Charles Schwab backs Singapore’s Qapita, a Carta challenger

CupitaSingapore -based Equity Management Platform, Charles Shoab, has collected $ 26.5 million in a series B Round.

As part of the agreement, Charles Swab launched a new platform called Private Issure Equity Services – powered by Kapita – which our startups managed their cap tables, manages stock plans and prepare for public list.

Lakshman Gupta (COO) and Vamsi Mohan (CTO) (above, left to right), established by former banker Ravulaparthi (CEO) in 2019, helps to track ownership of Capta private companies, manage employees and sell secondary shares. Startup serves private companies across Southeast Asia and the United States and provides its platform to manage the equity after public for companies listed in India.

Kapita started as a platform to handle the cap table after Ravulaparthi during her previous banking career, noticed that many companies still depend on spreadsheets. When the startup was launched in January 2021, it initially expanded the platform on the basis of primary customer response to include an equity management equipment for the employee stock plan in Bita. The contestant Carta later entered the Indian market but left in 2021, giving Kupita the room to strengthen its position.

The startup currently has about 2,700 companies using its platform, it says. About 70% is based in India and 20% based in Southeast Asia, including Singapore and Indonesia. Ravulaparthi said in an interview that Kupita had calculated about half of India’s unicorn in her customers.

Although Kapita provides free access to its platform for companies in the early stages, about half of the users-1,400 companies paid for at least one service of the company, Ravulaparthi told Techchen.

In addition to India and Southeast Asia, there are several users in the United States as part of the early market examination. However, this partnership will extend significantly to the US’s presence in the United States

“Of course, the United States is a very big market. There are a few options in the private market in the United States but they are very low for that size market,” Ravulaparthi said about the competitors.

Charles Swab already manages stock plans for major government agencies. However, this agreement allows it to compete for startups with the share work of Carta, Puli, or Morgan Stanley with private companies.

The platform will provide equity management equipment to automat the cap table processes, create reports and dashboard and link with other financial systems. It will be associated with the Wealth Management Network of the Shabb, enable companies and their staff to manage stock plans and prepare for IPOs.

The Kapita series also included the participation of her existing investors, City and Masmutual Ventures. This fund will launch a fund admin product throughout multiple markets and help enhance the startup its platform.

To date, the startup has raised more than $ 80 million funds and has a headcount of 300 employees.