Fintech startup Smallcase recently raised $14 million in a Series B round led by the DSP group. Other existing investors, including Sequoia Capital India, Blume Ventures, WEH Ventures, and BEENEXT. With the COVID pandemic, the use of investment platforms has increased by a significant margin. And with these platforms, usage of SmallCase has seen a significant increase too.
About Fintech startup SmallCases and their vision
Image Source: Small cases
The company was started in 2016 by Vasanth Kamath, Anugrah Srivastava, and Rohan Gupta. Small cases bring in professionally managed stocks portfolio and ETFs to its users that they can invest in without much thought. Other than Zerodha, the startup also works with Edelweiss, HDFC securities, Axis Direct, and more. So, we can see how the company is getting so much exposure.
Vasanth Kamath, the founder of CEO of smallcase, said, “Our mission is to develop simple and transparent investment products for the Indian retail investor, and in the last few years, we have built a unique brand and have some of India’s most respected financial institutions as strategic partners to further this goal.”
Details about the funding
Many notary investors participated in the Series B funding round. These investors were SP Asset Management Firm, BEENEXT, Milestone Trusteeship Services, and Unitary Funds Sequoia’s SCI Investment V. Presently, Sequoia owns a 20.71% shares of the startup, and BEENEXT owns 7.28%. Kunal Shah (founder of Cred), Utpal Sheth (CEO at Rare ventures), and Akram Ventures also participated in the funding event.
QED Innovations Lab, Chanaya Value Creation, Universal Trustees Private, Relativity Investment Advisors’ Nakul Zaveri, and even the AIB’s founder Tanmay Bhat are some other investors who also took part in the investment round. The company had allocated shares at face value Rs 10 and Rs 50, respectively. And the premium above that was Rs 96,295 and Rs 96,255, respectively.
Growth and Future prospects of Smallcase
The startup SmallCase has scaled up its customer base by over 8 times within the last two years. Presently, they have over 1,5 million investors on their platform who have made transactions worth over Rs 5000 crores. And with the integration of the platform on so many quality investments platform, the company expects much better growth in the future.
And talking about their Vision Anugrah Shrivastava, Founder, and CEO, smallcase said, “With complete transparency and control, an investor can build a long-term portfolio with smallcases. We will continue to develop and enable more innovative and relevant investment products for individual investors in India”.
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