UX Case Study · Fidelity Private Shares · Equity Management
Principal Product Design · FinTech · Complex Workflow · SaaS

Simplifying equity management for founders & their teams

A full end-to-end redesign of how startup founders raise capital, issue equity grants, and give employees clarity on what ownership actually means — without needing a lawyer in the room.

End-to-End UX Research & Strategy Systems Thinking Complex Workflows Figma · Miro FinTech / HRTech
Role
Lead Product Designer
Timeline
9 Months
Platform
Web SaaS
Users
Founders, Employees, Legal

The challenge was not making finance look pretty. It was making a legally sensitive workflow feel understandable, guided, and trustworthy for non-experts.

Approach: customer insight + systems thinking + execution detail
Equity Dashboard · Founder View

Overview

The opportunity behind the friction

Private company equity management is one of the most consequential and least understood workflows in the startup ecosystem. Founders issue stock options and SAFE notes that will shape their company's ownership structure for years — often using spreadsheets, email, and disconnected legal tools.

This project started when customer research surfaced a clear pattern: founders were completing tasks but not understanding what they'd done. Employees were receiving equity grants they couldn't interpret. And legal partners were spending hours cleaning up errors that better UX would have prevented entirely.

My contribution was not just designing UI. I helped shape the product response: defining where the experience was breaking down, which interventions would build trust, and how to sequence a complex financial workflow so that it felt guided rather than overwhelming.

"I don't mind doing the work. I mind not knowing whether I'm doing something irreversible the wrong way."

— Seed-stage founder, discovery interview
What I led
  • Framed the broader opportunity across three distinct user types
  • Led 18 discovery interviews and competitive audit across 7 platforms
  • Mapped the end-to-end equity journey from grant to liquidity
  • Designed three core workflows from concept through dev handoff
  • Built a role-aware component system in Figma for scalability
What success required
  • Reduce anxiety for founders operating in legally complex territory
  • Give employees plain-language clarity on what their equity means
  • Keep legal partners confident in accuracy and auditability
  • Shorten the fundraising close from 11 days to under 5
-62%
Close time reduction
3.4×
Employee portal engagement
-41%
Tier-1 support tickets

The Problem

Founders operate inside legal and financial systems they don't fully understand

Startup equity management fails not because founders aren't trying — it's because the product experience was built for administrators, not for the people who actually need to make consequential decisions under time pressure.

The experience broke down across three compounding failure modes:

  • Jargon without context. Terms like option pool, vesting cliff, and 409A valuation appeared in UI without explanation, creating hesitation and error.
  • No visibility into consequence. Users couldn't see how their actions affected cap table ownership before confirming.
  • Employees felt excluded. Grant recipients received documents they didn't understand and had nowhere to ask questions inside the product.
  • Legal partners lost trust. Manual verification was common because the platform didn't expose its logic transparently enough.

One equity error caught late costs more in legal remediation than the entire annual subscription. The risk isn't just UX friction — it's company-level liability.

— Employment attorney, contextual inquiry
Failure map · current state
! ! !

Current-state failure map: friction points across the equity issuance journey

Why This Work Matters

How this maps to complex product design roles

How it maps to Fidelity Labs
  • Turned an ambiguous, multi-stakeholder problem into a structured product opportunity
  • Designed for trust and transparency in a high-stakes financial context
  • Translated backend logic — vesting schedules, cap table math, SAFE note mechanics — into understandable user-facing behavior
  • Created journey maps, communication models, and component systems that cross-functional teams aligned around
  • Focused on measurable outcomes: close time, support volume, engagement rate
What it signals about my design approach
  • I work well in unclear problem spaces where the path forward doesn't exist yet
  • I use systems thinking to connect business needs, user understanding, and technical constraints
  • I move fluently from research and framing into polished, actionable product artifacts
  • I champion the user inside cross-functional teams — PM, engineering, legal, and CS
  • I care about whether the product works, not just whether it looks finished
Primary user groups
🚀
Startup Founder
Needs speed, clarity, and confidence.
  • Operates under time pressure during fundraising closes
  • Non-expert in equity law — relies on platform to guide decisions
  • Fears making irreversible, costly errors
Primary decision maker
👤
Employee / Grant Recipient
Needs transparency and education.
  • Receives legal documents without plain-language context
  • Can't evaluate compensation without understanding equity value
  • No in-product channel to ask questions or track vesting
Secondary user · high impact
⚖️
Legal / Finance Partner
Needs control, accuracy, auditability.
  • Late engagement in the design process — a key mistake I corrected
  • Power users of document review who needed workflow redesign
  • Trust anchors: if they're satisfied, founders follow
Trust & compliance stakeholder

