Equity management platform Qapita raises funds
Qapita helps private companies and startups record and manage capitalisation tables (cap tables) and employee stock ownership plans (ESOPs).
Hyderabad: Equity management platform, Qapita, which has its office in Hyderabad, on Tuesday announced that it has raised a $5 million (approximately Rs 37 crore) in Pre-Series A funding. The round of funding was led by MassMutual Ventures along with participation from Hyderabad-based venture capital firm Endiya Partners and India-based angel investors including Anjali Bansal (founder of Avaana Capital), Sujeet Kumar (co-founder of Udaan) and CEO of an India-based decacorn.
Qapita helps private companies and startups record and manage capitalisation tables (cap tables) and employee stock ownership plans (ESOPs) and it aims to digitise issuance of equity awards and shares. The Pre-Series A fundraise follows closely on the heels of its seed round led by Vulcan Capital and East Ventures in September last year. Apart from Vulcan Capital and East Ventures, most existing angel investors including Koh Boon Hwee, Atin Kukreja, Alto Partners, Mission Holdings, Northstar Group Partners (Patrick Walujo) & K3 ventures also participated in this round.
The startup was founded in September 2019 by Ravi Ravulaparthi (CEO), Lakshman Gupta (COO) and Vamsee Mohan (CTO) to use systems and software to aid equity and ESOP management in private capital markets across the region. The team has grown from six people in September 2020 to over 30 people today, spread across various geographies in this region.
“This fresh funding will be used to add engineering talent, accelerate product development and build clientele in India, Indonesia and Singapore,” said Gupta and added that in the last six months, over hundred startups have agreed to use their platform to manage their equity ownership. “We are looking to partner with various service providers including law, accounting & company secretarial firms and we will grow together by collaborating,” he said.
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