Aditya Hadi Pratama · · 1 min readESOP management firm Qapita wins Citi backing
Qapita, a Singapore-based employee stock ownership plan (ESOP) management platform, has raised an undisclosed amount of investment from Citi. The startup also secured a partnership with the global bank to support its private market trading platform.
The investment is part of Qapita’s series A round, adding to the US$15 million that it raised in October. The round was co-led by East Ventures and Vulcan Capital.
(From left) Qapita founders Vamsee Mohan, Ravi Ravulaparthi, and Lakshman Gupta / Photo credit: Qapita
Qapita’s platform lets companies manage their capitalization table and ESOP. The company also plans to roll out a feature that will allow investors to do transactions of private companies’ shares on the platform.
According to the startup, the value of the private securities market in Southeast Asia may exceed US$1.5 trillion in the next few years, with around 250 unicorn companies. Thus, it plans to secure similar partnerships with other financial institutions to develop its platform in Southeast Asia and India.
Qapita is founded by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan in September 2019. In April, it raised US$5 million in a pre-series A round led by MassMutual Ventures.
See also: Grab Vietnam ex-staffers ‘disappointed’ over offer to give up shares
Editing by Collin Furtado and Lorenzo Kyle Subido
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