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SUCCESS STORY

Global expansion for greentech startup

Planckton Data

  • SEIS & EIS
  • EMI Options
  • Financial Forecasting

Table of Contents

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Background

Planckton Data is a US-based company looking to expand strategically. While the UK market was their main attraction, they were also drawn to the EMI Options Scheme created by HMRC.

Service provided by Rise Accounting

Before completing the EMI valuation, the Rise Advisory team first needed to help Planckton Data set up a UK branch office, as the scheme only applies to UK-registered companies.

An EMI Valuation is needed to determine the price of the share option you can offer to your employees in order to set up an EMI option scheme. Our team compiles a comprehensive valuation report and completes and files any necessary documentation you may need to send to HMRC.

“For us, what truly sets Rise apart is their commitment and personalised approach, always available to answer our queries. I would recommend Rise Accounting to start-ups seeking an accounting partner.”

Rahul Malhotra

CRO and Head of Europe, Planckton Data

The Founder’s experience:

We spoke with Rahul Malhotra, Planckton Data’s CRO and Head of Europe, to discuss their UK expansion experience with Rise Accounting and why our services benefitted them, specifically as a start-up.

An Introduction to Planckton Data​

Planckton Data is a greentech start-up focused on helping companies understand and manage their carbon footprint, aiming to achieve net-zero carbon emissions. They offer end-to-end services for companies looking to ensure successful net-zero journeys. You can learn more about Planckton on their website here. 

What made Plankton Data choose Rise Accounting to help with their EMI Valuation?

Rahul and his team wanted an accounting firm whose focus and expertise is helping start-ups and catering to their particular needs. After speaking with more traditional accounting firms, they decided that Rise Accounting was the best fit for both bread-and-butter accounting and advisory services, including Financial Forecasting and EIS & SEIS. He explained, “because their (Rise Accounting) focus is on start-ups, I felt that they better understand the sort of resources and services start-ups need, no matter their stage, as opposed to traditional accountants. Not everyone helps with fundraising and financial forecasting, they’re very tailored towards what a start-up, like us, needs.”

Would you be happy to recommend Rise Accounting?   

For Rahul and his team, it came down to the efficiency of using Rise Accounting as a ‘one-stop-shop’ for their accounting and advisory needs – which he recommends for start-ups at any stage.  

At Rise Accounting, we’re startup-focused, which means we were able to give Planckton Data a personalised approach, covering everything from managing their monthly accounts to assisting with their UK branch setup and EMI Valuation.  

Rahul noted “I don’t want to deal with multiple organisations, but rather one like Rise Accounting, whose resources and services are tailored towards the unique needs of start-ups.” 

“For us, what truly sets Rise apart is their commitment and personalised approach, always available to answer our queries. I would recommend Rise Accounting to start-ups seeking an accounting partner.”

Are you looking to break into the UK market? We can help you set up and grow here. Contact our team. 

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