Wealth management start-up Smallcase raises $40m in Series C funding
Indian fintech start-up Smallcase has raised $40 million in a Series C funding round led by Faering Capital.
The start-up currently claims more than 3 million users
The round also included participation from e-commerce giant Amazon and Premji Invest, as well as existing investors including Sequoia Capital, Blume Ventures, and HDFC Bank, among others.
Founded in 2015 in Bangalore, the firm has now raised around $62 million in total capital.
Smallcase provides investment products and platforms designed to act as a gateway for new investors to access Indian capital markets.
It enables users to invest in “smallcases”, which are described as portfolios of stocks or ETFs “weighted intelligently to track a theme, strategy or objective”.
The start-up currently boasts more than 3 million users and facilitates $2.5 billion in annual transactions.
Vasanth Kamath, co-founder and CEO of Smallcase, says the new funds will be used to further develop his company’s product offerings.
In a blog post on the Smallcase website, he writes: “This financing increases our responsibility to continue building simple, transparent and delightful experiences and platforms, while delivering more value to our users and partners.”
