Singapore’s Equity Management Platform Qapita Raises US$17.2 Million

Singapore’s Equity Management Platform Qapita Raises US$17.2 Million

by February 28, 2024

Singapore’s fintech startup, Qapita, has raised US$17.2 million in a funding round believed to be pre-Series B, adding to the US$22.68 million secured in 2020 and 2021.

This latest financial infusion saw contributions from a mix of existing investors. Leading the investment charge were East Ventures, MassMutual Ventures Southeast Asia, and Cercano Management, each committing US$3 million to the funding round.

The round was further bolstered by contributions from Nyca Partners, Citi, and Endiya Partners, along with an investment from Analog Partners, a new middle-market investment firm led by former KKR Asia Pacific PE head, Ashish Shastry.

While the regulatory filings accessed by DealStreetAsia have confirmed the equity funding received thus far, there’s an anticipation that the total round size may expand to include additional components, possibly even debt financing.

Founded in 2019 by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan, Qapita aims to streamline equity management for companies. Its platform offers a comprehensive suite of services, including capitalisation table management, employee stock ownership plan (ESOP) management, and a marketplace for private market securities transactions.

The acquisition of India-based ESOP Direct in 2022 marked a significant expansion, broadening Qapita’s client base across India and Southeast Asia.