trica
Trica, now part of Vestd, provides SaaS for cap table and ESOP management, plus valuation services and a curated liquidity network, serving 800+ startups across India, Singapore and the US.
- Company typePrivate
- Founded2021
- HeadquartersMumbai, India
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What trica does
Trica (legally operating as Vestd App Private Limited since 2024) is an India-headquartered equity management SaaS company spun out of LetsVenture in 2021 and serving startups from seed to IPO-ready stage. Its core products comprise ESOP Management software (digital grant, exercise, buyback, vesting and performance-based plans including SARs, phantom stocks, RSA and RSU), Cap Table Management software (investor records, securities issuance, DEMAT support, scenario modelling and compliance reporting), Trica Capital (a liquidity and investor intermediation layer connecting growth-stage companies with a curated network of 400 UHNIs and 200 family offices), and Valuation Services (409A, IBBI registered valuer and merchant banker certificates). The platform is ISO 27001 certified, supports digital signatures and DSC, and employs a private blockchain document vault for tamper-proof records; it operates across India, Singapore and the United States.
The business model combines subscription SaaS for the cap table and ESOP modules with transaction-fee revenue on Trica Capital liquidity events and professional-services fees on valuation engagements. Go-to-market is hybrid: self-serve PLG signup at app.tricaequity.com for SMB startups, enterprise field sales with dedicated onboarding for larger and growth-stage accounts, and community-led engagement via WhatsApp groups, blogs and open-source ESOP templates. Pricing is quote-based and not publicly disclosed; the open-source ESOP scheme generator is positioned as a top-of-funnel acquisition tool.
The company was acquired into Vestd App Private Limited in 2024, integrating its India-centric equity stack with Vestd's sharetech platform; LetsVenture remains the originating parent organisation. The company reports 1,000+ startup customers including 12 unicorns, $20B in equity under management, 2,500+ investors on cap table, and a 21,000+ employee base, with named logos spanning fintech, HR tech, consumer, edtech, SaaS and hospitality verticals. Revenue, headcount above the leadership team and post-2021 funding rounds are not publicly disclosed.
trica firmographics
Firmographics- Name
- trica
- Legal name
- Vestd App Private Limited
- Website
- https://trica.co
- Company type
- Private
- Founded year
- 2021
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- Trica, now part of Vestd, provides SaaS for cap table and ESOP management, plus valuation services and a curated liquidity network, serving 800+ startups across India, Singapore and the US.
- Ownership category
- akta.pro rank
trica industry classification
Industry- Product category
- Equity Management Software
- NAICS
- Miscellaneous Intermediation (52391), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Services-Management Consulting Services (8742)
- akta.pro primary industry
- Regulatory Change, Governance & Compliance Management (GRC) (FSACAJAK)
- akta.pro secondary industries
- Governance, Risk & Compliance (GRC) Platforms (BPAEAPAA), Compliance Technology, GRC Platforms & Controls Automation Advisory (BPAHAFAO)
Keywords
Where trica is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
trica business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Revenue model
- SaaS Subscription - ESOP Management: Subscription-based software for ESOP management including grant issuance, vesting schedules, exercise, and buyback management. Pricing not publicly disclosed, quote-based.
- SaaS Subscription - Cap Table Management: Subscription for cap table management including investor tracking, securities management, and compliance reporting.
- Liquidity and Transaction Facilitation: Facilitating liquidity events for employees and early investors through curated network of family offices and UHNIs. Platform enables periodic liquidity events for growth and late-stage companies.
- Valuation Services: Provides valuation certificates through registered valuers, merchant bankers, and 409A valuations for a fee.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Not disclosed | ESOP Management SaaS - Enterprise tier |
| Subscription | Not disclosed | Cap Table Management SaaS |
Go-to-market motion4 records
Distribution channels3 records
Marketing channels5 records
trica product offering
Product offeringCore offering
Trica (Trica Equity, now part of Vestd) provides a SaaS platform for managing equity in private companies, including ESOP administration (digitising grants, exercises, and buybacks), cap table management (digital share issuance, DEMAT support, scenario modelling), private market transaction facilitation through a curated investor network, and valuation services. The platform serves startups across India, the US, and Singapore.
Product overview
Trica (trica equity, now part of Vestd) offers a unified equity management platform comprising four integrated products: ESOP Management & Liquidity Software for digitizing grants, exercises and buybacks; Cap Table Management Software for managing investors, issuing securities and fundraise modeling; Trica Capital for portfolio & fund management connecting growth startups with investors; and Valuation Services providing 409A and certified valuations. The platform supports companies across India, US and Singapore, serving over 800 companies with $20B equity under management.
Differentiator
Problem solved
Functional benefit
Products and services
- ESOP Management & Liquidity Software A software platform for managing employee stock option plans including digitising grants, exercises, buybacks, and ESOP scheme generation. Supports companies in India, US and Singapore.
- Cap Table Management Software A platform for managing cap tables, issuing digital shares, handling DEMAT support, round modelling, and maintaining shareholder records with compliance reporting.
