Everstone Capital acquires majority stake in Wingify

Singapore-based private equity firm Everstone Capital has acquired a majority stake in Wingify.

This is Everstone’s second significant investment in the marketing technology space in the past 18 months. The partnership includes a significant investment aimed at accelerating VWO’s product innovation and international growth, said Everstone.

Wingify is among a select set of highly profitable software companies emerging out of India that have carved a leading position globally, noted Sandeep Singh, Managing Director, Everstone Capital.

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Founded in 2010 by Paras Chopra, and Sparsh Gupta, Wingify has achieved over $50 million in ARR. The firm has considerable global market presence, with the US and Europe accounting for 90 per cent of revenue.

While Gupta and the leadership team will retain a significant equity stake in Wingify, Paras Chopra will remain a shareholder and continue to serve on the company’s Board.

Commenting on the partnership, Gupta stated, “We are confident that our partnership with Everstone will enable us to accelerate our expansion plans and further strengthen our global footprint. This paves the way for us to scale new heights in innovation and market reach.”