Singapore-based ESOP management startup Qapita wins East Ventures backing

Singapore-based digital equity management startup Qapita said it has raised an undisclosed amount of strategic investment from East Ventures.

(From left) Qapita co-founders Vamsee Mohan, Ravi Ravulaparthi, and Lakshman Gupta / Photo credit: Qapita

Founded in September 2019, the startup helps companies manage capitalization tables and employee stock ownership plans through its software-as-a-service offering QapMap.

Late last year, Qapita raised US$1.8 million in a seed funding round led by the Singapore arm of Vulcan Capital and several high-profile early-stage investors including Credence Capital chairman Koh Boon Hwee, K3 Ventures, and partners of the Northstar Group. The startup has since added senior talent to its team, including former bankers, venture capitalists, and equity management professionals.

Qapita said it will put the new funds into strengthening its team in Singapore, India, and Indonesia, as well as accelerating product development and building its clientele.

“East Ventures has a large, unparalleled footprint in the Indonesian startup ecosystem, and we look forward to working with them,” said Qapita co-founder and CEO Ravi Ravulaparthi. “The rapidly growing ecosystem in Indonesia will require digital management of equity, ESOP culture, employee liquidity programs, and a thriving secondary private market.”

See Also: Does Indonesia lack an ESOP culture?

Moving forward, Qapita aims to build more partnerships with other VCs with portfolio firms across India and Southeast Asia, adds the chief exec.

In its target markets, Qapita goes up against fundraising platform LetsVenture, which recently extended its ESOP management product MyStartupEquity outside of India to Singapore.