Virtido is a Swiss software company and combines all competences required to develop modern scalable applications, from an idea to implementation, in close coordination with the customers. Virtido provides the competencies of business analysis, requirements engineering, design, development, testing, deployment and release management to its customers along the entire lifecycle of their software projects.
Together with Aequitec, Virtido has converted the existing GmbH into a stock corporation with a share register. We spoke with Daniel Hasler to find out how he has benefited from Aequitec’s expertise.
How did you plan the establishment of the joint stock company?
We had started small with a limited liability company and this developed further, so the conversion to a public limited company was pending. We had the typical structures of a startup - with a paper register of shareholders as well as some shortcomings in the articles of association. With the step to AG, we wanted to be sure that we would be optimally positioned for the future.
How did Aequitec’s expertise help?
Aequitec was able to help us on several levels. First of all, it was clear to us - as an IT company - that we wanted to handle everything as digitally and paperless as possible. We already use - where possible - only electronic signatures and try to minimize the paper piles and handle processes digitally. In the long run, this saves time, costs and helps to keep things in order. Aequitec has helped us with our new articles of association, so that they are in line with the digital future. (e.g. shareholder register, AGM, etc.). Such clauses are not (yet) included in the standard “model articles of incorporation” and may have to be adapted later (expensively…), if necessary. Also other useful advice - for example on the organizational regulations, which can simplify processes - were provided by Aequitec. These changes were then checked by our lawyers and all of them were found to be in order and accepted.
What convinced you to use Aequitec?
We have known Aequitec for more than a year and have accompanied them during the software development. Through the regular contact we have experienced the subject related competence directly. It was therefore obvious for us that we want to use the competences of the team. It also impressed us how the team was very flexible in responding to our specific needs & market requirements (e.g. digital general assembly - in the wake of Corona, this got highest priority & was implemented in record time). Aequitec is always very customer-oriented and ready to respond to individual needs - an aspect, which is very important to us.
In general, what are the challenges of starting a stock corporation?
As with many things, the devil is in the details. With plain vanilla model articles of association and the necessary capital, the AG can be established quickly, but it may not be prepared for the future. Requirements for future growth, shareholder agreements, digital processes and the like can follow quickly. Of course, this can usually be corrected later - but takes a lot of time each time and generates costs - from lawyers, to the notary to the commercial register - and as an entrepreneur, this time is better spent in other ways. Therefore, it is worthwhile to obtain the necessary expertise & spend time at the beginning to be well positioned from the start.
Can you recall an “aha” moment with Aequitec?
Having worked in the banking environment myself in the past, I knew from some special cases, how complex it can be to set up a stock neatly with ISIN number and finally make it visible in the customer portfolio. The fact that Aequitec can do this “at the push of a button”, so to speak, via the SIX connection shows the scope of the solution, also for future developments.
How did you introduce Aequitec to your co-founders?
As a partner, we were in contact with Aequitec early on and were therefore well informed. When I then took charge of the transformation from a GmbH (limited liability company) to an AG (public limited company), pro’s and con’s of the implementation were considered together with Aequitec. What convinced us was that with the small entry-level package we could cover our current needs in a cost-efficient way, but also that we had built a solid foundation for the future development of the company.
What would you advise or recommend to other companies that are considering using Aequitec?
In any case, I would recommend that you contact Aequitec when founding a company or a start-up. Aequitec does not “only” offer a fully digital software solution for maintaining the share register & the virtual general meeting: the team has comprehensive knowledge of the processes, which go beyond purely legal issues and save a lot of time in the operational handling. This should not be underestimated - the accompanying consulting helps here to initiate the right steps at the beginning and to prepare a company for a large number of eventualities in the (digital) future.