“Can a Europe-native equity management platform become the global system of record for all non-cash compensation (equity, deferred comp, carried interest, pensions)?”
Founded 2017 in Zurich as a cap table / equity management SaaS for European startups, Ledgy expanded from private-company cap table into a full lifecycle platform covering share plan administration, IPO readiness, and post-IPO trading & settlement. Positioned itself as the European alternative to Carta with a stronger multi-jurisdiction compliance story, then extended in 2026 into a unified 'non-cash compensation' platform bundling equity + deferred comp + carried interest + pensions. Notably NOT a fintech: Ledgy does not custody money, issue cards, or hold licenses — it uses Airwallex as paying agent for employee stock trading payouts.
Ledgy uses Airwallex for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 2 layers in Ledgy's stack: Unified APIs (Merge); FX & payouts (Airwallex).
Ledgy was founded by Yoko Spirig and is founded in 2017, headquartered in Zurich, Switzerland (also London).
Ledgy has raised unknown in total (latest round: Series A, 2021).
Get a read on where your own stack stands against Ledgy and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.