A private equity firm in Singapore Everstone Capital has injected Rs. 1,381 crore through a rights issue by existing minority shareholders. Wingify will be invested in the parent company of VWO. It acquired a majority stake in Wingify in January 2025, with a $200 million deal, in one of the largest SaaS deals, which became a major milestone for the startup.
Investment Rounds of Everstone Capital and Wingify
At Wingify, the board has allotted 16,08,199 equity shares at an issue price of Rs 8,590 for each to raise the total sum, according to the total filing with the Registrar of Companies (RoC).
Everstone Capital led an investment round of Rs 1,250 crore (approx. $135 million), followed by Vyom Mankekar, who also had a round of Rs 84 crore. The remainder was contributed by existing shareholders, including Shivanand Mankekar, Jt. Laxmi Mankekar, Kedar Mankekar, CEO Sparsh Gupta, and others.
Merger of VWO and AB Tasty
The fund infusion comes with Wingify’s VWO, and AB Tasty, who have signed a definitive agreement for a merge, aiming to build a scaled digital experience optimization platform. The platform will have a strong presence in the US and Europe.
Wingify has abstained from giving any comments on this.
Wingify was founded in 2010, and provides SaaS solutions that help online businesses optimize the rates of conversion through Visual Website Optimizer (VWO), a proprietary tool.
As of March 31, 2025, Everstone Capital held a 76.84% stake, followed by former co-founder Paras Chopra with 10.45%. Vyom Mankekar and CEO Sparsh Gupta held 5.07% and 4.86% respectively. The full impact of Everstone’s acquisition will reflect in Wingify’s FY26 financial results. The SaaS firm reported a sharp decline in profitability in FY25, where the profit dropped down 60% due to an 88% surge in employee benefit expenses. The revenue however, rose 34% to Rs 386 crore in 2025.
In December 2025, Wingify acquired Blitzllama in an all-cash deal. After the acquisition, Blitzllama’s capabilities are being integrated into the VWO platform.