A: Hey Yuki, what's up?

B: Oh, just browsing the news, you?

A: I found something interesting about Qapita, a startup from Singapore! They raised $26.5 million in a Series B round led by Charles Schwab!

B: No way! What does that mean?

A: So, Charles Schwab introduced a new platform called Schwab Private Issuer Equity Services powered by Qapita. It helps U.S. startups manage their cap tables, stock plans, and prepare for public listings.

B: Wow, that sounds helpful! Who founded this startup?

A: Qapita was started in 2019 by Ravi Ravulaparthi (CEO), Lakshman Gupta (COO), and Vamsee Mohan (CTO). They noticed many companies were still using spreadsheets to manage their cap tables, so they created a platform for that.

B: That's cool! How many companies use this platform now?

A: Qapita says it has about 2,700 companies using its platform, with roughly 70% based in India and 20% in Southeast Asia. They also serve private companies across the U.S., and they're excited to expand their presence here thanks to this partnership with Charles Schwab.

B: That's awesome! I wonder how they plan to compete against other similar startups in the U.S.

A: Ravi, the CEO, said that while there are a few options in the private market space in the U.S., they're not enough for such a large market. He thinks this partnership will help them stand out.

B: I see! So what else did they use this funding for?

A: They plan to enhance their platform by launching a fund admin product across multiple markets, and the funding from Charles Schwab will help with that too.

B: That sounds like a great plan! I'm excited to see how Qapita grows in the U.S.

A: Me too, Yuki! Let's keep an eye on them and catch up again soon!