Total amount raised
$62 Millions
Latest funding date
8/1/2021
Location
smallcase has successfully raised multiple rounds of funding, with its latest being a Series C round.
The platform focuses on democratizing equity investing in India, offering innovative investment products and tools.
Keep reading to explore the intricacies of smallcase's fundraising journey and the investors backing this innovative platform.
What Is smallcase?
smallcase, founded in 2015, is a wealth management startup based in Bangalore, Karnataka, India. The company focuses on democratizing equity investing by creating baskets of stocks and ETFs that reflect various investment ideas.
Founded by Anugrah Shrivastava, Rohan Gupta, and Vasanth Kamath, smallcase aims to make equity investing more accessible and equitable for everyone. The platform offers innovative investment products and tools to help users invest better in Indian equities.
With a team of 251-500 employees, smallcase continues to grow and expand its offerings, making a significant impact on the Indian investment landscape.
How Much Funding Has smallcase Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Rainmatter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the platform and initial product offerings.
- Series A
- Amount Raised: $8M
- Date: February 2019
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $14M
- Date: September 2020
- Lead Investors: DSP Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B (Additional Tranche)
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: HDFC Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support growth and development initiatives.
- Series C
- Amount Raised: $40M
- Date: August 2021
- Lead Investors: Faering Capital
- Valuation at Round: $200M
- Motivation Behind the Round: To develop improved investment solutions for retail investors and expand the ecosystem.
Total amount raised: $62M. Current valuation: $200M.
Key Investors
- Faering Capital
- Details: Faering Capital is a private equity firm co-founded by Sameer Shroff, who will join smallcase's board. The firm focuses on growth-stage investments in India.
- Investment Focus Areas: Financial services, technology, consumer.
- Notable Investments: Not publicly disclosed.
- Amazon
- Details: Amazon is a global e-commerce and technology giant. This investment marks Amazon's entry into India's wealth management sector through its $250-million Amazon Smbhav Venture Fund.
- Investment Focus Areas: E-commerce, cloud computing, fintech, agri-tech.
- Notable Investments: Acko General Insurance Ltd, Capital Float, Shuttl.
- Premji Invest
- Details: Premji Invest is the investment arm of billionaire Azim Premji's endowment and philanthropic initiatives. It focuses on a wide range of sectors including technology and financial services.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Sequoia Capital India
- Details: Sequoia Capital India is a venture capital firm that invests in early and growth-stage companies across various sectors. It is an existing investor in smallcase.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Byju's, Zomato, OYO.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with funding and support. It is an existing investor in smallcase.
- Investment Focus Areas: Technology startups, early-stage companies.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
What's Next for smallcase?
smallcase stands at the cusp of significant growth opportunities, driven by the increasing interest in fintech and wealth management solutions. With a user base that has doubled to over 3 million and transaction volumes growing 2.5 times to Rs 12,500 crore, the platform is well-positioned to expand its ecosystem and enhance its capabilities. The involvement of high-profile investors like Amazon and Premji Invest underscores the potential for future fundraising rounds, which could further cement smallcase's position as a premier portfolio investing layer across asset classes.
However, the path ahead is not without challenges. The competitive landscape includes formidable players like Groww, Scripbox, and Upstox, which necessitates continuous innovation and user engagement. Additionally, regulatory changes in the financial markets could pose hurdles. Despite these challenges, smallcase's commitment to developing better investment products and expanding its ecosystem suggests a promising future, with potential for strategic acquisitions to enhance its platform and market reach.
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