Funding in Equity management startup: The equity and shareholder management platform EquityList, on Monday, announced raising $2.2 million in seed funding round. The round witnessed the participation of investors such as AngelList India, Hustle Fund (maiden investment in India), Republic, Unpopular Ventures, Mana Ventures, Riverwalk Holdings, and Super Capital.
The angel investors such as Tanmay Bhatt, Ramakant Sharma (Livspace), Gajendra Jangid (Cars24), Sairee Chahal (Sheroes), Rangarjan Krishnan (Five Star Finance), Sajid Rehman (MyAsiaVC), Faiz Mayalkarra (KubeVC) among others, also participated in the funding round.
According to the release, the company plans to utilise these funds for talent acquisition and further expansion. EquityList is a full-stack equity and shareholder management platform, operational in India, Singapore and the United States.
The company manages equity for more than 10,000 shareholders and manages $950 million in stock options. The platform has been operational since 2020 in beta with AngelList India. The services included capital table management, stock options (ESOPs, SARs, RSU, etc.), data rooms, valuation services, and compliances.
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“EquityList started as an internal project within AngelList India, growing steadily with inbound leads for almost ~2.5 years. This year, we decided to double down on our product, considering the growing need for equity management and corporate governance. As founders build global businesses, there are inherent challenges in navigating the complexities of cross-border equity management, which EquityList specializes in solving. From a 5-member team till 2022, we are now a team of 11 people, spread worldwide in a remote-first opportunity,” said Kashish Sharma, CEO of EquityList.
The platform works with more than 260 companies including Blackbuck, Bizongo, Sugar Cosmetics, Slice, Cars24, Shiprocket, Smallcase, Ditto Insurance, and more.
“We believe there is a multi-billion dollar opportunity here, along with EquityList’s mission of democratizing technology to impact wealth creation significantly. EquityList is leading the way in advancing the maturity of the Indian startup ecosystem and is expanding its product offerings and presence worldwide,” said Utsav Somani, Partner at AngelList India.