With the boost of the investment platform Zerodha during the pandemic, the integrated investment tech startup SmallCase have seen a significant rise too. Recently, SmallaCases raised a funding of Rs 99 crores in a Series B round. The funding was raised by providing a mix of equity and preference shares from big investors.
About Tech startup SmallCases
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.
Details about the funding
A lot of notable investors participated in the Series B round of the startup. 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%.
Chanaya Value Creation, QED Innovations Lab, Relativity Investment Advisors’ Nakul Zaveri, Universal Trustees Private, and even the AIB founder Tanmay Bhat are some other investors who also gave their input in the round. The company has 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.
Even before the pandemic, the investment tech Startup Smallcase was doing quite well and raised $8 million in a Series A round. At present, they claim to have over 1.5 million investors on their platform with a total investment amount of INR 5000 crores.
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