination of comprehensive features, India-specific compliance tools, and dedicated support has not only met the current needs of Scholars Adda but has also helped in laying a solid foundation for their future growth.