Hyderabad: The equity management platform Qapita, which has its office in Hyderabad, announced on Tuesday that it has raised $ 5 million (approximately $ 37 million) in pre-Series A financing. The round of financing was led by MassMutual Ventures, with the participation of Hyderabad venture capital firm Endiya Partners and English investors, including Anjali Bansal (founder of Avaana Capital), Sujeet Kumar (co-founder of Udaan) and CEO of an India-based decacorn.
Qapita assists private companies and startups in capturing and managing capability tables (ESOPs) and employee ownership plans (ESOPs), and aims to digitize the issuance of shares and shares. The fundraising before Series A follows on the heels of the 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) and K3 Enterprises, 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 help equities and ESOP management in private capital markets across the region. The team has grown from six people in September 2020 to more than 30 people today, spread across different geographical areas in this region.
“This new funding will be used to add engineering talent, accelerate product development and build customers in India, Indonesia and Singapore,” Gupta said, adding that more than a hundred new businesses have agreed to launch their platform in the past six months. used to manage their shares. ownership. “We want to partner with various service providers, including law, accounting and secretarial businesses, and we will grow together by working together,” he said.
Source: Telangana Today