When a startup business begins to raise capital, they traditionally turn to customary tools to manage their equity, such as spreadsheets and plain ruled record books.
Such a practice in today’s technological world seems impractical, a Vancouver-based fintech believes, leaving founders with more inconveniences than benefits.
“As your startup business grows and continues on to the next funding series, traditional ways won’t just be able to keep up with your company’s equity, leaving you with a vague visualization of your company’s securities,” asserts Finhaven, a digital-forward equity management platform that last year collaborated with Blockchain@UBC—a multidisciplinary research cluster that engages in research and education to advance development and adoption of blockchain technologies in BC and beyond.
Chief executive officer DH Kim says that Finhaven’s in-depth market research found that equity management platform users shared similar inconveniences with current available softwares, including unintuitive interfaces, muddled pricing tiers, and product bloat.
With the research findings in mind, Kim says Finhaven aims to provide an easy-to-use, affordable, and clearly priced equity management platform for small- and medium-size businesses.
“We aim to make [capital market infrastructure] available directly to companies and investors, eliminating the need for intermediaries,” he said. “Our SaaS product enables this transformation and has the potential to bring the true innovation of blockchain closer to our reality.”
A free version of the SaaS product, now available, offers up to one capitalization table and a maximum of five transactions. A paid version, for US$12 per month, enables three cap tables and an unlimited amount of transactions.
“Companies and investors will no longer need to use multiple software applications for their capital raise or investment journey, as our integrated SaaS product covers the entire journey,” Kong stated.
Finhaven’s platform targets startups raising pre-seed and seed capital.