Singapore-based Qapita, provider of equity management SaaS solutions today announced it has raised a Series A round of US$ 15 million (approximately 213 billion rupiah). This round is co-led by Indonesia-based East Ventures (Growth Fund) and Vulcan Capital, with participation from NYCA and other existing investors including MassMutual Ventures, Endiya Partners. Several existing angel investors including Alto Partners, Partners of the Northstar Group and K3 Ventures invested in this round. This round will see Qapita expand its operations in Indonesia.
Previously, Qapita had raised US$ 5 million in a Pre-Series A round and US$ 2.25 million in a Seed round in April 2021 and September 2020 respectively. With the proceeds from this funding round, Qapita plans to add more products to its platform that will not only provide solutions for private companies and start-ups, but also to investors, shareholders and employees. Qapita also plans to facilitate liquidity solutions via a digital marketplace enabling transactions for companies between their investors and employee stakeholders. With this latest round, Qapita will amplify its client base across Singapore, Indonesia and India.
Qapita is founded by three experienced Co-Founders, each with over twenty years of experience in investment banking, corporate venture capital, and technology sectors. Qapita serves customers across India, Indonesia, and Singapore. They identified an opportunity to use technology at the confluence of three megatrends – rapid growth in the number of start-ups, expansion in the amount of venture capital and digitization in finance across this region. The team has grown from seven people twelve months ago to about 65 people today across Singapore and India. Qapita plans to scale up talent across India, Indonesia and Singapore in the near future.
Qapita expects the value of private securities in this region to exceed US$ 1.0-1.5 trillion (with 200-250 unicorns) in the next few years and that scalable digital solutions will be critical for such an ecosystem to thrive. Qapita’s equity management software solves pain points relating to HR (ESOP), finance and fundraising for private companies, investors, shareholders and employees. Its marketplace will enable secondary transactions for these stakeholders. Qapita estimates that more than US$ 150 billion of equity will need liquidity solutions.
Announcing the same, Ravi Ravulaparthi, CEO and Co-Founder of Qapita, said, “Indonesia is one of the fastest growing private markets in the world. It is an incredible time to build an operating system and transaction rails for private company ownership in this region. This is about leveraging tech to enhance transparency, access, efficiency and liquidity in private markets. The platform will also empower employees of Indonesian start-ups in terms of ownership of their companies. Team Qapita is full of gratitude to our Indonesian shareholders and partners in supporting us on this quest.”
Willson Cuaca, Co-Founder and Managing Partner of East Ventures, shared, “East Ventures is excited to double down its investment in Qapita to build an operating system for private markets in this region. This platform can become the connective tissue between private companies, their employees, shareholders and investors on all equity related matters. The start-up ecosystem in Indonesia and the broader region is growing at a rapid pace. We are happy to accelerate the mission of Team Qapita in capturing this opportunity, starting with the support of our seed fund and continuing with the growth fund.”
Tommy Teo, Managing Director of Vulcan added, “We are very excited to continue our journey with Team Qapita. Capital formation is at a major inflection point in our markets and Qapita is poised to go from strength to strength as a key enabler in this rapidly expanding ecosystem. The development of Qapita’s platform since our initial seed investment in 2020 points to a clear market need for a whole-of-enterprise approach to support all stakeholders across a company’s lifecycle. We couldn’t be more pleased to support Ravi, Lakshman, Vamsee and the Qapita team in building the pre-eminent platform for private markets here in Asia.”