Rethinking BSPCE Valuation
Why Startups need a market aligned, transparent approach
As equity compensation becomes increasingly central to startup hiring and retention strategies, the valuation of BSPCEs (Bons de Souscription de Parts de Créateur d’Entreprise) remains a persistent blind spot in Europe’s innovation ecosystem. While these instruments are designed to align employee incentives with company performance, a lack of standardized and transparent valuation practices continues to introduce risk, inefficiencies, and misalignment for founders, employees, and investors alike.
In contrast to U.S. startups, where cap table management and 409A-compliant valuations are well-established practices, European startups often rely on informal or outdated methodologies. The result? Underestimated strike prices, inconsistent treatment across funding rounds, and limited comparability with market benchmarks. According to data from Carta, 70% of startups significantly undervalue their stock options—a practice that can create long-term tension with teams and distort financial reporting.
A more data-driven and consistent approach is urgently needed, one that reflects real-time market dynamics while remaining compliant with local regulatory frameworks. The goal is not just technical accuracy, but also strategic alignment: fairer valuations can support more competitive equity packages, reduce legal exposure, and improve transparency with both employees and external stakeholders.
This is the context in which MyBSPCE-Value has been introduced. ScaleX Invest et Aether unissent leurs forces pour lancer myBSPCE Value : la solution de valorisation dédiée aux entrepreneurs Tech – MyBSPCE.
Developed by ScaleX Invest, a company specializing in private market valuation software, in partnership with Aether Financial Services, a regulated financial advisory firm, the platform offers a new methodology grounded in the largest dataset of startup transactions in Europe. Drawing on data from over 8,000 private companies, the tool provides valuation benchmarks that reflect the true cost of equity in today’s market.
In addition to its strong data foundations, MyBSPCE-Value is built with compliance in mind. Its methodology aligns with AMF (Autorité des marchés financiers) recommendations and meets audit-grade standards—making it suitable for board-level reporting, tax submissions, and investor negotiations. As Aether FS is regulated by the ACPR, the solution also brings regulatory assurance to CFOs and startup leadership teams navigating increasingly complex equity structures.
Ultimately, the case for modernizing BSPCE valuation is clear: as equity becomes a primary lever for growth and talent acquisition, startups need tools that move beyond approximations and legacy spreadsheets. Solutions like https://www.mybspce-value.com/ point the way forward—offering not just better numbers, but a stronger foundation for scaling responsibly and competitively.
More advice on: https://www.mybspce-value.com/.