TechSamvadDec 10, 2020 16:35:01 IST
HDFC Bank, India’s largest private sector bank has invested an undisclosed amount in smallcase Technologies, and bought a minority stake, as part of a recent Series B fund-raise of $14 million by the Bengaluru-based fintech startup. Existing investors such as DSP Group, Sequoia Capital India, Blume Ventures, Beenext and WEH Ventures also participated in the round. Arkam Ventures and angel backers also took part in the round.
The startup, founded in 2015 by Vasanth Kamath, Rohan Gupta and Anugarh Shrivastava operates in the capital markets infrastructure space and works with businesses to help individuals invest in simple and transparent products called smallcases.
Created and managed by licensed research providers and advisors, smallcases are model portfolios of stocks and ETFs (Exchange Traded Funds). With growing interest and participation in equity markets, smallcases have seen a sharp increase in its investor base and amounts transacted over the last six months with its ecosystem approach. Its platform is integrated with brokers including Zerodha, HDFC Securities, Kotak Securities, 5Paisa and Axis Direct.
In February 2019, the company raised $8 million in a Sequoia-led Series A funding round. Blume Ventures, Straddle Capital, Beenext, WEH Ventures and DSP Adiko had also participated in that round.
— HDFC Bank News (@HDFCBankNews) December 8, 2020
Happy to announce that HDFC Bank, India's largest private bank & most trusted financial brand is now a @smallcaseHQ shareholder partner. Excited to have them onboard on our mission towards building simple & transparent investment products!https://t.co/doPJhfGpGp@SmitaHDFCBank
— Vasanth Kamath (@vasanthkamath) December 8, 2020
Happy to announce that @smallcaseHQ has raised money as part of their Series B round.
Here's wishing you greater milestones in building the future of stock investment.
— Blume Ventures (@BlumeVentures) December 8, 2020
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