Total amount raised
$14.8 Millions
Latest funding date
Location
Stockal has successfully raised funds through multiple rounds, with its most recent Series A round closing on April 14, 2022. The platform offers a range of services, including fractional investing and global investment options.
With backing from 28 investors, including notable names like Aroa Venture Partners and Hashed, Stockal continues to grow in the fintech space. Keep reading to explore the intricacies of Stockal's fundraising journey and the investors supporting this innovative platform.
What Is Stockal?
Stockal, founded in February 2016, is a dynamic player in the fintech industry. Headquartered in New York, the company operates within various sectors, including analytics, big data, finance, and stock exchanges.
With a team of 51-100 employees, Stockal was co-founded by Mohd Fairuz Razi bin Sharuddin, Rajan K Natarajan, Sitashwa Srivastava, and Vinay Bharathwaj. The platform specializes in cross-border savings and investments, offering services like fractional investing and global investment options.
How Much Funding Has Stockal Raised?
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial development and growth of the platform.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial development and growth of the platform.
- Seed Round
- Amount Raised: $1.8M
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expansion and enhancement of the platform.
- Seed Round
- Amount Raised: $3M
- Date: May 2021
- Lead Investors: Ritesh Agarwal, ScaleX Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expansion into the MENA region, including setting up an office in Dubai and forming partnerships in UAE, Oman, and Bahrain.
- Seed Round
- Amount Raised: $1M
- Date: September 2021
- Lead Investors: HDFC Bank, HDFC Securities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Further expansion and product development.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Continued growth and platform enhancement.
- Series A
- Amount Raised: $9M
- Date: April 2022
- Lead Investors: Hashed, PEAK6
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: International expansion, specifically targeting the South East Asian markets.
Total Amount Raised: $14.8M
Current Valuation: Not publicly disclosed
Key Investors
- Hashed
- Details: Hashed is a global early-stage venture capital firm focused on blockchain and cryptocurrency investments.
- Investment Focus Areas: Blockchain, cryptocurrency, decentralized technologies.
- Notable Investments: Terra, Axie Infinity, The Sandbox.
- PEAK6
- Details: PEAK6 is a private investment and technology firm based in Chicago, involved in various sectors including fintech, sports, and entertainment.
- Investment Focus Areas: Fintech, technology, sports, entertainment.
- Notable Investments: Apex Fintech Solutions, National Women's Soccer League (NWSL), Poker Central.
- ARC Group Ventures
- Details: ARC Group Ventures is a venture capital firm that invests in early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not publicly disclosed.
- Trica
- Details: Trica is a platform that provides equity management and liquidity solutions for startups and investors.
- Investment Focus Areas: Equity management, liquidity solutions for startups.
- Notable Investments: Not publicly disclosed.
- 7Square
- Details: 7Square is a venture capital firm that invests in early-stage technology startups.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: Not publicly disclosed.
What's Next for Stockal?
Stockal's future looks promising as it eyes expansion into the South East Asian markets, a region ripe with opportunities for cross-border investments. With a growing interest among retail investors for global investment options, Stockal is well-positioned to capture a significant market share. The platform's recent $9 million Series A funding round will fuel this international expansion, allowing it to build on its success in the MENA region.
As Stockal scales, future fundraising opportunities are likely to arise. The company's ability to attract prominent investors like Hashed and PEAK6 indicates strong confidence in its growth potential. However, navigating regulatory environments and facing competition from established players like Interactive Brokers and Vested Finance will be challenging. Continuous innovation and strategic partnerships will be crucial for Stockal to maintain its momentum and achieve its global ambitions.
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