Qapita, a software-as-a-service (SaaS) platform focused on equity and transaction management for the private market, said it has raised $15 million (Rs 111 crore) in its Series A funding round.
The round was led by East Ventures through its Growth Fund and Vulcan Capital, with participation from NYCA and other existing investors including MassMutual Ventures and Endiya Partners.
Several existing angel investors including Alto Partners, partners of the Northstar Group, K3 Ventures, Mission Holdings, Anjali Bansal, founder of Avaana Capital, Sujeet Kumar, co-founder of Udaan, and a CEO of an India-based decacorn also participated in this funding round.
Qapita raised $7.25 million in earlier rounds of funding.
The company said it will use the fresh capital to amplify its client base, and scale up talent across Singapore, Indonesia, and India.
Qapita was founded by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan in 2019. The company says its platform allows private companies to manage their capitalisation tables and employee stock ownership plans (ESOPs). The startup says it will also enable the digital issuance of ESOPs and shares.
Gupta functions as Qapita’s chief operating officer and is a graduate of the Indian School of Business. He has worked with companies such as Sony Entertainment Television and Tata Communications.
Mohan is an IIT-Madras alumnus and serves as the startup’s chief technology officer. His prior experience includes roles at CAMP Systems and YASU Technologies. He also founded Techbrix Software.
“We are in some of the fastest-growing private markets in the world. It is an incredible time to build an operating system and transaction rails for private company ownership in this region. This is about leveraging tech to enhance transparency, access, efficiency, and liquidity in private markets,” Ravulparthi said.
In September last year, the company had raised $1.8 million in seed funding led by Vulcan Capital, the investment arm of Microsoft co-founder Paul Allen.