Y Combinator-Backed QuotaBook raises $11 million, led by Elefund

QuotaBook’s latest round will support the company’s international expansion

SEOUL, South Korea, Aug. 17, 2022 /PRNewswire/ — Today, the South Korea-based QuotaBook, an early-stage startup that builds equity and fund management platform solutions for startups and investors, announced it has raised US$11 million in its Series A2 round led by Elefund. Other participating investors include existing investors such as Draper Associates, along with new investors Access Ventures, Hana Securities, and Toss. With this latest round, QuotaBook has raised a total of US$20 million. Previous investors include Y Combinator (YC) and Carta Ventures.

"This latest fundraise is a testament to the incredible work done by Andy and the QuotaBook team," says Serik Kaldykulov, Elefund founder and managing partner. "We were excited to lead this round with them and look forward to their upcoming expansion that will bring their equity management solutions to startups and investors in Southeast Asia and the Middle East."

Founded in 2019 by three venture capitalists who saw an opportunity to digitize equity data management, QuotaBook was the first in Korea to introduce the concept of SaaS-based equity management. Andy Choi, CEO of QuotaBook, and his co-founders built a platform that simplifies ownership management by automating the tracking and organization of equity, convertibles, SAFEs, ESOs, and other data crucial to monitoring company growth and performance. The company now serves over 3,000 startups from pre-seed to pre-IPO in 11 countries including Singapore, Indonesia, Saudi Arabia, and the UAE. QuotaBook’s platform currently handles more than US$40 billion in private equity for clients such as Toss and Danggeun Market, two of Korea’s top-funded unicorns, and Southeast Asian startups like Gushcloud, NextPay, and Ayoconnect.

"50% of prestigious Korean venture capital firms have their account on QuotaBook. These VC firms benefit from accessing and managing their portfolio companies’ equity data for their fund," says Choi. "We are now focusing on helping startups throughout Southeast Asia and the Middle East shift to digitized equity management. Startup ecosystem in SEA/MENA is growing more than ever. For example, Singapore received nearly four times more funding than the global average from 2017 to 2021. Despite the remarkable growth, startups in the region still manage their equity on spreadsheets; we know this is the right time for us to expand to these markets."

As part of QuotaBook’s international expansion strategy, the company has been actively partnering with other regional startups and startup ecosystem players to deliver more holistic solutions to customers for growth and efficiency. Most recently, QuotaBook partnered with four other YC alumni companies – Circular, Deel, Deskimo, and Spenmo – in Southeast Asia to help local startups jumpstart their businesses and operations.

About QuotaBook

QuotaBook is a fintech startup building equity management solutions for startups, employees, and investors. With QuotaBook, founders can streamline equity data and company ownership by managing cap tables as well as running analyses and simulations. Employees are better motivated through stock option features that are aligned with the growth of the company. Investors can track the performance of their portfolios with data automatically synced into the platform. QuotaBook takes care of all the fuss so that founders, employees and investors can focus on building a business together. For more information about solutions, please visit our website.

%d bloggers like this: