When digital investment advisory platform Endowus recently expanded its operations to Hong Kong, they needed to evaluate whether it was necessary to file for FATCA and CRS registration. This exercise required pulling historical ownership data which was not always previously correctly captured, and for which locating historical documents has been difficult.
With Carta, this became a non-issue.
“We were able to use Carta to construct historical ownership numbers very quickly and complete our filing requirement,” said Dominic Ong, Endowus’ CFO and head of strategic partnerships.
Dominic Ong, CFO and head of strategic partnershipsWe use Carta as our primary equity management platform, and our experience with their products and services has been nothing short of exceptional.
Endowus
Single source of truth
Endowus serves customers in both Singapore and Hong Kong, and as it has continued to expand its product range and geographical reach, its cap table has expanded too.
The ease at which company leaders are able to understand and share their ownership data remains the same, however—when prospective investors asked to see the pro forma cap table post-conversion of a convertible note, Endowus easily pulled the data and modeled the outcome. (Endowus has raised over $95M in funding from top investors like Lightspeed, EDBI, Prosus, UBS, and Softbank.)
“We had a lot of confidence in our numbers and didn’t need to sense-check the results because we knew what was in Carta was correct,” Ong says. “Our clients had the same level of confidence when we told them that the results were directly from Carta.”
Calling Carta “the gold standard,” Ong said the company’s products have “helped us to clean up all of our data, giving us a lot more confidence, for both tracking and reporting purposes, especially since we have investors who expect to have this data at their fingertips.”