- Trica Capital Portfolio and fund management platform for investors offering direct investments, unique funds, global investments, and portfolio management services. Connects growth startups and pre-IPO companies with investors including family offices, UHNIs and funds.
- Valuation Services Provides valuation certificates including 409A valuations, merchant banker certificates, and IBBI registered valuer certificates for equity share issuance, ESOP grants, and fundraises.
Quantifiable outcome
- Trusted by 1000+ startups including 12 unicorns
- +4 more outcomes
Companies that use trica
Customer profileNamed customers18 records
Segments5 records
Ideal customer profiles3 records
trica technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
trica partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- LetsVenturecoreTrica is a new entity from the house of LetsVenture. Founded in 2013, LetsVenture created India's most active and trusted online investment platform for early-stage startups with $8B portfolio value, $100M funds raised, and 15,000 angel investors.
- VestdcoreTrica Equity has joined Vestd, an advanced sharetech platform. This partnership provides Trica users with an advanced platform built to take startup equity journeys from launch to scale. Trica is now part of Vestd App Private Limited.
Scale indicators13 records
Recent moves7 records
Expansion highlights5 records
trica competitors and assessment
Company assessmentDirect peers
- Capdesk: Equity management platform for private companies, with cap table, ESOP, and shareholder management. Closely aligned product and target customer (private companies managing equity) to Trica.
- Eqvista: Cap table and 409A valuation platform serving US and international startups. Directly overlaps Trica on cap table management and valuation certificate services, with comparable SMB-to-mid-market positioning.
- Vestd: UK sharetech platform that acquired Trica Equity in 2024. Directly comparable product offering (digital share issuance, ESOPs, cap tables) and is now the parent entity combining with Trica's India/Asia business.
- Pulley: Cap table management SaaS targeting venture-backed startups. Closely comparable to Trica on product (cap tables, scenario modeling, equity plans) and customer (seed-to-pre-IPO startups).
- Ledgy: European equity management platform for startups and scaleups. Comparable in product scope (cap tables, ESOPs, scenario modeling) and in supporting cross-border equity programs similar to Trica's India/US/Singapore coverage.
- Carta: The dominant global cap table and equity management platform. Competes directly with Trica in ESOP administration, cap tables, and 409A valuations, and is expanding into India/SEA — directly challenging Trica's home market.
Regional players
- Quicko: India-focused tax and compliance platform for startups. Adjacent rather than directly competing, but overlapping on the compliance reporting layer for Indian private companies — a credible substitute for some of Trica's compliance features.
Broad incumbents
- AngelList: Private market platform for startup investing, fund formation, and talent. Adjacent competitor to Trica Capital's investor-matching and liquidity-facilitation layer, with broader scope but overlapping investor network effects.
- Shareworks (Morgan Stanley at Work): Incumbent equity plan administration platform now part of Morgan Stanley at Work. Overlaps with Trica on equity management for larger, more established private and public companies; broader portfolio but less specialized in early-stage startup cap tables.
Emerging players
- Cake Equity: Australian-headquartered equity management platform for startups and scaleups. Comparable product scope on cap tables, ESOPs, and scenario modeling, focused primarily on APAC markets where Trica also operates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
trica social profiles
Digital presencetrica compliance and trust
Trust signalCompliance1 record
trica financial estimates
Financial estimateRevenue estimate
Valuation estimate
trica leadership team
Management profileNumber of profiles
Profiles4 records
trica funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
trica M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about trica
What does trica do?
Trica (Trica Equity, now part of Vestd) provides a SaaS platform for managing equity in private companies, including ESOP administration (digitising grants, exercises, and buybacks), cap table management (digital share issuance, DEMAT support, scenario modelling), private market transaction facilitation through a curated investor network, and valuation services. The platform serves startups across India, the US, and Singapore.
Is trica a public or private company?
trica is a private company. It is classified as corporate owned and is currently acquired.
When was trica founded?
trica was founded in 2021. It employs 11 to 50 people.
Where is trica based?
trica is headquartered in Mumbai, India, in the Asia region.
How does trica make money?
Four revenue lines are on record. SaaS Subscription - ESOP Management is the primary driver. The others are saaS Subscription - Cap Table Management, liquidity and Transaction Facilitation and valuation Services.
Who are trica's main competitors?
Direct peers on record are Capdesk, Eqvista, Vestd, Pulley, Ledgy and Carta. Quicko is listed as a regional player. Broad incumbents are AngelList and Shareworks (Morgan Stanley at Work). Cake Equity is listed as an emerging player.
Does trica have an API?
No public API is recorded for trica.
What industry is trica in?
trica's product category is Equity Management Software. Its primary akta.pro industry code is FSACAJAK, Regulatory Change, Governance & Compliance Management (GRC), with a secondary code of BPAEAPAA, Governance, Risk & Compliance (GRC) Platforms. Its NAICS code is 52391 and its SIC code is 8742.