Qapita acquires ESOP Direct in an effort to grow in India and Southeast Asia
- ByStartupStory | July 27, 2022
ESOP Direct, a firm established in Pune, has been fully acquired by Singapore and Hyderabad-based equity management SaaS firm Qapita in an all-cash deal. As a result of the agreement, ESOP Direct and Qapita have merged to form a new company that will administer ESOPs valued at more than $12 billion.
After the acquisition, Qapita intends to enhance its technical and product teams by adding over 100 new employees. Additionally, it intends to grow its clientele by over 1,200 consumers and penetrate places like Bengaluru, Hyderabad, New Delhi, Mumbai, Pune, and Chennai. It also intends to expand to Southeast Asia, including Jakarta and Singapore.
Incorporated in 2019, Qapita offers startups and other private organisations equity management solutions like capable management and employee stock ownership management. It was founded by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan.
Qapita’s CEO and co-founder Ravi Ravulaparthi said, “This acquisition is a crucial step in realising our aim of establishing a single platform for all equity-related issues in an effort to provide the foundation for the private markets. We will be able to service customers throughout their entire lifetime, from incorporation through liquidity events to IPOs and beyond, by combining knowledge leadership with cutting-edge technology.”
Since its founding in 1999, ESOP Direct has provided equity-based compensation services, including the design, administration, and compliance of ESOP plans. On its platform My ESOPs, it has designed over 1000 plans in the last 20 years and managed over 500 schemes.
Harshu Ghate, the co-founder and managing director of ESOP Direct said, “Our two enterprises joining together would enhance one another’s strengths. Delivering downstream financial transaction services through a unified platform would benefit both our clients and staff. He described the move as a logical development of the company’s present business model and in line with current trends worldwide.”
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