In a strategic move to diversify and strengthen its retail investment offerings, InCred Money, the wealthtech arm of the InCred Group, has announced its acquisition of discount broking platform Stocko. This marks InCred’s official entry into India’s highly competitive and fast-growing retail broking market.
Although the company has not disclosed financial specifics, people familiar with the deal estimate it to be an all-cash transaction worth approximately INR 300 crore. The deal, however, is subject to regulatory approval. Once cleared, Stocko—currently operated by South Asian Stocks Limited—will be rebranded InCred Stocko and absorbed into the InCred Money ecosystem.
Credits: Startuptalky
Stocko: From SAS Online to a Broking Powerhouse
Founded in 2013 as SAS Online, Stocko has carved a niche among active traders with its ultra-low pricing model. It charges a flat INR 12.99 per order, and its subscription-based offering slashes the per-order cost to just INR 2.99. The platform boasts a daily notional turnover of over INR 1 lakh crore, highlighting its scalability and tech maturity.
Stocko offers trading in stocks, derivatives, commodities, and currencies, positioning itself as a cost-effective, high-volume platform for India’s emerging breed of do-it-yourself investors.
Strategic Fit for InCred Money’s Ambitions
For InCred Money, this acquisition represents much more than market entry—it’s a gateway to building a full-stack investment platform that caters to every aspect of an individual’s financial journey. The company, part of the larger InCred Group founded in 2016, has already established a strong presence in fixed deposits, bonds, and alternative investments.
By integrating Stocko’s proven trading infrastructure, InCred Money will be able to offer equity and derivatives trading, complementing its current portfolio. This move aligns with founder and CEO Bhupinder Singh’s vision of leveraging capital, technology, and a customer-centric approach to tap into India’s evolving investor base.
“India’s investment ecosystem is changing quickly. InCred Money will use its technology, capital, and customer-first approach to fully realise its potential if Stocko provides it with a tested platform with significant volume,” Singh stated.
The Stocko Team to Stay On
Leadership continuity is part of the plan. Stocko’s CEO, Shrey Jain, will continue to lead operations under the new banner of InCred Stocko. He believes InCred’s backing will provide the resources needed to scale faster and innovate further.
“Stocko will expand more quickly, innovate more vigorously, and provide more intelligent products—from improved margin financing to more advanced technology—with InCred’s support,” said Jain.
This seamless transition aims to retain Stocko’s existing user base while scaling operations to reach a broader audience under the InCred brand umbrella.
InCred Joins Fintech’s Full-Stack Race
With this move, InCred Money joins a wave of fintech platforms aiming to create end-to-end financial ecosystems. Companies like Groww and Paytm Money started with niche investment products and gradually expanded into full-service brokerage, wealth management, and advisory. InCred’s entry further intensifies competition in this rapidly evolving space.
This is also backed by financial strength. In December 2023, InCred Finance raised $60 million in a Series D round, propelling its valuation to over $1.04 billion and making it a unicorn. The company has since been in discussions for an IPO to raise approximately $470 million, with reported talks involving IIFL Securities, Kotak Mahindra Bank, and Nomura Holdings.
Credits: Entrepreneur
Final Thoughts
InCred’s acquisition of Stocko is not just a tactical acquisition—it’s a strategic alignment with the future of digital finance in India. With robust tech, a massive trading base, and a proven pricing model, Stocko gives InCred Money a ready-made foundation to disrupt retail broking. If regulatory approval comes through, InCred Stocko may soon become a household name in India’s investment landscape.
