Qapita, a platform focussed on equity and transaction management for the private market, has raised $1.8 million (about Rs 13.22 crore at current exchange rates) in seed funding.
The round in the Singapore-based Qapita has been led by Vulcan Capital, the investment arm of Microsoft co-founder Paul Allen, the startup said in a statement.
Qapita, which also has an office in Hyderabad, said other participants in the round include Alto Partners Multi Family Office, Rippledot Capital chief executive officer Atin Kukreja and angel investor Koh Boon Hwee.
K3 Ventures, KDV Holdings, Mission Holdings and several partners at Singapore-based private equity firm Northstar Group, including co-founder Patrick Walujo, also took part in the round.
Qapita was founded by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan last year. 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.
It will use the capital to strengthen its team, accelerate its product development and increase its client base.
“The platform will empower all equity stakeholders to digitally manage their holdings in this region, where each country has its own unique regulatory landscape,” said Tommy Teo, who leads Vulcan’s Southeast Asia investments.
Ravulaparthi, who is Qapita’s CEO, is an alumnus of IIT-Madras and IIM-Bangalore, his LinkedIn profile shows. He has worked with Macquarie Group and BNP Paribas. He has also served as a director at Rippledot Capital.
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.
Qapita says it will initially serve customers in Singapore, India and Indonesia before expanding to other markets.