The Singaporean fintech and legaltech startup Qapita on Monday announced that it raised USD 1.8 million in a seed round led by Vulcan Capital. Several early-stage investors such as Northstar Group’s co-founder and partner Patrick Walujo, Singaporean businessman Koh Boon Hwee, K3 Ventures, and others participated in the round.
The company will use the fresh money to strengthen its team, accelerate product development, and build a client base, according to a statement. Founded in 2019 by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan, Qapita aims to bring efficiency into private market ownership and transactions.
“Having worked alongside multiple founders and startups during their fundraising journeys, we recognized the huge gaps that exist in digitizing ownership records,” said CEO Ravulaparthi. “We also believe the platform will encourage more employee equity ownership in startups.”
Through its platform QapMap, users will be able to record and manage equity ownership and employee stock ownership plans (ESOP) accurately. Qapita also plans to develop a feature for the digital issuance of ESOPs and shares.
The startup currently has offices in Singapore as well as India, and intends to strengthen its presence there and in Indonesia first, before looking at other countries in the region.