Fintech/News/

US equity management fintech Carta acquires UK’s Capdesk

The deal allows Carta to muscle in on Capdesk’s network of European startup cap tables

By Amy O'Brien

Christian Gabriel, Capdesk's CEO

US fintech unicorn Carta has acquired UK counterpart Capdesk for an undisclosed sum, the companies announced today.

Both Carta and Capdesk allow founders of high-growth companies to manage their cap tables as they scale.

Capdesk, which was founded in the UK in 2015, last raised a £5m Series A extension in April 2021. Dealroom estimates the valuation at between $26m and $40m based on this fundraise. 

Although the companies declined to share the price of the deal, a spokesperson for Capdesk tells Sifted that the figure is “several times larger than the last round price set back in April 2021”.

In a statement accompanying the acquisition announcement, Capdesk said it had doubled its revenue in the last 12 months. Its last annual report, for the 2021 financial year, shows the company’s operating losses stood at DKK14.5m (£1.7m). 

Capdesk also told Sifted it had been raising funds “from a position of runway strength” when the deal was reached. “A great price was reached, leaving both sides very happy with the transaction,” the spokesperson added.

Capdesk will continue to operate as an independent business unit within Carta — rebranded to “Capdesk from Carta” — but the company says that “more changes can be expected over time”.

Over 3,500 of Europe’s fastest-growing startups — including Gousto, Checkout.com, Wagestream and Billie — use Capdesk’s platform to manage their share ownership, including employee equity packages. It currently has more than £90bn AUM. 

The deal allows Carta to muscle in on Capdesk’s network of European startups, gaining a foothold in the region while bypassing the varied regulatory requirements of different countries: Capdesk has already done that work for it. 

It follows hot on the heels of Carta’s acquisition of Europe’s answer to AngelList, Vauban, in June.

All of Capdesk’s management team and employees are staying on as part of the deal. 

Amy O’Brien is Sifted’s fintech reporter. She authors Sifted’s fintech newsletter and tweets from @Amy_EOBrien.

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