Angel investors and syndicates are just some of the alternatives that tech startups can tap into for their fundraising. In its operations, angel investors and syndicates may face unique challenges, including dealing with hefty paperwork when setting up their syndicate or Special Purpose Vehicles (SPVs). This is the area where Auptimate aims to make a difference.

Auptimate is an online platform that aims to help angel syndicates, founders, and fund managers set up and operate SPVs and Syndicates. It has helped more than 70 syndicates and SPVs raise over US$40 million from at least 400 investors for deals across Southeast Asia, the Middle East, and Europe.

As a one-stop solution, Auptimate solutions do not require users to use different kinds of services for different purposes. It also offers a fully digital experience without needing papers or face-to-face meetings.

Since launching in 2022, Auptimate has been through the incubation programme with SMU IIE’s BIG programme and Accelerating Asia in 2023.

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In an email to e27, Auptimate co-founder Davin Dedhia explains that the company’s users consist of angel investors, syndicate leads, startup founders who are fundraising, and fund managers.

It has three different products catering to all of these users: Angel Syndicate, Founder SPV and Venture SPV for syndicates, startup founders and fund managers, respectively.

Auptimate charges a one-time set-up fee of US$500 for each of these three products. It also charged between US$6,000 and US$11,500 for the Angel Syndicate- this fee is to cover 10 years of coverage.

For the Founder SPV and Venture SPV, the company charges between US$750 to US$4,000 as annual recurring fees.

“We recently closed our 75th client and have onboarded over 400 investors on our platform. We are seeing a lot of network effect and are now seeing a lot of referral business coming in, thus enabling us to reduce our marketing spends.”

In reaching out to its potential users, Auptimate uses a multi-channel approach and reaches out to prospects via digital marketing channels as well as events.

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The company attempts to make its process as seamless as possible with the use of technology.

“We are investing heavily in technology and automation, which will require us to have fewer interactions with clients. This helps us not require a very large team to handle many clients,” Dedhia explains.

What’s in the future

There are many exciting things coming up for Auptimate in 2024. With the upcoming launch of more SPV products and fund administration, Auptimate aims to exceed US$1 million in revenue this year.

But for the company, that is not the only thing on their agenda.

“We are only a one-year-old startup, and our KYC and customer onboarding is already fully automated. We expect to focus on the three products we have for the large part of this year, and we see ourselves expanding into more regulated structures with Fund Administration,” Dedhia says.

“We are also going to expand our team with key hires across Sales, Operations and Technology functions to bolster our efforts to reach the milestone.”

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Image Credit: Auptimate

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