Private companies are the biggest contributors to a country’s GDP. They employ most of the world’s workforce, drive a major share of innovation, and attract a growing pool of venture and private equity capital. Yet most of these companies don’t know what they are actually worth.
If we look at the public sector, the companies have solved this problem decades ago. Every listed company has a live price value. Stakeholders can check that number at any point and factor it into their decision-making. Private companies rely on periodic valuation reports that capture one-time value and begin ageing the moment they are issued.
This blind spot has real consequences. Whether pricing a stock option grant as a startup, preparing for a fundraising round as a CFO, or comparing a portfolio as an investor, each stakeholder is using the same outdated information.
However, the rise of AI automation, combined with human ingenuity, is welcoming a new generation of FinTech visionaries building tools to address the situation. Tomas Milar, founder & CEO of Eqvista, is among the most dedicated fintech leaders to do so. He believes, “Liquidity is important, but it cannot function properly without pricing. First, the market needs a trusted way to understand what private companies are worth.”
Building the Road to FinTech
Tomas’ entry to the FinTech space wasn’t linear. He launched his first company, Startupr, in Hong Kong. With a portfolio of company formation and secretariat services, Startupr went on to become one of the greatest of its kind in the jurisdiction. “Company formation, governance, filings, and compliance may not always sound exciting, but they are the foundation that allows companies to grow properly,” explains Tomas.
He eventually moved to San Francisco. The Bay Area helped him expand his thinking beyond services and operations into technology, infrastructure, venture capital, and global markets. His focus also shifted towards a critical question: How can technology shape an entire market? His experience in two distinct regions built complementary instincts that now live inside Eqvista: the discipline of Hong Kong and the market-building mindset of San Francisco.
In time, he also acquired IncParadise, a US-based business incorporation solutions provider, and launched Cheqly in 2023. With multiple ventures on his shoulders, he manages them practically and systematically. First, he builds a working model of every system himself to have an in-depth understanding. Then he onboards the right expertise suited to scale it. This disciplined approach not only helps him run multiple ventures simultaneously but also gives him control over quality.
Revolutionizing Cap Table Management
Tomas launched Eqvista with a single focus: 409A Valuations. It is an IRS-approved fair market valuation that private companies must obtain before issuing stock options. It is a compliance necessity for startups, and the traditional process was tiring and expensive. Eqvista emerged as a faster and more efficient alternative.
The platform offers a full equity management stack covering cap table administration, ESOP and Vesting Schedule Management, board resolution tools, secondary market transactions, and a range of valuation types, including 409A, ASC 820, gift and estate valuations, software, and IP valuations. However, its signature product is the Real-Time Company Valuation®. Where a standard 409A valuation delivers a point-in-time report, Eqvista’s registered trademark offers a continuously updated view of the company’s stock value.
Over the last six years, Eqvista has completed over 9,000 valuations, with pricing quotations exceeding $4 trillion. It works with a ginormous clientele of 25,000 companies and is referred by revered venture law firms like Cooley, DLA Piper, Goodwin, Orrick, Perkins Coie, Wilson Sonsini, and Nixon.
Balanced between AI Integration and Human Engagement
“Powered by AI,” this has become a popular marketing phrase in the fintech space. However, Tomas has a very distinct take on this matter. “Our philosophy is AI-powered and human-delivered,” states Tomas. As an AI company, they use automation to optimize speed, data analysis, internal workflows, and consistency. However, every valuation is reviewed and signed off by a credentialed professional – such as NACVA-Certified evaluators, CFAs, CVAs, or IRS-enrolled agents – depending on the report type.
This balance and distinction are essential because valuation reports carry legal weight. They appear in tax filings, equity grants, audits, and acquisitions. The company works with CEOs, CFOs, founders, and finance teams, and they love working with real people who can understand their company, their needs, and the importance of every decision they make. By combining valuation expertise, proprietary data, and AI-assisted systems, the company aims to make private market pricing more transparent, continuous, and actionable for founders and investors. The blended approach sets apart Eqvista’s review standards, and accountability towards handling client information.
Scaling Without Losing the Thread
The balance between automation and the human element is a critical pillar of Eqvista’s culture. As Tomas says, “scaling with a lean team requires better systems, not just better people.” The company has invested heavily in workflows, automation, internal processes, data organization, and specialized teams to manage such a large client base. It also helps with customizing, as founders and finance teams don’t like generic answers, especially when they are dealing with ownership, valuation, or equity decisions.
Beyond analysis and valuation, the combination of technology and human engagement has an instrumental role in driving innovation. Its Real-Time Company Valuation® is a good example of this. The team had to build valuation models, proprietary data systems, AI-supported workflows, human review processes, and quality controls, which shows that the team values credibility as much as innovation.
Tomas Milar – Leading with Direction
Leadership has no definitive path. Every leader defines themselves through intent and actions. Tomas has evolved to become more strategic and patient with time. Early in his career, he focused on execution – staying hands-on and keeping control. While that instinct no longer defines him, it has definitely shaped his understanding of scalable leadership. He understands the importance of building systems, developing people, and creating the direction that the team can follow.
His style remains demanding. He holds his team to high standards on quality, results, and accountability. However, he draws a line between high standards and over-centralization. A company cannot grow if one person makes all the decisions. Individual ownership is important. This kind of leadership fosters a shared mindset and focus on their mission. Under Tomas’ leadership, Eqvista has evolved from a traditional valuation provider into a broader infrastructure platform for real-time company valuation, equity management, and pricing intelligence. The company is not just building software but changing how private companies understand and use their value.
Milestones and What Comes Next
Tomas has made huge waves over the past 6 years. Each of his ventures solves real problems, has satisfied clientele, and drives their market’s trajectory. With Eqvista, he is challenging the belief that valuation should be static, occasional, and purely administrative. He aims to make valuation strategic so that it factors into every stakeholder’s decision-making. Putting it simply, Eqvista envisions valuation as a real-time intelligence layer for the private sector. The company ranks #1 in G2 and Clutch in the equity management category.
But these milestones aren’t his benchmark. In fact, Tomas plans to keep building on his ambitious goals. By 2030, he aims for Eqvista to be the torchbearer in defining how private companies are priced and valued. His argument is straight, “Liquidity follows pricing. By making pricing transparent and real-time, we can build a much stronger foundation for liquidity.” Liquidity cannot function without reliable pricing beneath it, and that is the foundation Tomas’ Eqvista is working to lay.
Eqvista on Social Media
Business Talk is a digital business magazine that caters to CEOs, Entrepreneurs, VC, and Corporates. While working with entrepreneurs and business executives, we focus not only on their achievements. Our mission is to shed light on business entities, including their innovations, technological benchmarks, USPs, and milestones/accolades.
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