[Funding alert] Singapore-based fintech startup Qapita raises $1.8M in seed round led by Vulcan Capital

Singapore-based fintech and legaltech startup Qapita announced on Monday, September 7, that it has raised a seed round of $1.8 million. The round was led by Vulcan Capital. Early-stage investors Alto Partners Multi Family Office, Atin Kukreja (CEO of Rippledot Capital), Koh Boon Hwee, K3 Ventures, KDV Holdings, Mission Holdings and multiple Northstar Group Partners, including Patrick Walujo, also participated in the round.

Qapita will be using the freshly raised funds to strengthen and built its team. Additionally, the funds will be used to accelerate product development and build the fintech startup's client base.

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Tommy Teo of Vulcan Capital said in a statement:

“Qapita is setting out to build a best-in-breed equity management platform for private companies and startups. The platform will empower all equity stakeholders to digitally manage their holdings in this region, where each country has its own unique regulatory landscape. We see the founding team’s commitment, network, deep understanding of these markets, and the potential of the software platform as a winning combination."

Founded in 2019 by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan, Qapita provides digital equity management tools for private companies and startups. Its platform — QapMap, is designed to enable capitalisation table management, employee stock ownership plan (ESOP) management, and digital ESOP issuance with the aim of eventually enabling digital share issuance for companies across the region. Qapita has its India office in Hyderabad.

Co-founder and CEO Ravi said, "We launched the company seeing the opportunity to tap into the rapid growth of startups, angel investments and employee ownership in Southeast Asia and India. Having worked alongside multiple founders and startups during their fundraising journeys, we recognised the huge gaps that exist in digitising ownership records...We also believe the platform will encourage more employee equity ownership in startups. The ESOP value proposition should be as simple as a pay slip.”

Qapita is also building digital share issuance capabilities on the platform, which will enable firms to issue shares digitally. The startup plans to initially serve its customers in Singapore, India and Indonesia, before expanding into other markets.

"With high growth companies remaining private for longer, we believe digital equity management and liquidity solutions to be a multi-billion dollar opportunity," Tommy Teo added.