Web-Login on Mobile

Carta mobile app users will now be able to login using a web-browser on iOS and Android. Web-login gives us the benefits of browser-based authentication, and better security, without disrupting the user experience.

Who this affects

Employees and Investors

Supported Platforms

iOS & Android

What’s New

In an effort to bring login and authentication together across all Carta platforms, we are launching browser-based login on mobile. The web-login experience will use Safari on iOS and a default browser on Android.



Notifications for Qualified Small Businesses

What’s New

Users with holdings in companies identified as Qualified Small Businesses (QSB) will now be notified of the potential tax benefit. Carta determines QSB eligibility when performing a 409A valuation and email notifications will be sent to all users associated with the company once the valuation is accepted. In addition, vesting emails will include information about the qualified small business stock (QSBS) tax benefit.

Furthermore, users can now find a banner in the company overview page within their portfolio that informs them about QSBS eligibility, linking to a blog post to learn more. Finally, users will be notified if their exercise qualifies for QSBS once they submit an exercise request.

Who this affects

US Companies using Carta for 409A valuations that are QSBS eligible and all their stakeholders, prioritizing “Vested” option holders. 

How it works

Email notifications

Emails are sent to all users associated with a company that qualifies as a QSB. If Carta determines the company is a qualified small business, emails are sent once the 409A valuation is accepted. Extra emails are sent to all users each time the company’s valuation includes eligibility. 

Vesting emails

Vesting emails will now include information about QSBS eligibility to help make a more informed decision about exercising. 

Company’s overview page

A banner informing users of the QSBS Eligibility Tax Benefit can be found next to the company’s name in their portfolio. This banner appears for companies identified as qualified small businesses, including information about the potential tax benefit from exercising and the expected timeframe of the company’s eligibility. 

Exercise submission message

Upon submitting an exercise request, the Congratulations page will inform users that the shares are QSBS-eligible. It summarizes the conditions and links to an Equity Education article to learn more (highlighted in red).

Timing

  • General availability for all 409A customers by the end of Q1

Additional Resources

Qualified Small Business Stock (QSBS)

What’s new

Companies using Carta for 409A will now be additionally assessed for qualified small business eligibility at no extra cost to the company.

Certificates issued by a qualified small business as determined by Carta will have a "QSBS" tag in the product to indicate that the shares represent Qualified Small Business Stock (QSBS). The goal of these tags is help stakeholders make more informed selling decisions.

The IRC’s definition of a qualified small business is restrictive yet vague and open for interpretation at the edges, so potential holders of QSBS should consult their tax advisor before making decisions to sell and claiming the QSBS tax benefit.

How it works

Based on company-provided information during the valuations process, Carta will assess the following criteria for qualified small business eligibility:

  • Company's gross assets are $50M USD or less
  • Company is an active business
  • Company is a C-corp
  • Company does not operate in excluded industries

If a company is identified as a qualified small business, a new badge will appear in the 409A dashboard:

If a stakeholder receives a certificate from a qualified small business but hasn't yet met the 5 year holding period for QSBS, they'll see a "QSBS eligible" tag in their portfolio:

Drilling into the security, the stakeholder will see some additional information about the QSBS status of the certificate:

Stakeholders who have held shares issued by a qualified small business for 5 years will see a "QSBS" tag in their portfolio instead:

Additional Resources

For detailed information about QSBS in Carta, please refer to our QSBS support article.

Who this affects

Companies using Carta for 409A and their stakeholders.

Timing

  • Available now to 50 randomly selected 409A customers
  • General availability for all 409A customers coming in two weeks

View Public Company Holdings on Mobile

Users with holdings in public companies will now have the ability to view their holdings for both public and private companies straight from the Carta iOS app. Shareholders can now track market values, view total holdings value and more.

Who this affects

Shareholders with holdings in public companies.

Supported platforms

  • iOS (Android coming soon)

What's new

With an aim to provide functional and streamlined experiences for shareholders, we’ve brought the ability to view public holdings on the Carta iOS app. Public company cards will now be present among private companies on the home screen. The following information will be displayed for each public company card with the ability to view further details when clicked:

  • Total number of shares held
  • Total holdings value
  • Net holdings value

Instant KYC for Non-Individual LPs Completing Subscription Documents

Non-individual Limited Partners who complete subscription documents on Carta can now be KYC’ed instantly.

What’s New

This release is a follow-up to our KYC for Individual LPs feature. If your fund leverages Carta’s KYC/AML service and you have non-individual Limited Partners (LPs) completing subscription documents in Carta, these LPs can now be instantly KYC’ed on the platform. Carta instantly KYCs the LP's control person and beneficial owner(s) in addition to the LP entity itself.

Carta’s instant KYC feature is made possible by Carta integrations with identity and verification databases like LexisNexis, Ekata, Socure, and more.


