Smallcase Bags $50 Mn to Expand its Investment Product Offerings
In a significant development in the Indian fintech space, investment tech startup Smallcase has secured a whopping INR 428.1 crore in a Series D funding round led by Elev8 Venture Partners. The round also saw participation from prominent investors such as State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures. With this fresh capital infusion, Smallcase plans to expand its investment product offerings across various asset classes, including mutual funds and fixed income.
Founded in 2016 by Varun Sridhar and Mittal Patel, Smallcase is a Bengaluru-based fintech startup that has been disrupting the traditional investment landscape in India. The company’s platform allows users to invest in a diversified portfolio of stocks, ETFs, and other securities with a minimum investment of just INR 5,000. Smallcase’s innovative approach has made it possible for individual investors to create a customized investment portfolio with a fraction of the cost and effort required by traditional investment advisors.
The Series D funding round is a significant milestone for Smallcase, which has already seen significant traction in the market. The company has grown its user base by over 500% in the past year, with over 1.5 lakh investors using its platform to manage their investments. Smallcase’s platform has also seen a significant increase in the number of investment products offered, with over 300 products currently listed on the platform.
The fresh capital infusion will enable Smallcase to further expand its product offerings and reach a wider audience. The company plans to use the funds to launch new investment products, including mutual funds and fixed income securities. This will enable investors to diversify their portfolios across various asset classes and reduce their reliance on a single asset class.
The funding round is also a testament to the growing interest in fintech startups in India. The Indian fintech space has seen significant growth in recent years, with investors pouring in billions of dollars into startups that are disrupting traditional financial services. Smallcase’s success is a reflection of the growing demand for innovative investment products and services in India.
The company’s platform has already gained popularity among individual investors, who are looking for a more efficient and cost-effective way to manage their investments. Smallcase’s platform uses advanced algorithms and machine learning techniques to create a customized investment portfolio for each user. This approach has proven to be more effective in managing risk and generating returns than traditional investment products.
The funding round will also enable Smallcase to expand its team and improve its technology infrastructure. The company plans to hire more engineers, developers, and investment professionals to enhance its platform and improve its customer support. Smallcase also plans to invest in its technology infrastructure to ensure that its platform can handle the increasing traffic and user base.
The Series D funding round is a significant milestone for Smallcase, which has already made a significant impact in the Indian fintech space. The company’s innovative approach to investment products has disrupted the traditional investment landscape and provided individual investors with a more efficient and cost-effective way to manage their investments. With the fresh capital infusion, Smallcase is well-positioned to further expand its product offerings and reach a wider audience.
Source: https://inc42.com/buzz/smallcase-bags-50-mn-to-expand-its-investment-product-offerings/
