- Qapita’s revenue soared to $8.9 million in FYE 2023.
- The company acquired ESOP Direct, becoming a market leader in India’s equity management space.
- Qapita plans to expand to the US and tap into Southeast Asia’s private securities market.
Qapita’s revenue growth
Singapore-based equity management platform Qapita has reported a significant increase in revenue, reaching US$8.9 million in the 15 months between January 2022 and March 2023 (FYE 2023), up from just US$14,800 in 2021.
However, the company also experienced a surge in total costs, leading to a wider post-tax operational net loss of US$5.4 million for the most recent period.
Founded in 2019, Qapita provides capitalization table and employee stock ownership plan (ESOP) management services to clients from over 40 countries.
The company’s revenue growth is attributed to its equity management services and its marketplace, which facilitates transactions in private market securities.
Expansion and acquisition
Qapita has become a market leader in India, with 45% of the country’s unicorns using its products.
In July 2022, Qapita acquired the Indian stock plan management firm ESOP Direct, enabling the company to scale significantly and compete effectively with regional and global players.
The acquisition allowed Qapita to serve a broader range of companies, from early-stage startups to post-IPO enterprises.
As a result, the combined entity has over US$12 billion in employee equity under management, reaching 130,000 employee-owners and serving more than 1,900 private companies and over 100 listed firms.
Future plans and markets
Looking ahead, Qapita is expanding to the US market and tapping into the potentially lucrative private securities market in Southeast Asia.
The company wants to help businesses remain attractive by incentivizing employees through ESOPs, streamlining a complex and time-consuming process.
To read the original article in its entirety: https://www.techinasia.com/qapitas-revenue-jumps-89m-fye-march-2023-losses-widen