Research & Insight

What I learned from discovery

I led a multi-method research sprint over six weeks, moving from individual interviews into behavioral analysis to triangulate where the experience was actually breaking down vs. where it just looked broken.

01
Stakeholder Interviews
18 sessions with founders, CFOs, HR leads, employment attorneys, and recently-vested employees across Seed–Series B companies.
02
Competitive Audit
Catalogued 7 platforms across cap table management, e-signatures, and HR equity portals — identifying gaps in employee transparency.
03
Contextual Inquiry
Observed founders and legal counsel walk through a live fundraising close, documenting every tool, email, and manual step.
04
Analytics + Ticket Mining
Analyzed drop-off data and 300+ support tickets to correlate quantitative pain signals with qualitative themes.

The biggest insight: users weren't confused about finance. They were confused about whether they were doing it right inside the product.

— Research synthesis, week 6
Journey map · equity grant lifecycle

Journey map connecting user expectations, pain points, and intervention opportunities across the equity lifecycle

18
Discovery interviews across 3 user types
300+
Support tickets analyzed for signal
Insight 1
Complexity disguised as compliance

Users conflated legal complexity with product complexity. A confusing UI made founders feel like they were doing something legally wrong — even when they weren't.

Insight 2
Employees are an afterthought

Existing tools were built for admins. Employees — major equity stakeholders — had no way to understand their grants inside the product, eroding trust in the benefit itself.

Insight 3
The fundraising crunch problem

Founders only used the product intensively during closes. Between rounds, the product felt irrelevant — causing re-learning at the worst moment: under deal pressure.

Strategy

Design principle: turn financial complexity into guided decisions

The product shouldn't expect founders to become mini-lawyers. It should ask the right questions in the right order, show consequences before confirmation, and build trust through visibility.

01
Progressive Disclosure
Surface only what's needed now. Legal complexity stays in the system, not the UI. Expert detail is one click away, never on first load.
02
Contextual Education
Replace jargon with plain-language explanations at the point of decision. Users shouldn't need a lawyer to understand what they're signing.
03
Role-Aware Experiences
Founders, employees, and legal counsel have radically different mental models. The product adapts language, hierarchy, and workflows to each persona.
04
Ambient Engagement
Keep founders connected between fundraising rounds with cap table health signals, scenario modeling, and vesting milestones.

Process

How I approached the work

I moved through a rapid iterative cycle, aligning with PM and engineering at every gate to balance ambition with delivery reality.

1
Used escalations as entry points, not the whole story
Support tickets created urgency, but I reframed them using broader complaint patterns to define a systemic product opportunity.
2
Defined the failure loop
Jargon-heavy UI → hesitation → errors → legal remediation → support cost. Each link was a design opportunity.
3
Diverge: concept exploration + design studio
3 distinct directions for the dashboard and fundraising flow. Ran a design studio with PM and legal to select direction.
4
Validate: rapid prototype testing
12 unmoderated usability sessions on fundraising onboarding and employee grant acceptance — the two highest-stakes moments.
5
Build: component system with semantic tokens
Role-aware component library in Figma with density, state, and persona tokens — enabling engineers to build with consistent logic.
6
Ship & measure
Daily design reviews during implementation. Instrumented key flows. Monitored post-launch cohort behavior against baseline KPIs.
Design system · component library

Component library · color tokens, typography scale, buttons, inputs, and spacing system

Artifacts

How the strategy became product experience

These artifacts show how I translated system logic into a customer experience that is legible, actionable, and recoverable. Each screen addresses a specific moment of confusion or trust failure identified in research.

Equity grant wizard · step 2 of 4 · select equity type
1 2 3 4

Equity grant wizard: guided selection with contextual education panel. ISO selected — plain-language explanation replaces legal jargon.

