How Much Did smallcase Raise? Funding & Key Investors

What Is smallcase?

smallcase is a fintech company based in Bangalore, Karnataka, India. It offers an investment platform that allows users to invest in a basket of stocks and ETFs. The company operates in the financial services, fintech, stock exchanges, and wealth management industries.

Founded in 2015, smallcase has grown to employ between 251–500 people. The company has successfully raised funds through multiple rounds, with the latest being a Series D round in March 2025. smallcase provides various investment-related products and services, including themed portfolios, investment guides, and tools for searching stocks and mutual funds.

How Much Funding Has smallcase Raised?

1. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: 2015–2016 (exact date undisclosed)
   • Lead Investors: Rainmatter Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
2. Series A
   • Amount Raised: USD 8,000,000
   • Date: February 2019
   • Lead Investors: Peak XV Partners (formerly Sequoia Capital India)
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and scale the platform's capabilities. Participating investors included Blume Ventures, Straddle Capital, Beenext, WEH Ventures, and DSP Adiko.
3. Series B
   • Amount Raised: USD 14,000,000
   • Date: September 2020
   • Lead Investors: DSP Group
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance the product suite, technology infrastructure, and expand the team. Participating investors included Peak XV Partners (Sequoia Capital India), Blume Ventures, and others.
4. Series B (Additional Tranche)
   • Amount Raised: Not publicly disclosed
   • Date: December 2020
   • Lead Investors: HDFC Bank
   • Valuation at Round: Approximately USD 52,000,000 (Rs 374 crore, per Entrackr/Fintrackr)
   • Motivation Behind the Round: To support ongoing growth and platform enhancements. Existing investors DSP Group, Sequoia Capital India, and Blume Ventures also participated.
5. Series C
   • Amount Raised: USD 40,000,000
   • Date: August 2021
   • Lead Investors: Faering Capital (co-led with Premji Invest per TechCrunch)
   • Valuation at Round: USD 200,000,000
   • Motivation Behind the Round: To launch better investment products and grow the ecosystem. New investors Amazon (via Amazon Smbhav Venture Fund) and Premji Invest joined; existing investors Sequoia Capital India, Blume Ventures, Beenext, DSP Group, Arkam Ventures, WEH Ventures, and HDFC Bank also participated.
6. Series D
   • Amount Raised: USD 50,000,000
   • Date: March 28, 2025
   • Lead Investors: Elev8 Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further scale the platform and expand into new markets. The round comprised a mix of primary and secondary transactions. New investors State Street Global Advisors and Niveshaay AIF participated alongside existing investors Faering Capital and Arkam Ventures.

Total Amount Raised: At least USD 112,000,000 based on disclosed funding rounds (Seed round amount undisclosed). Current Valuation: Not publicly disclosed.

Key Investors

• Elev8 Venture Partners
  • Details: Elev8 Venture Partners is a $200 million growth-stage venture capital fund. They led the Series D funding round for smallcase in March 2025.
  • Investment Focus Areas: Technology, fintech, growth-stage companies.
  • Notable Investments: Not publicly disclosed.
• Faering Capital
  • Details: Faering Capital is a private equity firm. They led (co-led with Premji Invest per TechCrunch) the Series C funding round for smallcase and also participated in the Series D round. Co-founder Sameer Shroff joined the board of smallcase following the Series C.
  • Investment Focus Areas: Technology, financial services, consumer sectors.
  • Notable Investments: Not publicly disclosed.
• State Street Global Advisors
  • Details: State Street Global Advisors is one of the world's largest asset managers. They participated as a new investor in smallcase's Series D round in March 2025.
  • Investment Focus Areas: Financial services, asset management, fintech.
  • Notable Investments: Not publicly disclosed.
• Peak XV Partners
  • Details: Peak XV Partners (formerly Sequoia Capital India) is a leading venture capital firm. They led the Series A funding round for smallcase and participated in subsequent rounds.
  • Investment Focus Areas: Technology, healthcare, consumer, financial services.
  • Notable Investments: Not publicly disclosed.
• DSP Group
  • Details: DSP Group is a financial services firm that led the Series B funding round for smallcase in September 2020 and participated in subsequent rounds.
  • Investment Focus Areas: Financial services, technology, asset management.
  • Notable Investments: Not publicly disclosed.

What's Next for smallcase?

smallcase is poised to capitalize on the growing interest in retail investments, with opportunities to launch better investment products and expand its ecosystem. The platform's user base has doubled to over 3 million, and transaction volumes have surged, indicating a significant market potential.

Future fundraising opportunities appear promising, with continued interest from major investors like Amazon and Premji Invest. This financial backing will enable smallcase to scale its platform and enhance its offerings, positioning it for further growth.

However, challenges such as maintaining growth momentum and navigating a competitive fintech landscape remain. Ensuring platform reliability and adapting to regulatory changes will be crucial for sustaining long-term success.

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