Tenity is the leading Swiss FinTech accelerator program. From Zurich, the team rolls out their mentoring and coaching program around the world. Partners include industry giants such as the Swiss stock exchanges SIX and SDX, Microsoft, Julius Baer and other companies looking to bring innovation to the fold. To accelerate your internationalization, the Tenity (then F10) association has transformed itself into a public limited company and created bankable shares for further capital increases.
We spoke with Jonathan Seiler, CFO, to learn how they use Aequitec software to manage your shares and handle your AGM.
How did you originally keep your share book?
Originally, we had our share book managed manually through our law firm. After completing our Series A, we received the share book from our law firm as part of the overall PDF documentation.
How did you choose Aequitec as your share book and -register solution?
The most important thing to us is that our shareholders’ property is stored in an audit-proof manner. Word and Excel were not invented by Microsoft to store shares and property. We want to ensure that no property is lost by deleting the file or a line entry.
At the same time, we want to be a digital company not only for our customers, but also for our shareholders and employees. With the help of Aequitec, I can access the share register at any time, for example, in order to issue invitations to the general meeting in compliance with the law. The standardized process steps also ensure that I am legally compliant.
If you had not implemented our solution, what would have happened?
The effort for the entire handling of various corporate governance processes would be much higher. Thanks to Aequitec’s solution, we have the security of being cleanly positioned and save ourselves a lot of operational effort. We also held our Annual General Meeting in hybrid form together with Aequitec. Especially during the invitation and execution of the general meeting, many small mistakes can happen, and it makes sense to have a partner like Aequitec on your side.
Can you recall an “aha” moment with Aequitec?
On the one hand, the possibility of holding a hybrid General Meeting surprised us. This allowed us to reduce a lot of organizational effort. With Aequitec as a partner, we were also able to save the costs for external consulting services via the law firm.
What advice would you give to companies considering using Aequitec?
Many companies underestimate how important the conversion to a digital share register is. The focus is often on digitizing customer processes, even though shareholders and employees are the most important customer multipliers. Only if I live digitization from within as a company can I communicate this credibly to my customers.