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 1 September 2022 Christian Gabriel, Capdesk's CEO Christian Gabriel, Capdesk's CEO \Fintech Which European banking app is winning the race for customers? By Amy O'Brien 21 February 2023 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 1 September 2022 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. Related Articles Nuri terminates business after failing to find an acquirer By Amy O'Brien Click here to read more Eastern Europe tech in review: the key moments of 2021 By Kit Gillet Click here to read more Fintech sector grapples with Wirecard fallout By Isabel Woodford Click here to read more Starling Bank wants to buy a lender By Ryan Weeks Click here to read more Most Read 1 \Healthtech Is Daniel Ek’s new body scanner worth the hype? Sifted tried it out 2 \Venture Capital VC diversity needs to change — and white men need to take responsibility 3 \Venture Capital New €3.75bn European Investment Fund pot to back late-stage VCs 4 \Sustainability Counteract closes £15m fund for carbon removal solutions 5 \Mobility Was the $5bn that VCs plugged into escooters worth it?