Singapore-based equity management platform Qapita has raised $26.5 million in a Series B round led by Charles Schwab.
As part of the deal, Charles Schwab introduced a new platform called Schwab Private Issuer Equity Services, powered by Qapita. This allows U.S. startups to manage their cap tables, manage their equity plans, and prepare to go public.
Founded in 2019 by former bankers Ravi Lavraparthi (CEO), Lakshman Gupta (COO), and Vamsi Mohan (CTO) (pictured above, left to right), Qapita helps private companies track ownership, manage employee capital, and facilitate secondary stake sales. The startup serves private companies in Southeast Asia and the US, and also provides a platform for Indian listed companies to manage their shares once they go public.
Qapita started as a platform for managing cap tables after Ravulaparthi realized during his early banking career that many companies were still relying on spreadsheets. When the startup launched in January 2021, it expanded its platform based on early customer feedback to include stock management tools for employee stock plans that were initially released in beta. Competitor Carta later entered the Indian market but withdrew in 2023, giving Kapita space to strengthen its position.
The startup says it currently has about 2,700 companies using its platform. About 70% are based in India and 20% in Southeast Asia, including Singapore and Indonesia. Rabraparthi said in an interview that Kapita’s customers include about half of India’s unicorns.
Although Qapita offers free access to its platform to early-stage companies, about half of its users (about 1,400 companies) pay for at least one service, Ravulaparthi told TechCrunch.
In addition to India and Southeast Asia, the startup also has a small number of users in the US as part of early market testing. However, this partnership significantly expands our presence in the United States.
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“Of course, the U.S. is a very large market. There are some options in the U.S. private market space, but there are too few for a market of that size,” Labraparti said of competitors.
Charles Schwab already handles equity plans for major publicly traded companies. But the deal provides a foothold for private companies to compete for startups with Carta, Pulley or Morgan Stanley’s Shareworks.
The platform provides stock management tools to automate cap table processes, create reports and dashboards, and link with other financial systems. It will also integrate with Schwab’s wealth management network, allowing companies and employees to manage stock plans and prepare for IPOs.
Qapita’s Series B also included participation from existing investors Citi and MassMutual Ventures. The funding will also help the startup strengthen its platform by launching fund management products across multiple markets.
To date, the startup has raised more than $80 million in funding and has 300 employees.
