QuotaBook, a Seoul-based equity management platform, has raised $11 million in funding led by Elefund, with participation from Access Ventures, Hana Securities and South Korean fintech company Viva Republica. Some of its previous backers, including Draper Associates and Capstone Partners, joined the round.
The Korean startup, which graduated from Y Combinator (YC)’s Winter 21 batch, was founded by former venture capitalists Andy Choi, Dan Hong and Pilseon Jun, in 2019. Choi, the company’s CEO, said in an interview with TechCrunch that in their capacity as investors, the three noticed that in Korea and many other Asian countries, startups were still relying on Excel when managing their cap tables, stock options, stakeholder and other related information.
That meant the startups’ backers were forced to make sense of these spreadsheets, too. “VCs were stuck with Excel sheets or very old enterprise resource planning (ERP) tools, so old that they are not web-based and can be installed only on Windo …