Employee equity portal
Employee Equity Portal
Plain-language grant summary, visual vesting timeline, and "what this means for me" explainer. Grant acceptance rates improved significantly post-launch.
Fundraising close · SAFE issuance
3 4
Fundraising Close Wizard
Guided SAFE issuance flow with step-by-step checkpoints. Legal review embedded as a step, not a separate tool. Reduced close time from 11 days to 4.
Cap table health dashboard
84
Cap Table Health Dashboard
Ambient signals — dilution modeling, expiring options, vesting cliffs — keep founders engaged between fundraising rounds and reduce support-discovered surprises.
Fundraising scenario modeler · ownership preview before close

Fundraising scenario modeler: founders configure raise terms on the left and see real-time ownership impact on the right — before committing to any close

Edge Cases I Accounted For

Where the work becomes senior

High-stakes financial experiences don't fail on the happy path. They fail at the boundaries — when timing, user understanding, and system logic stop aligning.

Experience & Timing Edge Cases
  • Founder tries to issue a grant before setting up an option pool — system must redirect, not fail silently
  • Grant total would exceed the available pool — conflict shown before submission, with path to resolution
  • 409A valuation has expired — legal compliance warning surfaced contextually in the grant flow
  • Employee receives grant before accepting an offer — access state and communication timing designed explicitly
Legal & Compliance Edge Cases
  • ISO grants above $100k annual limit — platform flags the overage and explains NSO conversion
  • Vesting acceleration on acquisition — scenario modeler accounts for single and double trigger
  • Terminated employee with unvested shares — clawback state and communication flow designed end-to-end
  • Legal counsel reviews document with comments — annotation flow designed within platform, not via email

Impact

Customer and business value

Results measured across two post-launch cohorts (90 days). Metrics aligned with product KPIs defined with the PM and data team before any design work began.

62%
Reduction in average fundraising close time (11 days → 4)
3.4×
Increase in employee portal engagement post-launch
41%
Drop in equity-related Tier-1 support tickets
88%
Task completion rate on redesigned grant acceptance flow
Why the solution worked
  • Founders were guided through legally complex decisions instead of left to interpret them
  • Employees understood what their equity meant before accepting — reducing confusion and support load
  • Legal partners had annotatable documents inside the product — eliminating email review cycles
  • Cap table health signals kept founders engaged year-round, not just during closes
Why this is relevant to strategic UX work
  • I used real friction signals to frame a broader product opportunity
  • I mapped uncertainty across legal logic, system behavior, and user understanding
  • I translated ambiguous business rules into a coherent customer experience
  • I focused on decision-making quality and measurable outcomes, not visual deliverables alone

Good fintech UX is not decoration. It is risk reduction, comprehension, and momentum — making it safe to act, and clear what to do next.

— Portfolio takeaway

Reflection

What this project says about how I work

What I learned
  • Engage legal counsel earlier. I underestimated how much employment attorneys reviewing documents on behalf of founders would become power users. Late engagement cost us one sprint of rework on document review UX.
  • Design for the empty state. We shipped the cap table health dashboard without an early-stage empty state for companies with 1–3 stakeholders. Post-launch usage exposed the gap immediately.
  • Daily engineering standups are the highest-leverage design habit. Implementation drift dropped significantly once I had a standing channel for real-time decisions.
What I'd do next
  • Measure which contextual education modules most effectively reduce legal review requests
  • Test comprehension directly: "What happens to your shares if the company raises its next round?"
  • Instrument the full employee portal funnel — grant view → grant understanding → grant acceptance
  • Explore proactive AI-powered dilution alerts to keep founders ahead of consequential decisions
Design review · Figma annotation layer

Design review in Figma: annotated specs for engineering handoff with edge cases, states, and decision rationale embedded directly in the file

What this case study demonstrates

I do my best work in ambiguous, high-stakes product spaces where financial logic, user trust, technical constraints, and cross-functional alignment all need to come together in one clear experience. I use research to define the right problem, systems thinking to design the right solution, and execution discipline to ship it well.

Want to talk through this work?

I'm happy to walk through the research, prototypes, or how I approached any specific design decision in this project.

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