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Dubai-based CapQuest has raised $1 million in pre-seed funding led by Oraseya Capital and AMKM Family Office to develop its equity management software and expand internationally.
Founded by Antoine Bruna, Marco Banfi and Anvita Varshney, CapQuest helps businesses manage ownership records, employee share plans and fundraising transactions.
It serves customers across 11 countries, including Holo, which raised a $22 million Series A last year, erad, which secured the same amount last month, and Avenia, which raised a $17 million Series A in February.
Bruna and Banfi encountered the problem at Repeat, the restaurant-tech business they co-founded, which raised $12 million from 47 investors across three continents and had 63 employees on an equity plan. Bruna told FWDstart that maintaining spreadsheets, tracking employee entitlements and reporting to investors took increasing time away from running the business.
CapQuest brings those tasks into a single system, tracking how ownership changes as companies raise money, issue employee options and convert financing instruments into shares. Its scenario modelling tools let founders calculate the dilution from a proposed fundraising round before signing the documents, while employees and investors can view their holdings through the platform.
The founders spent eight months testing the idea with chief executives and finance chiefs at businesses ranging from early-stage startups to larger companies. They initially targeted the Middle East and Europe, although referrals and inbound enquiries also brought customers from Brazil, Singapore and the US.
The team is also developing a data room with document-sharing analytics and more structured investor reporting, giving founders additional tools to manage fundraising and subsequent updates to backers.
CapQuest charges according to the number of stakeholders a customer manages through the platform. Paying customers have access to all features, so bills only rise as companies add investors and employees.
Bruna also revealed that CapQuest is preparing to raise a separate $2 million Seed funding round, with the capital primarily directed toward accelerating its commercial expansion.
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