Kul Bhushan · · 1 min readIndian social investment startup nets $5m in pre-series A round
StockGro, an India-based investment startup, has raised US$5 million in a pre-series A funding round led by Root Ventures and Velo Partners.
Founded in January 2020, StockGro describes itself as a “social investment startup.” Its platform aims to gamify the process of investing through rewards and competition with friends, among other things. Users can also interact with fund managers to learn about investment strategies through the platform.
StockGro founder Ajay Lakhotia / Photo credit: StockGro
StockGro founder Ajay Lakhotia said that the platform has gained more than 1 million active users within nine months of its launch.
“Global investors aligned to our vision have come on board to support us in democratizing investments for the next generation,” he said in a statement.
StockGro plans to use the new capital to grow its user base, hire tech talent, and build new features.
In December last year, StockGro raised around US$1 million in an angel round, which saw participation from investors like Cred founder Kunal Shah and Moglix founder Rahul Garg, among others. Alternative asset management firm Falcon Edge Partners is also among the firm’s prominent investors.
Editing by Collin Furtado and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
