ESOP management platform Qapita banks $5m in MassMutual-led round

Qapita, a provider of software-as-a-service solutions for employee stock ownership plan (ESOP) and capitalization table management, said it has raised US$5 million in a new round of funding.

More funding details

• Lead investor: MassMutual Ventures
• Returning investors: Vulcan Capital and East Ventures
• Other backers: Endiya Partners and angel backers such as Avaana Capital founder Anjali Bansal, Udaan co-founder Sujeet Kumar, and an unnamed CEO of an Indian decacorn
• Stage: Pre-series A

More company updates

• Qapita will use the new capital to onboard new engineering talent, invest in product development, and acquire new clients in India, Indonesia, and Singapore.
• The startup also shared that it has been building up its team to include senior talent from across the region, growing from six people in September last year to over 30 today.
• The new investment comes months after Qapita raised US$1.8 million of funding in September in a round led by the Singapore arm of Vulcan Capital.
• In February this year, Qapita said it received an undisclosed amount of strategic investment from East Ventures.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.