The News Scroll 20 April 2021  Last Updated at 9:51 pm | Source: PTI

Qapita raises USD 5 mn in funding from MassMutual Ventures, others

Qapita raises USD 5 mn in funding from MassMutual Ventures, others
New Delhi, Apr 20 (PTI) Qapita, a provider of ESOP and cap table management SaaS solutions, on Tuesday said it has raised USD 5 million in funding led by MassMutual Ventures.

Hyderabad-based venture capital firm Endiya Partners and angel investors including Anjali Bansal (founder of Avaana Capital), Sujeet Kumar (co-founder of Udaan) and CEO of an India-based decacorn also invested in this round, a statement said.

Qapita helps private companies and startups record and manage capitalisation tables (cap tables) and employee stock ownership plans (ESOPs). It also aims to digitise issuance of equity awards and shares.  

The pre-series A fundraise follows closely on the heels of its seed round raised from Vulcan Capital, East Ventures and others in September last year.

This fresh funding will be used to add engineering talent, accelerate product development and build clientele in India, Indonesia and Singapore, the statement said.

"Over the last six months, more than a hundred startups have agreed to onboard with Qapita and manage their equity ownership on our software platform.

"New features will help us address pain points of not only startups and investors but that of all stakeholders in the ecosystem. We are looking to partner with various service providers including law, accounting and company secretarial firms and we will grow together by collaborating," Lakshman Gupta, COO and co-founder of Qapita, said. PTI SR ABM ABM

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
Next Story :
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store