The fintech startup Qapita that provides software to manage company's equity, has secured an undisclosed strategic investment from venture investor, East Ventures.

The funds will be used to strengthen the team in Singapore, India, and Indonesia, and to accelerate product development and build its client base.

The new funding follows a US$1.8 million seed round by Vulcan Capital and other investors such as Koh Boon Hwee, the Kuok family office K3 Ventures, and partners of the NorthStar Group. Since then, Qapita has expanded its team to include former bankers, venture capitalists, and equity management professionals.

Qapita was founded to reduce inefficiencies in private-market ownership and transactions. Founded in 2019, it helps private companies and startups manage capitalization tables and employee stock ownership plans (ESOPs). It also aims to digitize issuance of equity awards and shares.

The Chief Executive and Co-founder Ravi Ravulaparthi said: "The rapidly growing ecosystem in Indonesia will require digital management of equity, ESOP culture, employee liquidity programs, and a thriving secondary private market. Qapita can contribute to this need with its software platform."

Willson Cuaca, Co-founder and Managing Partner of East Ventures, said: "Qapita solves the classic cap tables management problem that are constantly faced by startup founders in the region. We believe the digital equity management Software as a Service (SaaS) solution provided by the company will soon be widely adopted."