Qapita, a software-as-a-service (SaaS) platform centered on fairness and transaction administration for the non-public market, has secured a strategic partnership with Citi as a part of its Collection A spherical, the corporate mentioned in an announcement on Tuesday.
Earlier, Qapita had announced a $15 million ( ₹111 crore) Collection A fund spherical, led by East Ventures via its development fund and Vulcan Capital, with participation from NYCA and different current traders together with MassMutual Ventures and Endiya Companions.
The corporate mentioned the partnership with Citi will assist it speed up its platform. Qapita mentioned it plans to facilitate liquidity options by way of a digital market, enabling transactions for firms between traders and worker stakeholders.
Qapita mentioned it has constructed a cap desk and worker inventory possession plans (ESOPs) administration platform, and goals to launch a non-public firm market to supply one unified platform to its purchasers.
“The non-public market on this a part of the world is ready to be $1.0 – 1.5 trillion in worth. This market wants an working system and transaction rails to make it clear, accessible and environment friendly. This partnership with Citi will assist us speed up this mission. We sit up for extra such partnerships with ecosystem gamers,” mentioned Ravi Ravulaparthi, CEO and co-founder of Qapita.
Operated by Qapita Fintech India Pvt Ltd, the corporate was based by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan in 2019. Its platform permits non-public firms to handle their capitalisation tables and ESOPs. The startup says it should additionally allow the digital issuance of ESOPs and shares, the assertion mentioned.
Gupta, a graduate of the Indian Faculty of Enterprise, capabilities as Qapita’s chief working officer. He has labored with firms corresponding to Sony Leisure Tv and Tata Communications.
Mohan is an IIT-Madras alumnus, and serves because the startup’s chief know-how officer. His prior expertise contains roles at CAMP Programs and YASU Applied sciences. He additionally based Techbrix Software program.
In September final yr, the corporate raised $1.8 million in Seed funding led by Vulcan Capital, the funding arm of Microsoft co-founder Paul Allen.
Supply: Live Mint