How Carta helped Singapore-based iPiD fundraise with confidence while scaling

When Singapore-based global payment solutions provider iPiD began gaining traction in the fintech space after launching in 2021, the company knew that having the right tools in place to support its rapid growth was essential.

iPiD, which simplifies global cross-border payments, reduces failed payments, and prevents fraud through its platform, needed a solution to fundraise with confidence and manage ESOPs (Employee Stock Ownership Plans) with ease.

While exploring various options, the team was introduced to Carta by their investors and soon chose to onboard with the Carta team for cap table management, issuance of ESOPs, and SAFEs.

Before using Carta, iPiD managed everything on spreadsheets—from ownership stakes to ESOPs. As one of the fastest-growing companies in the space, the increasing issuance of ESOPs made managing them on spreadsheets a painful experience.

Geertjan Van Bochove, iPiD’s co-founder, COO, and CFO, who was in charge of updating the spreadsheets, initially found it manageable. However, as time passed and changes in the company’s equity structure increased, “leveraging Carta is really paying off,” he said.

Carta’s cap table management software automatically updates the equity structure when new ESOPs are issued, saving time while maintaining accuracy. “It made communication much easier on the back-end as well when additional ESOPs were issued,” Geertjan said, reflecting on the time saved using Carta.

Heading into a funding round, iPiD knew the importance of running a structured process. “We wanted to build confidence in our investors,” Geertjan said, and onboarding with Carta helped achieve that.

iPiD specifically leveraged Carta’s structured data room for its management of SAFEs and convertible notes. Carta’s data room acts as the backbone of confidential document exchange and due diligence. It streamlines the process and enhances transparency, allowing investors to see everything—from document routing to equity status.

With proper systems in place, iPiD provided visibility to everyone involved. “You can very easily grant access, remove access and see whenever documents are uploaded or removed,” Geertjan said. “It helped us clearly show that there’s a source of truth to our investors.”

This, coupled with Carta’s seamless cap table management software, ensured that Carta’s offerings were more extensive and comprehensive than all other vendors iPiD considered, Geertjan said.

Geertjan recounted the onboarding experience as smooth and straightforward “It was actually very easy, because you just need to share the Excel file with [Carta’s] onboarding team and they’ll take care of it,” he said. Although some translation work was involved in the process, it also allowed iPiD to catch a couple of previous mistakes.

Carta is committed to providing every startup with the right tools from the beginning and the necessary education for scaling. When asked for advice to new founders building for scale, Geertjan said, “as soon as you have more than 10 people involved in the cap table structure, you definitely need to have it right.”