Qapita, the equity management platform based in Singapore, has secured $26.5 million through a Series B round spearheaded by Charles Schwab.
The agreement involves Charles Schwab launching Schwab Private Issuer Equity Services — powered by Qapita — allowing U.S. startups to handle their cap tables, manage stock plans, and ready themselves for IPOs.
Established in 2019 by Ravi Ravulaparthi (CEO), a former banker, together with Lakshman Gupta (COO) and Vamsee Mohan (CTO) (pictured above, from left to right), Qapita assists private firms in monitoring ownership, handling employee equity, and facilitating secondary share transactions. Serving private companies in Southeast Asia and the U.S., the startup also provides its platform to listed companies in India for post-IPO equity management.
Qapita started as a platform for cap table management after Ravulaparthi noticed the prevalent use of spreadsheets during his banking career. Upon its launch in January 2021, the platform expanded based on initial customer feedback to incorporate an equity management tool for employee stock plans, initially in beta. Although competitor Carta entered the Indian market, it exited in 2023, allowing Qapita to solidify its market position.
The startup reports that around 2,700 companies are currently utilizing its platform, with approximately 70% based in India and 20% in Southeast Asia, including Singapore and Indonesia. Ravulaparthi mentioned in an interview that Qapita serves about half of India’s unicorns as customers.
While Qapita provides complimentary platform access to early-stage companies, approximately half of its users — about 1,400 firms — subscribe to at least one of its paid services, Ravulaparthi informed TechCrunch.
Besides India and Southeast Asia, Qapita has a limited number of users in the U.S. as part of its initial market trials. However, this partnership will significantly broaden its U.S. presence.
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“The U.S. market is, of course, substantial. While there are some options in the U.S. private market space, they are insufficient for a market of this scale,” Ravulaparthi commented regarding competitors.
Charles Schwab is already involved in stock plans for major public companies. However, this agreement allows it to gain traction with private companies, enabling it to compete with Carta, Pulley, and Morgan Stanley’s Shareworks for startup clients.
The platform will deliver equity management tools to automate cap table workflows, generate reports and dashboards, and integrate with other financial platforms. It will also connect to Schwab’s wealth management network, allowing companies and their employees to handle stock plans and prepare for IPOs.
Qapita’s Series B also saw participation from current investors Citi and MassMutual Ventures. The funds will also assist the startup in improving its platform by introducing a fund administration product across various markets.
The startup has, to date, raised over $80 million in funding and employs a team of 300.
