Online tech platform smallcase Technologies has announced that it has recieved USD 8 million Series A funding led by Sequoia India, with participation from existing investors Blume Ventures, Straddle Capital, Beenext Pte Ltd, WEH Ventures & DSP Adiko.
smallcase Technologies, the Bengaluru-based company which operates platforms for individual investors to invest in portfolios of stocks & ETFs (called smallcases) with their existing demat accounts, announced that it has raised USD8 million from leading investors.
“We are building smallcases as a new investment instrument class that helps you take portfolio exposure to stocks & ETFs while having no expense ratio, making them cost-effective. Since the underlying securities are held in the investor’s demat account, they have complete control & transparency into their investments. Our goal is to make smallcases the preferred investment option of the modern investor.” says Vasanth Kamath, CEO, and co-founder, smallcase Technologies.
smallcases are currently available on 5 of the largest & fastest growing brokerages including HDFC Securities, Zerodha, AxisDirect, Edelweiss & 5Paisa, and more partnerships are in the pipeline. Since the launch of the smallcases Platform in July 2016, a total user base of 2.5 lakh investors has transacted over Rs. 2000 crores through smallcases.
“As retail participation in equity investments grows in India, investors are increasingly looking for easy to understand, transparent, low-cost investment products,” said Harshjit Sethi, Principal, Sequoia Capital India Advisors. “Sequoia India is excited to partner early with them, working with smallcase as it pioneers a new way to invest in equity markets, and grows rapidly on the back of its partnerships with top brokerages in India.”
The smallcase team of Vasanth, Anugrah and Rohan are building an innovative set of equity investment products that will shape the choices of the next generation of public market investors”, said Karthik Reddy, Managing Partner, Blume Ventures. “By creating simplicity and transparency for direct investors, investment advisors and brokerage houses to offer low-cost equity investing, they've quietly risen to $100s of millions of portfolio construction in a short period. We hope to see them at the forefront of equity market development. We are happy to see Sequoia join the journey."
Deepak Gupta, Founding Partner, WEH Ventures also commented, "India's investors need better ways to invest via transparent, low-cost, easy to use products. smallcase is on a mission to fulfill this need, and we are delighted to back them on this journey."