Every company needs to issue shares at some point in their business, especially if the company wants to grow. When a company issues shares to a person, they are getting a part of the ownership and become a shareholder in the company.
And to record all the shares of the company and how many each shareholder owns, it is important for the founders to keep an updated cap table with all the details. This is where Eqvista can help. You can easily issue, manage, track and record the shares in your company on our app.
Eqvista is a platform that helps you to keep an eye on everything that takes place in the ownership in the company. And to make things better, Eqvista has recently launched an updated version of the app for a better user experience. Our latest version Eqvista v1.0 has many new features from an advanced vesting schedule creation to easier access cap table invitations and logged in session.
Our new enterprise version helps in handling all the share data of multiple companies that have advanced instrument structures. Keep reading to see what’s new about Eqvista v1.0 and how it will improve your cap table management.
What’s new about the enterprise release of Eqvista?
The enterprise version of Eqvista works to make your life easier when using the app, and has streamlined key functions in the software for managing various companies, such as using the same email for multiple corporations, an updated mobile version for the app on the go, and easier access to invitation and sessions. We have also optimized many smaller features for a better user experience and make using the app smoother for shareholders and investors.
Our last major update is for our subscriptions plans for companies to sign up and continue to manage their shareholders. We offer two plans, a freemium and premium plan, for both small businesses and large corporations to manage their shareholders.
How can users get started?
The team at Eqvista has put in the hard work to reach this stage where all the important features of the application have been improved. Each part has been tested properly by the team to ensure that users can enjoy using the application with ease. So, if you have not yet tried out Eqvista or are already using the app, take advantage of the newest features for your enterprise.
We have heard the feedback of our users and our team has done our best to improve the app to suit your needs. We have implemented major updates, advanced features and support resources to help launch the newest version.
Additionally, the billing system has been upgraded to make the overall process smooth for the users. And with this update, we are excited to wrap the beta version and officially introduce the new and improved Eqvista v1.0.
Changes made in the New Version of Eqvista
The biggest update in our system is the new billing system for subscription plans on Eqvista. There are two main subscription plans, including:
Freemium plan – Free plan (default plan)
This plan allows you to have:
- Up to 20 shareholders for free
- Access to unlimited features
Premium plan – $2 per shareholder
This plan allows you to have:
- Unlimited shareholders
- Access to unlimited features
The subscription plan is applied to one company account. This means that a company can have one active subscription plan at a time, but managed by a main user. So if a user has three companies and wants to subscribe them all to the premium plan, this person would make three different subscriptions, one for each company.
Unsubscribed company view
Each company is by default subscribed to the freemium plan until the user chooses to upgrade to the premium plan. The picture below displays how the page would be shown when you have not subscribed to the premium plan. You can see that the freemium plan is by default active. You can change this by selecting the premium plan when you want to increase the number of shareholders in the company account.
Note: The freemium plan only allows 20 shareholders in total, as mentioned in the freemium plan above. To add more, you will have to subscribe to the premium plan, where it would be $2 for each extra shareholder above 20.
Subscribed company view
Once the user has subscribed to the premium plan, the system starts to charge them every month for the amount depending on the plan-quantity (that is the number of companies subscriptions made and the number of shareholders in the company – when more than 20).
So, if a company has been subscribed to the premium plan, it is possible to download the pdf invoices on the subscription page. The premium plan can be updated easily where users can increase or decrease the shareholders’ quantity in the plan. However the users cannot decrease the plan-quantity lower than the number of created shareholders in the company as shown below.
The users can also update their credit card information in the billing system. And the premium plan can be canceled at any time by the user based on when they want to end it by clicking on the “cancel” button.
Subscribed on a grace period view
Let us say that you have canceled the premium plan and no longer wish to resume the premium plan next month. In such a case the company will be allotted a grace period, where they can still access the prescribed number of shareholders in the original plan until the end of the month, without additional charges.
The company can also resume the plan within the grace period without being charged. You will just need to click on the “Resume” button on the page as shown below and your plan will resume.
Additionally, if the user (you) cancels the subscription plan before the billing date, the system will activate the grace period and unsubscribe automatically when the grace period is over. As shown in the picture above, you can see the message that says, “Subscription will stay active until the end of a grace period, and will be automatically canceled on (the date)”.
This means that after the mentioned date, the grace period would end and so would your subscription. You will then have to start the subscription all over again if you want to use the premium plan in such a case.
Overlimit subscription view
If a user is under the premium plan and has over 20 shareholders and then unsubscribes, this person’s company profile will be locked. And with this, there would be a message displayed letting the user know that they need to subscribe again or remove the shareholders as shown below.
In short, the user can only have 20 shareholders in the company profile for using the freemium plan. And in such a situation, the user can access the shareholder page to remove the shareholders and their attached grants. By reducing the number of shareholders to 20 or less, the freemium plan will be available and the account would be unlocked.
Basically, you will need to ensure that the number of shareholders in your company does not exceed 20 when using the freemium plan. If it does, you will have to subscribe to the premium plan for that company profile.
When the user is trying to add more than the available number of shareholders: Shareholder Page View
For shareholder creation with issuing grants, convertible notes, and onboarding have built-in functions so you do not go over the limit on the number of shareholders. It can be seen in the image below when the user tries to add another shareholder to 20, it would display the following warning.
Basically the user will not be able to add another shareholder until the user upgrades the subscription plan on the Eqvista cap table platform. The warning will not just show up on the shareholder’s page but also on the page where you are working towards issuing shares to a new shareholder (by obviously adding another shareholder which will make the count of shareholders go above 20). The warning can be seen in the screenshot below.
Other than the changes mentioned above, there have many other changes in the Eqvista platform. Some pages have been redesigned and restyled to look better and help you take the next step as a user.
Along with this, the vesting plan list page has been redesigned as well. You can easily create different kinds of vesting schedules such as time-based vesting or milestone vesting, based on your vesting needs. The buttons have been redesigned as well to make the look much better.
Some other changes made include:
- No more expiration time issues: Before there were expiration time issues where the users experienced a problem when inviting a shareholder. If the shareholder opened the email after a week, it would come out to be expired. This has been fixed and there isn’t an expiration period now.
- Date type: Users can now type in the date or just use the pop-up calendar view to pick up a date.
- Full access to key features: The users can now enjoy unlimited and complete access to the main features of the cap table and use it to its full potential. The features that can be used now include:
– Time-based and Milestone Vesting
– Waterfall Analysis and Round Modeling
– Secondary Transaction lists
All-in-all, our team has worked hard to ensure that every user experience is made better. We have taken in the previous feedback to make a better version for our users. But that is not all; we will continue to test and work towards adding updates as needed. We are also open to feedback from our users to help in making the platform better in the end.
Check out Eqvista here!
If you are already a user of Eqvista, then you can try out the new updates made to the app. And if you have not yet started using Eqvista as your cap table application to track and manage the shares in your company, it is time to do so. We have upgraded the application to make a better user experience for our companies.
Our team also regularly checks and updates the application, so we’re open to your suggestions and feedback. Try out the application here today & let us know how you feel!