Software-as-a-service (SaaS) startup, Qapita, on Tuesday said it has raised $5 million as part of its Pre-Series A round led by MassMutual Ventures.
Endiya Partners, along with other angel investors, including Anjali Bansal, founder of Avaana Capital, and Sujeet Kumar, co-founder of Udaan, also invested in this round.
According to the company, the fresh funding will be used to add engineering talent, accelerate product development and build clientele in India, Indonesia and Singapore.
“Over the last six months, more than a hundred startups have agreed to onboard with Qapita and manage their equity ownership on our software platform. New features will help us address pain points of not only startups and investors but that of all stakeholders in the ecosystem,” said Lakshman Gupta, chief operating officer and co-founder of Qapita.
Qapita helps private companies and startups record and manage their capitalisation tables (cap tables) and employee stock ownership plans (ESOPs), while digitising issuance of equity awards and shares.
“Qapita is enabling this in the region through their solution – from cap table and stakeholder management to digital share issuances and liquidity solutions. We believe the team has the right combination of experience, understanding of regional markets and product expertise to deliver on their vision,” said Anvesh Ramineni, managing director of MassMutual Ventures.
The current fundraise comes just six months after the startup had raised its seed round led by Vulcan Capital and EastVentures in September 2020.
Post the fundraise, the startup also increased its team size to over 30 individuals, spread across various geographies.
“Wealth creation happens substantially through equity in the startup ecosystem. Through our captable, ESOP and liquidity solutions, we want to enable founders not only to offer equity to more stakeholders (including employees) but also provide faster liquidity. This will enable them to accelerate the flywheel of reinvestment into the rapidly growing startup ecosystem in India, and Southeast Asia,” said Ravi Ravulaparthi, chief executive officer and co-founder of Qapita.
