MUMBAI: Smallcase, which offers distribution platfroms for financial assets like stocks, exchange traded funds among others, has raised $50 million in series D funding round with a mix of primary and secondary offers led by Elev8 Venture Partners along with participation from new and existing investors including State Street Global Advisors, Niveshaay AIF, Faering Capital and Arkam Ventures.
The company’s existing investors include Peak XV Partners (formerly Sequoia Capital), Blume Ventures, Amazon Smbhav Venture Fund, Premji Invest, DSP Group and HDFC Bank.
The money will be used to expand the Bengaluur based company’s product offerings across asset classes and strengthen its relationships with retail investors and ecosystem partners.
Smallcase, launched in 2016, provides investment products and distribution platforms for the capital markets industry and claims to be the largest model portfolios platform serving over 10 million individual investors. It also provides technology platforms and solutions to over 250 financial institutions and brands across financial researchers, advisors, wealth managers and brokerages.
We are keen to expand our services to popular assets like mutual funds, fixed income and to introduce new tools for our customers to optimize their wealth and net-worth better, said founders Vasanth Kamath and Anugrah Shrivastava.