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Indexa Capital: Getting Ready for a New Round of Capitalization

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Indexa Capital is Spain's first first robo-advisor. Its founders have experience in entrepreneurship, new technologies and investment management. Indexa specializes in passive investment, following the model established by other companies in the United States and Europe. The company has undergone two rounds of capitalization and is negotiating an agreement for the deferred entry of a new investor, via a loan convertible into shares.
Bibliographic citation: SUÁREZ J. L., J. L., MARIOLA SORIANO (2021). Indexa Capital: Getting Ready for a New Round of Capitalization. IESE, F-963-E.
Date: 01/03/2021
Author(s): José Luis Suárez; Mariola Soriano
Document type: Case
Department: Financial Management
Sector: Financial
Languages: English
Year of the events: 2017
Geographic area: Spain
Learning objective The case can be used to illustrate the typical problems that arise in the capitalization of startups (valuation, dilutions of shares, etc.) or in the management of a fintech, as well as the quandary of active investment versus passive investment, and the use and analysis of convertible loans.