South Korea-based QuotaBook, an early-stage startup that builds equity and fund management platform solutions for startups and investors, has raised $11 million in its Series A2 round led by Elefund, according to an announcement.
Existing investors such as Draper Associates, along with new investors Access Ventures, Hana Securities, and Toss also participated in this funding round. The startup was backed by Y Combinator (YC) and Carta Ventures.
With this latest round, QuotaBook has raised a total of $20 million so far.
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 claims that it 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 $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.
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.