Qapita, a Singapore-based fairness administration platform, has raised $26.5 million in a Sequence B spherical led by Charles Schwab.
As a part of the deal, Charles Schwab has launched a brand new platform referred to as Schwab Non-public Issuer Fairness Providers — powered by Qapita — which let’s U.S. startups handle their cap tables, administer inventory plans, and put together for public listings.
Based in 2019 by former banker Ravi Ravulaparthi (CEO) with Lakshman Gupta (COO) and Vamsee Mohan (CTO) (pictured above, from left to proper), Qapita helps personal corporations observe possession, handle worker fairness, and facilitate secondary share gross sales. The startup serves personal corporations throughout Southeast Asia and the U.S., and likewise offers its platform for listed companies in India to handle fairness after going public.
Qapita started as a platform to handle cap tables after Ravulaparthi, throughout his earlier banking profession, seen that many corporations nonetheless relied on spreadsheets. When the startup launched in January 2021, it expanded the platform primarily based on early buyer suggestions to incorporate an fairness administration software for worker inventory plans, initially launched in beta. Competitor Carta later entered the Indian market however exited in 2023, giving Qapita room to strengthen its place.
The startup at the moment has about 2,700 corporations utilizing its platform, it says. Roughly 70% are primarily based in India and 20% in Southeast Asia, together with Singapore and Indonesia. Qapita counts round half of India’s unicorns amongst its clients, Ravulaparthi mentioned in an interview.
Whereas Qapita gives free entry to its platform for early-stage corporations, about half of its customers — roughly 1,400 companies — pay for at the very least certainly one of its companies, Ravulaparthi advised TechCrunch.
Along with India and Southeast Asia, the startup has just a few customers within the U.S. as a part of its early market testing. Nevertheless, this partnership will considerably increase its presence within the U.S.
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“After all, the U.S. is a really giant market. There are just a few choices within the personal market area within the U.S., however they’re too few for a market of that dimension,” Ravulaparthi mentioned of opponents.
Charles Schwab already handles inventory plans for main public corporations. Nevertheless, this deal provides it a foothold with personal corporations letting it compete for startups with Carta, Pulley, or Morgan Stanley’s Shareworks.
The platform will present fairness administration instruments to automate cap desk processes, produce stories and dashboards, and hyperlink with different monetary methods. It would additionally tie into Schwab’s wealth administration community, enabling corporations and their workers to handle inventory plans and put together for IPOs.
Qapita’s Sequence B additionally included participation from its present buyers, Citi and MassMutual Ventures. This funding can even assist the startup improve its platform by launching a fund admin product throughout a number of markets.
Thus far, the startup has raised greater than $80 million in funding and has a headcount of 300 workers.