Limitations

  • For this release, only US-based LPs are supported for instant KYC. Future releases will extend support to non-US LPs


How it Works

  1. As an LP completes their subscription documents, non-individual LPs (for funds that avail of Carta’s KYC/AML service) will see a dedicated Know Your Customer section. Upon landing here, LPs will first be asked if their control person and beneficial owner(s) are all US persons - 





  2. If the control person and beneficial owner(s) are all US persons, then the LP will be shown forms to enter KYC information for these individual(s) -






  3. Finally, the LP is also able to upload any entity formation documents and photo IDs here:



  4. Once subscription documents are signed by the LP, the following are instantly KYC'ed: the LP entity, control person, and beneficial owner(s). If all pass KYC, this is immediately reflected in the Carta UI and General Partners are notified to countersign -


    Timing: Rolled out to all on Aug 31, 2021

    Audience: US-based Limited Partners, General Partners


[Early Access] Live Chat Support

Carta now offers Live Chat Support to Early Access Users. 

Who does this affect?

Law firm users and companies in Carta Launch 

What’s new?

Users can now opt to chat live with a Support Agent, in addition to the traditional Phone and Email Support. 

They can simply access the Help Center by clicking on the dialog balloon at the bottom right of the screen, where the Live Agent option will be available. 


After accepting the terms and conditions, the user will be connected to a specialized Support Agent. 

This rollout builds upon Carta's investment in a modernized approach to how our customers receive assistance in-app, enabling easy access to multiple engagement types to fit the context of the question, including: 

  • Chat
  • Voice and video
  • Co-browse
  • Screen-sharing 

All within the Help Center in-app! 

New Carta Launch onboarding for early stage founders


What’s new?

Early stage founders can get self-onboard onto Carta Launch faster than ever before. Founders with up to $1M raised or 25 stakeholders or fewer can now create an account and onboard company data with ease, speed, and confidence for free.  

Carta Launch is live on Product Hunt! We'd so appreciate your upvote!

How it works

Sign up and create your account

  1. On carta.com/launch, click “Get Free Access” 
  2. Fill out a simple form with your company information to create your account.



Guided onboarding

  1. We designed the new onboarding experience to be friendly and guide you through each step



  1. With just Incorporation Documents and Common Stock Purchase Agreements, you can enter information about your Company, Founder Shares, and Users & Roles to complete your onboarding.
  2. Once you’ve reviewed and activated your account, you’re all set to get started on Carta.

  1. Your free Carta Launch plan is suited to fit your immediate fundraising and equity needs and set your company up for success as it scales.


Additional resources 

  • For step by step instructions for how to get started find our video guide here
  • For more information about what is included in Launch, check out this video or check out our most recent blog post. 
  • For any additional questions, please reach out to partners@carta.com or get help through our in-app support. 





Home Screen Redesign on Mobile

Users with holdings in private companies can now view their holdings details straight from the home screen for easy access.

Who this affects

Shareholders with holdings in private companies.

Supported Platforms

  • iOS & Android

What’s New

With an objective to provide insightful experiences, we’ve redesigned the home screen on the Carta app to display important holding details for each company. Company cards will now present the following information with the ability to view further details when clicked:

  • Total number of options held, number of options vested and exercised 
  • A vesting progress bar comparing the number of vested and exercised options to the total options granted
  • Summary of securities displaying types and quantities for each held

Capital Calls on Mobile

General partners now have the ability to view and track capital calls from the Carta iOS app. Investment firms can now track the progress of on-going and completed calls along with investor details, on the go, straight from the Carta app.

Who this affects

  • Fund administration clients

Supported platforms

  • iOS (Android coming soon)

What's new

Fund Administration clients can now access their capital call details and investor information from the Carta app.

  • The home screen now provides a summary of active capital calls with the ability to view individual call details.
  • Navigating to a capital call allows you to view further call and investor details along with a full investor list which can be filtered by Paid and Unpaid calls.
  • The Fund Details page now also provides a capital summary and the ability to view a list of Active, Drafted, and Completed calls.


Instant KYC for LPs Completing Subscription Documents

Limited Partners completing subscription documents on Carta can now be KYC’ed instantly.


What’s New

If your fund leverages Carta’s KYC/AML service and you have Limited Partners (LPs) completing subscription documents in Carta, these LPs are now instantly KYC’ed on the platform. 

Carta’s new instant KYC feature is made possible by Carta integrations with identity and verification databases like LexisNexis, Ekata, Socure, and more.


Limitations

  • For this first release, only individual (as opposed to entity) LPs are KYC’ed. Future releases will support KYC for entity (non-individual) LPs as well. This includes KYC for the LP entity, LP control person, and LP beneficial owners
  • For this first release, only US-based LPs are supported. Future releases will extend support to non-US LPs


How it Works

  1. As an LP completes their subscription documents, individual LPs (for funds that avail of Carta’s KYC/AML service), will now see a dedicated Know Your Customer section. Here, LPs can input the additionally required information for KYC -


  2. Once subscription documents are signed by the LP, the LP is instantly KYC’ed. If the LP passes KYC, this is immediately reflected in Carta and General Partners are notified to countersign -


    Timing: Rolled out to Limited Partners on July 1, 2021


    Audience: Limited Partners, General Partners

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