SE Asia Digest: Qapita rases $1.8m; VietMoney closes Series A

Co-founders of Qapita: (L-R) Vamsee Mohan, Ravi Ravulaparthi and Lakshman Gupta.

Singapore-based fintech startup Qapita is raising $1.8 million in a seed round while Vietnam-based pawn service VietMoney has closed its Series A funding.

Qapita raises $1.8m seed funding led by Vulcan Capital

Singapore-based fintech and legal-tech startup Qapita has raised a $1.8-million seed round led by Vulcan Capital, the former has announced.

Early-stage investors Alto Partners Multi-Family Office, Rippledot Capital CEO Atin Kukreja, Koh Boon Hwee, K3 Ventures, KDV Holdings, Mission Holdings and several Northstar Group partners including Patrick Walujo, participated in the funding.

Founded in 2019, Qapita provides a digital equity management software that helps manage capitalisation tables and employee stock ownership plans (ESOP). The company said it will also enable the digital issuance of ESOPs and shares.

“Having worked alongside multiple founders and startups during their fundraising journeys, we recognised the huge gaps that exist in digitising ownership records,” said Ravi Ravulaparthi, CEO and co-founder of Qapita.

“If records are systematically digitised today, then transactions can be digitised in the future. We also believe the platform will encourage more employee equity ownership in startups,” he continued.

Qapita will use the seed funding proceeds to strengthen its team, accelerate product development and build its client base. The startup has offices in India and Singapore, and will initially serve customers based in Singapore, India and Indonesia before expanding into other markets.

Vietnam-based pawn service VietMoney closes Series A

Vietnamese pawnshop operator VietMoney has snagged a Series A funding from Probus Opportunities and local investor Digi Ventures, according to an announcement.

The two investors will hold a combined 30 per cent stake in the company and join its board of directors. The value of the investment was not disclosed.

Established in 2016, Vietmoney currently runs 16 stores in Ho Chi Minh City under an O2O model. The company claims to have more than 20,000 regular customers. The Series A financing will allow Vietmoney to expand its network to 100 branches across 28 cities and provinces nationwide, founder Trinh Van Phuong said.

“With more than 50 per cent of Vietnam’s population lying in the subprime market segment, there is a clear need for access to transparent and accessible finance,” said Marc Lavoie, who oversees Probus’ operations in East Asia and the Pacific.

Probus Opportunities is an investment fund of Swiss-based Probus Group. The firm invests in listed and unlisted companies in emerging markets and has funded Vietnamese companies such as FPT Corporation and Digiworld JSC.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.