Qapita, a Singapore and Bengaluru-based fintech startup said it has appointed Skanda Jayaraman, former Head of Investment Banking at Spark Capital to lead Qapita’s marketplace for private securities, the company said in a statement.
Jayaraman would oversee the launch of the Qapita marketplace, including liquidity solutions to the employees, and early investors on Qapita’s customers’ captables. He brings an understanding of private market transactions and an extensive network of relationships in the VC and PE community, the statement said.
Jayaraman previously led Spark Capital's investment banking branch until he resigned in July. He led negotiations and closed acquisitions in a variety of industries, including healthcare services, while at the investment bank.
Before Spark Capital, he worked in Standard Chartered Bank (Singapore) and PricewaterhouseCoopers, according to his LinkedIn profile.
The appointment comes post-Citi’s backing of Qapita as part of its Series A round.
“Qapita has assembled an excellent multi-disciplinary team to solve this complex problem at scale. Excited to be building a tech-powered platform to unlock liquidity solutions in a soon-to-be trillion-dollar private market. I look forward to working alongside the founders Ravi, Lakshman and Vamsee to build Qapita into a leading platform,” Skanda Jayaraman said.
Operated by Qapita Fintech India Pvt Ltd, the company was founded by Ravi Ravulaparthi, Lakshman Gupta, and Vamsee Mohan in 2019. Its platform allows private companies to manage their capitalisation tables and ESOPs. The startup says it will also enable the digital issuance of ESOPs and shares.
“There cannot be a better time to build an operating system in a marketplace for private securities. Qapita will continue to invest in talent and capabilities across SaaS, capital markets, and digital ledger technology. Skanda is an experienced leader who can guide this intersectional team,” said Ravi Ravulaparthi, CEO and Co-founder of Qapita.
Earlier, Qapita announced a $15 million (Rs 111 crore) Series A fund round, led by East Ventures through its growth fund and Vulcan Capital, with participation from NYCA and other existing investors, including MassMutual Ventures and Endiya Partners.