India Roundup: Amazon-backed Smallcase invests in Tickertape, and more (Updated)

Update (Oct 17, 8.30 p.m.): Added news about Smallcase

Amazon-backed Smallcase invests US$5 million in Tickertape

• Direct indexing and model portfolio platform Smallcase has announced an investment of US$5 million in Tickertape, a web and mobile investment information and research platform.
• Tickertape will use the seed capital to build India’s largest collaborative social platform focused on investments and personal finance.
• With over 4 million users, Smallcase is backed by investors including Sequoia Capital, Blume Ventures, Faering Capital, Amazon and HDFC Bank.

Cred founder acquires NBFC entity

• Kunal Shah, founder of fintech firm Cred, has reportedly acquired a non-banking finance company via Newtap Technologies, a firm he has invested in personally, sources told the Economic Times.
• Shah has acquired Parfait Finance & Investment, looking at lending as an option for Cred.
• The acquisition has received approval from the country’s central bank.

VC firm Better Capital raises US$15.2 million

• Better Capital, an India-focused venture firm, has raised its maiden fund to power its pre-seed and seed investment strategy.
• Better Capital Ventures I is a US$15.28 million fund backed by founders, operators, and investors who are former or current leaders at Meta, Google, Uber, LinkedIn, Tiger Global, and TPG, among others.
• Better Capital has invested in over 125 startups so far including Open, Teachmint, Slice, Jupiter, and Khatabook.

YC backs fintech startup’s US$4 million seed round 

• Fintech startup SalaryBox has raised US$4 million in a new seed round from new and existing investors including Y Combinator, Jerry Yang’s AME Cloud Ventures, Soma Capital and 2AM Ventures.
• The startup will use the funds to grow its team, invest in building new products and features, and further expand its user base.
• It is a mobile app-based employee management solution that simplifies the staff attendance and payroll processes for small businesses.

Healthtech firm K&L Wellness raises US$4 million in seed round

• Healthtech company K&L Wellness has raised US$4 million from angel investors Vimal Kedia and Surendra Kedia of Manjushree Ventures, and Narendra Firodia of Sohamm Group in a seed round.
• The company provides therapeutic health solutions to lifestyle diseases using natural, sustainable, and traditional methods of yoga and meditation.
• The startup will use the funds to launch the its healthtech platform, which will focus on personalized solutions.

Sequoia Surge bets on SaaS startup Toplyne

• Toplyne, a platform that enables product-led growth companies to ramp up their freemium user conversion rates, has raised US$2.5 million from Sequoia Capital India’s Surge, Together Fund, as well as angel investors from Canva, Freshworks, and Zoominfo.
• The startup will use the funds as it aims to become a one-stop shop for product-led growth businesses.
• Toplyne is a plug-and-play platform that enables sales teams at product-led growth companies to identify and focus on the users and accounts that are most likely to pay for additional features.