EquityList Customer Story: Transforming Equity Management at Fincent

When Fincent, a startup in the bookkeeping-as-a-service space, sought to manage its employee stock ownership plans (ESOPs) and equity data, Yaswanth Goteti, the company’s Head of People, knew they needed a reliable solution. 

Faced with several options, Yaswanth was clear about his criteria: the platform had to be user-friendly, cost-effective, and supported by a team with a solid reputation

The company had been using an alternative equity management platform for a few years, but it was severely underutilized. Despite paying for the service, Fincent wasn't receiving proactive support or deriving value from it. 

Yaswanth described the situation bluntly "We've been using it for about three years, with zero usage return. They never bothered with any health-checks."

These challenges with pricing and customization prompted Fincent to seek a new solution that could grow with their business and offer the flexibility they needed.

Solving long-standing challenges (and more)

The transition to EquityList was marked by a focus on swift implementation and user-friendliness. Yaswanth set an ambitious goal of issuing long-overdue ESOP letters to over 90 employees within seven days of implementation. It was a challenging task, considering the backlog and maintaining data accuracy throughout the migration. The EquityList team rose to the occasion, provided round-the-clock support, and took it to completion.

 "The team shared the same passion and commitment. They created an instant-messaging channel…everyone was available. And then they made it a success."

Before switching to EquityList, managing the cap table had been a manual process, with Fincent relying on Excel spreadsheets that were prone to errors and discrepancies. With the new platform, Yaswanth and his team no longer had to worry about accuracy or consistency. EquityList’s automated system ensured that the data was always up-to-date and easily accessible.

In addition, EquityList provided much-needed transparency and efficiency in reporting for both the founders and investors. “There were times when we had multiple versions of the cap table floating around, and no one knew which one was correct. Now, we’re confident in the data, and it’s all just a click away,” Yaswanth says.

Enhancing the employee experience

One of the key benefits that EquityList brought to Fincent was an intuitive and straightforward employee dashboard. Employees could easily access their equity information, such as how much stock they owned and how its value had changed.

Yaswanth mentions that the positive feedback from employees was overwhelming. “Having a dedicated platform where they can view their equity information has made a huge difference,” he says.

For Yaswanth, the platform’s ease of use extended beyond the employees. As an admin, he found the system easy to navigate, and he was impressed by how effortlessly it allowed him to manage equity data.

Saving time and reducing costs

The efficiency gains for Fincent were substantial. Yaswanth and his team saved countless hours that were previously spent manually updating cap tables. The platform’s automation features meant that routine updates no longer required the involvement of their legal team. This freed up resources and allowed the company to operate more smoothly.

“EquityList has reduced the time we spent managing equity by a significant margin,” Yaswanth notes. 

In addition to saving time, Fincent also benefited from cost reductions. By eliminating the need for manual data management and routine legal interventions, they were able to lower operational costs and reallocate those savings to other important business functions.

Unlocking the platform’s full potential

EquityList brought a host of features that further streamlined Fincent’s operations. 

The platform’s user exit management made it easy to keep departing employees updated after they’ve left the company.

Customizable access controls allowed Yaswanth to assign different levels of access to stakeholders such as the legal team and investors. Yaswanth further recalled how much smoother it was to provide investors with real-time visibility into the company’s equity data. 

EquityList also automated cap table updates, particularly during funding rounds, allowing Fincent’s leadership team to focus on high-level strategy instead of getting bogged down in data entry.

A lasting impact on Fincent’s operations

The move to EquityList wasn’t just about solving short-term challenges—it had a lasting impact on Fincent’s overall operational efficiency. With automated processes and a user-friendly platform, Yaswanth and his team now enjoy more control, accuracy, and visibility in their equity management.

Yaswanth sums up the experience: “EquityList has been more than just a platform for us. It’s been a partner, helping us grow and navigate complex equity challenges effortlessly.”

When asked what advice he would give to other companies considering EquityList, Yaswanth’s response is straightforward: “Just go for it. The platform is incredibly easy to use, and the support team is always there when you need them. It’s been worth every penny.”