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At Carta, we’re always searching for ways to improve our products and services. We work hard to ensure our customers have an excellent experience by combining our best-in-class technology with superior service.

In Q3, our team of product managers, engineers, and designers focused on building the Carta general ledger, SPV formations, improving the LP experience, and making capital call lines of credit even better. 

Automating accounting, reporting, and other repetitive tasks allows your fund admin team to spend more time helping you reach your fund’s strategic goals. 

Carta general ledger

The Carta general ledger uses event-based accounting to give your fund administration team more time to focus on providing you with the best service. 

The general ledger (GL) eliminates dual entry and repetitive tasks for your fund administration team.

Before building our proprietary GL, Carta relied on third party software to help track fund transactions. This strategy helped get our fund administration business off the ground, and we are excited to execute and improve on this further. 

The general ledger integrates with current Carta tools without any manual intervention from your fund administrator. All journal entries are automatically created when your fund calls or distributes capital, which reduces dual entry. With the introduction of the general ledger, all your accounting data on Carta is more automated and interconnected on the backend, making it even easier for your fund administrators to create routine documents and reporting quickly and accurately. 

SPVs

Q3 investors product update 1

Streamlined formation and closing

Forming a SPV is a breeze when you create it with Carta. We help you customize your legal docs, form an entity, find a registered agent, and open a bank account for you. When it’s time to wrap your SPV up, we’ll take care of all the distributions and communications to your investors. 

Easy taxes 

Our SPV product includes tax services. We’ve partnered with SPV tax professionals to handle your K-1s so your taxes happen in-app.

LP experience

Q3 investors product update 2

New LP onboarding

Now, when your LPs onboard, they’ll have fewer steps to get started. They won’t have to worry about accepting their fund commitment in order to get their account on Carta. When they sign up, they’ll directly be taken to their portfolio where they can see all their investments. Less steps to onboard your LPs ensures a better experience for them.

In-app wire instructions

LPs can now enter their own wire instructions directly in-app. Fund admins can also trigger an email to LPs reminding them to update their wire instructions, if needed. This gives LPs more flexibility and makes distributions faster. 

Email customization for LPs

You or your fund admin can now customize the email you send to LPs when they have a document to review. You can customize the subject line, header, body, and several dynamic fields. Plus, you can send a preview to yourself to make sure everything looks right before sending it to your LPs. 

Capital call lines of credit 

Q3 investors product update 3

Automated loan statements

Loan statements let you review your capital call line of credit transactions and fees in detail. Now, Carta directly syncs with our partner Coastal bank’s system of record to automatically generate loan statements. This reduces manual data entry and helps you get your statements faster.

CCL loan tracking 

We’ve added a backend in-app loan tracking system for your Carta team so they can manage your CCL with ease. It gives the Carta team all the information they need, like facility information, transactions, borrower details, upcoming due dates, and more. We’re making sure we stay on top of your CCL so we can continue to provide best in class loan service. 

Loan management system 

We’ve now directly integrated with the Coastal bank’s loan management system to ensure data integrity and faster loan origination. Automating the origination for capital call lines of credit ensures more accuracy and speed when you’re trying to open a CCL with Carta. 

If you’re curious and want to learn more about what we’ve worked on and what’s in store for Carta investor products in the future, join our live webinar on October 29, 2020 at 10:30 AM PST. Register now

 

DISCLOSURE: This communication is being sent on behalf of Carta Investor Services, Inc. (“Carta IS”) and Carta Financial Technologies, LLC (“Carta Financial”), wholly-owned subsidiaries of eShares, Inc., dba Carta, Inc. Certain transactional fees may apply. This communication is not to be construed as legal, financial, accounting or tax advice and is for informational purposes only. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta, Carta IS and Carta Financial do not assume any liability for reliance on the information provided herein. 

Carta offers capital call lines through a strategic partnership with Coastal Community Bank (“Coastal”),  Member FDIC. If you are approved for a capital call line of credit, Coastal will be your lender. Coastal’s obligation to provide a capital call line of credit to you will be subject to customary conditions, including but not limited to Coastal’s satisfactory completion of due diligence on you, your general partner and your LPs.

 

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